THE
Volume 39, Number 4
www.slenterprise.com
July 20-26, 2009
Midvale real estate firm to expand into five western states
THIS WEEK Minimum wage in Utah to rise this week Rate goes up to $7.25 per hour effective July 24. See page 2.
• Calendar • See page 6.
• Industry Briefs • Begin on page 7.
Focus Special
R e p ort Technology
Begins on page 12.
$1.25
Salt Lake City, Utah
Fast Wrap, based in Reno, has the ability to wrap anything from haystacks to entire buildings.
Nevada-based industrial shrink-wrap enters Utah market By Ryan Shelton The Enterprise Reno-based Fast Wrap, an industrial asset protection and mobile shrink-wrap business, opened its first franchise location in Utah on July 8. Founded in April of 2007, Fast Wrap has 18 locations across the country specializing in using environmentally-conscious materials to wrap and protect a slew objects such as recreational vehicles, boats, industrial equipment, furniture, freight, foreclosures, construction sites and unfinished buildings “The whole world needs wrapping,” said Mike Enos, cofounder and CEO. “In tough times
it’s more important than ever to protect your assets.” Utah franchise co-owner Blair Ford and his two sons, Seth and Zed, had been looking to buy into a franchise when Blair saw a Fast Wrap van from Coeur d’Alene, Idaho in Salt Lake City one day in 2008. After a short period of investigating and fundraising, the Fords were able to acquire franchise rights in early 2009. The Utah franchise has one van, with plans to expand as their business grows, and will serve the whole of Utah and the Lake Powell regions in Arizona. With
Midvale-based Equity Real Estate, a residential real estate brokerage that operates on a fixedprice business model and offers profit-sharing to all brokers, is preparing to expand into Arizona, Colorado, Idaho, Nevada and Washington. The firm, founded in 2001 by Brady T. Long, has grown into the 47th largest brokerage in the nation, according to the National Association of Realtors, with a current agent count of 961. Despite the national housing slowdown, Long expects to establish multiple offices and add more than 100 agents in each of the targeted expansion states before the end of the year.
“Most of our growth has come from agent referrals,” Long said. “I set out to be the kind of broker I wished I had as an agent, and have tried to focus on that perspective as much as possible. As much as possible, I wanted the power and the money in the hands of our Realtors. I believe we’ve succeeded. We’ve created online systems and offer a quick call-back guarantee that makes the agent’s job easier. Our systems streamline the work of a broker so his or her focus can really be on the success of the Realtors and less on paperwork.” Other aspects also contribute to Equity’s growth and appeal, see EQUITY page 6
Executive Lifestyle
Executive Lifestyle
PERIODICAL Postage Paid Salt Lake City, Utah
Begins on page 17.
see WRAP page 6
Firm plans 184-unit, market-rate apartment project in Taylorsville By Barbara Rattle The Enterprise Perry Homes Inc., Murray, hopes to break ground within the next 60 days for the West Village Apartments, a 184-unit, marketrate rental community at 2099 W. 4700 S., Taylorsville. Company manager Bob Perry said once ground is broken, it likely will be a year before the first units become available. Designed by The Architects Office, a Boise firm with which Perry Homes has worked on all its other Utah projects, West Village will consist of three, three-story buildings, each containing a different number of units based on where they sit on
the 7.76-acre site, Perry said. West Village will serve those 55 and older and contain a mix of one bedroom, one bath, two bedroom, one bath and two bedroom, two bath units, he said. Rents will probably range from about $700 to $1,000. “We’ve owned the land for a long time so hopefully we’re able to keep the rent fairly reasonably even though it’s good quality, new construction,” Perry said. Each of the project’s buildings will contain a large common area focused around a fireplace and gathering area, a library/computer lab and TV/game room, he said. see PERRY page 6
The Beerhive Pub, in the works for nearly 18 months, will cater to a professional clientele.
Higher-end libations bar to open in downtown SLC By Barbara Rattle The Enterprise Nearly 18 months after beginning renovation of approximately 2,000 square feet at 128 S. Main St. in downtown Salt Lake City, a new bar called the Beerhive Pub is ready to open. Owner Del Vance is no stranger to the industry, having been in partner in both Uinta Brewing Co. and The Bayou — a microbrewery and former private club, respectively, in Salt Lake City — in the past. Beerhive Pub, which was
scheduled to engage in a soft opening last Friday, will cater to a professional clientele interested in higher-end libations, Vance said. In addition to a wide selection of American-made craft beers, the pub will have an extensive wine list and a wide selection of hard liquor, including a number of bourbons and single-malt whiskeys. “We’re trying to steer people away from fruity, mixed-up cocktails,” said Vance, author of see PUB page 2