Business Today - September 2016

14

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Business Today NC

September 2016 Published monthly

YEARS

Business Intelligence for the Golden Crescent: Lake Norman • Cabarrus • University City

NEWS INSIDE Business Finance

Manufacturing, logistics could be attractive to venture capitalists Page 2

Top Women

There are 24 nominees for 12th Annual Top Women in Business Awards Page 4

Cabarrus

Volume 15, Number 6 $1.50

Millennials staying on hotel radar

By Donald White Innovation and cutting-edge technology are the name of the game in travel and tourism as millennials make their needs and preferences known when they stay in hotels in the Golden Crescent and beyond.

“Hotel amenities such as robust Wi-Fi and social spaces are very important to millennials,” said Doug Stafford, principal at Griffin Stafford Hospitality. Area hotels are working hard to keep up with the high-tech demands of younger guests.

Hotels such as the Charlotte Marriott City Center are upgrading their customer experience to keep up with the way younger guests live, work and play. The Marriott has been named an In-

Lobby offers ‘face-to-face interaction’

novation Lab hotel, a move it touts as a total reinvention.

The reimagined Marriott includes new options for guests when they arrive, such as a mobile key and a feature that allows

travelers to check in via an app.

It also includes features like tapto-order room service, flexible meeting spaces featuring shared-

As millennials drive major changes to the hospitality industry, even smaller hotels that generally cater to a slightly older clientele are being affected by the latest technological trends.

The Davidson Village Inn, an 18-room hotel across from Davidson College, is not a major destination for millennial travelers. But innkeeper Gordon Clark says that doesn’t completely insulate it from the customer

See HOTELS Page 18

See BOUTIQUE HOTEL Page 18

torsports.

Owners Glenn and Alana Long are engineering development partners for the Global MX-5 Cup, the signature spec series for Mazda Motorsports Mazda Road to 24, a program for young racers that provides a series of scholarships and a well-defined ladder to reach the highest levels of racing in North America.

Mazda calls its motorsports arm “the most comprehensive auto racing development ladder system of any auto manufactur-

er in the world.” Mazda’s Road to 24 program helps drivers advance by offering scholarships to drivers, as does its Road to Indy, which culminates in Indy Lights. The Indy Lights winner gets a $1 million scholarship and will race in the Indianapolis 500.

“In grassroots road racing, more Mazdas race on any given weekend in North America than any other manufacturer,” said Dean Case, Mazda spokesman.

Mobile check-in at Courtyard by Marriott - Lake Norman

Mazda affiliate revs up racing for newcomers

HOT PROPERTIES

Pages 20-21

New investments column

19209 Hidden Cove Lane in Cornelius has sold for $1.3 million Page 22

See MAZDA Page 19

Glenn Long discusses features of his cars at Long Road Racing

RECORDS Transactions Cabarrus 14 Mecklenburg 14 Mooresville 14 Foreclosures Cabarrus 16

Mecklenburg 16 Mooresville 16 Corporations Cabarrus 16 Mecklenburg 16 Mooresville 16

www.businesstodaync.com

PRSRT STD US POSTAGE PAID WINSTON-SALEM, NC PERMIT NO. 319

Kannapolis gets to first base with plans for a downtown stadium Page 8

DATED NEWS - POSTMASTER PLEASE DELIVER BY 9/2

Sports business

By Erica Batten NASCAR’s shrinking race attendance might seem to spell trouble for the auto racing industry. But this trend may, in fact, indicate a shift in the motorsports world toward grassroots road racing.

In the modestly-sized Statesville facility that was once home to NASCAR’s Travis Carter Enterprises, Long Road Racing has not only found a perfect fit, it has also found its way into an up-and-coming niche of mo-

Business Today P.O. Box 2062 Cornelius, NC 28031

Mayor Scott Padgett discusses redevelopment in Concord, including wider sidewalks for outdoor dining downtown Pages 6-7

Investment advisor Chris Davis pens ‘You & Your Money”

@businesstodaync

Business Today

2 September 2016

VCs looking for growth stories Something ventured, something gained

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Dave Gilroy, managing director and co-founder of Scale Finance

By Donald White Despite a recent report finding that Charlotte lags behind similarly sized cities in start-up activity and venture capital funding, observers of the entrepreneurial scene in the Golden Crescent say they’re still confident about the VC climate here.

That confidence is shared by Silicon Valley venture capitalists as well, according to a survey conducted by University of San Francisco professor Mark Cannice. The Silicon Valley Venture Capitalist Confidence Index for the second quarter of 2016 registered 3.6 on a five-point scale, up slightly from the previous quarter’s index reading of 3.54.

Local observers and entrepreneurs are feeling bullish about the venture capital market, despite Charlotte’s recent less-than-stellar investment numbers.

“There is a lot of exciting young technology, health care, and business services companies growing up in Charlotte right now,” said Dave Gilroy, managing director and cofounder of Scale Finance and a Cornelius town commissioner. “We’re

seeing great management teams grinding out solid growth stories.”

3 growth stories

Among those growth stories are three businesses based in the Charlotte area that all raised venture capital rounds of more than $6 million in the second quarter, said Devin Collins, assistant director for business and entreCOLLINS preneurial development at UNC-Charlotte’s Ventureprise. The three companies in the $6 million-plus club were: sleep medicine technology firm SomnoWare, enterprise gamification platform GamEffective, and mobile parking payment software firm PassportParking.

“We are hopeful this trend continues and our young companies continue to attract growth capital,” Collins said, citing a second-quarter report from MoneyTree that showed widespread growth in venture capital investment across North Carolina, including (in addition to Charlotte) Wilmington, Continued on page 3

VENTURE CAPITAL: KEY TERMS

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Venture capital: Money provided by venture capital funds to small, high-risk startups with major growth potential.

Angel investor: An individual who provides a small amount of capital to a startup in return for a state in the company.

Bootstrap: Term used to describe a company funded by an entrepreneur’s personal resources or the company’s own revenue.

Entrepreneur in Residence: Employee of a venture capital firm who helps vet potential investments and mentor companies in the firm’s portfolio.

IPO: Initial public offering of company stock on a securities exchange or to the general public.

Mezzanine Financing: Form of capital used to fund maturing companies that are no longer startups but have yet to go public.

Private Placement: Funding round of securities that are sold through a private offering, mostly to a small number of chosen investors.

Seed money, seed funding: Funds raised at a company’s proof-of-concept or prototype stage, the first official round of financing for a startup.

Sources: Wikipedia, TechRepublic

Business Today

September 2016

Political Q&A on the menu for Newsmakers Breakfast Sept. 21 Four top political consultants—two Democrats and two Republicans— will field questions from the audience at the Business Today Newsmakers Breakfast Sept. 21 at The Peninsula Club.

It will be an exciting event, a la “Meet The Press.” Our speakers are: • Andy Yates, a Republican, is founder of Red Dome Group.

• Brad Crone, a Democrat, runs Campaign Connections.

• Michael Wilson, a Democrat, is running the Chaz Beasley campaign.

• Neal Orr, a Republican, is a well known consultant and on-air pundit.

All four will take questions from the

audience. Newsmakers Breakfasts are an open-forum discussion with people in the news.

Doors open at 7:15 a.m. for networking. The buffet-style breakfast gets underway at 7:30 a.m. The Q&A begins at 8 a.m. and concludes at 9 a.m. sharp.

The cost to attend, $12, includes a full country breakfast.

Reservations are required. Call 704895-1335 with Visa or MasterCard.

Sponsors include The Knox Group, Davidson Wealth Management, Donna Moffett Accountants & Consultants, The McIntosh Law Firm, KS Audio and Pierce Chiropractic.

Continued from page 2

Black Mountain and Asheville.

“We are seeing investments across the state and not just in the hotbed of (Research Triangle Park),” Collins said.

‘Shockingly low’

Despite being one of six winners in the 2016 Charlotte Venture Challenge, entrepreneur Jeffrey Kaplan failed to land venture capital while based in Cornelius. The Charlotte Venture Challenge is a competition for early-stage high growth start-ups. Winners get exposure and capital.

Kaplan, is the founder of dogphrendly. com, which launched at the Groundworks Labs Startup Accelerator. He has recently moved the business from Cornelius to St. Petersburg, Fla. Dogphrendly.com, a mobile app which provides links to thousands of dog-friendly hotels, restaurants and other businesses around the country, has grown at a respectable rate, Kaplan said.

“While some investors have expressed interest, no one’s bit yet.

I think there are a few reasons, mostly being a KAPLAN sole founder and trying to monetize a free-to-use social app.

This is pretty outside the comfort zone/ risk tolerance of many investors. However, our partners are happy with us and keep sending gear to write reviews on. Users are happy and sticking with us through growing pains,” Kaplan said.

Dogphrendly has 16,000 users, mostly millennial women. “With this continued traction and proving the business

model (earning real revenue) I believe we will secure a round of Angel funding,” Kaplan said.

Still, it hasn’t happened.

The Charlotte area has a long way to go to catch up with its regional peers in terms of VC funding, according to a study released late last year by the city of Charlotte and CRFE International. The report called VC funding in Charlotte “shockingly low.” From 2011 to 2015, about four companies in Charlotte received venture capital funding annually, which amounted to about $3 per capita, the report states.

“On a per capita basis, it is 1 percent of Austin (Texas) and less than 3 percent of Research Triangle investment,” the report states.

The report notes that if start-ups in the Charlotte metro area obtained venture capital at a rate similar to Atlanta’s, they would receive an additional $158 million dollars in annual investment.

A couple of factors could be holding Charlotte back when it comes to venture capital funding. The CRFE report cites the lack of a medical school and low academic research and development funding compared with peer cities as strikes against Charlotte on measures of innovation indicators.

But the report also says Charlotte has a lot going for it that could make the city attractive to venture capital investors. The document specifically mentions the Queen City’s strengths in manufacturing, logistics and transportation, and financial services.

Offering Congratulations

to several of our clients making good news recently:

iHealth Solutions, LLC raises $7.0 million in equity financing from Atlanta-based Fulcrum Equity Partners and other investors. This transaction financed the acquisition of DNA Healthcare Inc. Scale Finance Managing Director Dave Gilroy managed this process from beginning to end and participated personally in the investment AdComm, a nationwide provider of installation fulfillment, customer support and sales services across a range of industries, acquires MediaWorks, an integrator of DIRECTV within the lodging and institutional industry. Scale Finance provides AdComm with CFO, business valuation, and transaction-advisory services

Jernigan Farms

Jernigan Farms closes $4.8 million growth financing provided by Florida-based CBC National Bank with Scale Finance CFO and transaction-advisory support. Jernigan raises cattle, turkeys, and swine and is working with SF-client Clean Blue Energy of Winston-Salem to install and operate an innovative animal waste to energy system IRV Plumbing & Electric, a Charlotte-based full service contractor, completes a successful partnership buyout and refinancing. Scale Finance worked with IRV’s three owners and business broker Enlign to secure two separate debt facilities from a unit within Wells Fargo Meridian-IQ, a highly innovative provider of online databases and technology to the financial services industry, closes a successful sale of its assets to Discovery Data.

Scale Finance provides Controller and business valuation services to Meridian-IQ and advised on this complex transaction involving Discovery Data’s spinout from Ipreo, LLC with financing by private equity group Bregal Sagemount

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Business Today

4 September 2016 QUOTABLE

24 nominees vie for Top Women honors

By Donald White Twenty-four successful women have been nominated for the prestigious 2016 Top Women awards, one of the oldest and largest events honoring women leaders in Lake Norman, Cabarrus County and University City.

The high quality of this year’s stellar crop of candidates shows the huge strides women have made.

“I think seeing these successful women year after year shows how much we continue to see women successfully thriving in the workforce, many in jobs that years ago you would not have seen women doing,” said Allen Tate Realtor Diane Honeycutt, one of this year’s judges. “With that example, it sends the message to young girls that the sky is the limit and you have no boundaries. Go for your dreams.”

The 2016 Top Women nominees exemplify the contributions women have made to their organizations and the community in several areas.

Nominees are often owners, founders or partners of small, medium and large companies or nonprofits. The judges’ criteria includes, in part, leadership skills, progress in achieving business or personal goals, charitable work, length of tenure with an organization, management of important projects or teams, involvement in major programs and events, and ability to juggle challenging workloads with the demands of a family.

Winners will be announced in the October 2016 issue. Business Today created the Top Women awards 12 years ago to honor the Golden Crescent’s most dynamic women in business, community service, education and politics.

All judges are former Top Women winners. This year’s judges include Angela Swett, marketing director for Davidsonbased McIntosh Law Firm; Cabarrus County Commissioner Diane Honeycutt, one of the top Allen Tate Realtors in North Carolina; Cornelius business attorney Catherine Bentz; banker Wendy Moran of Peoples Bank; event planner Karen Lawrence; community leader Susan Til-

lis; Georgia Krueger, director of the Ada Jenkins Center in Davidson; and Tammy Whaley, senior manager of economic development for Duke Energy in North Carolina.

Prior Top Women winners include Cyndie Mynatt, owner of the Concord-based Ben Mynatt auto dealerships, Abigail Jennings, president of Lake Norman Realty, based in Cornelius; Kate Gaither, owner of Mooresville-based Newport Properties; Dianne Snyder, chancellor of Cabarrus College of Health Sciences; Robin Salzman, co-owner of Lake Norman Chrysler Dodge Jeep; and Phyllis Wingate, CEO of Carolinas Medical Center-Concord.

“I think seeing these successful women year after year shows how much we continue to see women successfully thriving in the workforce, many in jobs that years ago you would not have seen women doing” —Diane Honeycutt, 2016 Top Women Judge A Champagne Reception to fete this year’s winners will be held from 6-9 p.m.

Thursday Oct. 27 at the River Run Country Club in Davidson.

To make reservations to attend the Top Women Champagne Reception, call 704895-1335. Tickets are $39 in advance. the event includes a mini business expo designed for women.

This year’s presenting sponsor is Duke Energy. Novant Health is the platinum sponsor, silver sponsors include Aquesta Bank, Rose & Associates and Uwharrie Bank. The Champagne Reception is sponsored by RE/MAX Executive.

CONGRATULATIONS TO OUR 2016 NOMINEES Arlene Berkman

Kelly Hawkins

Respect Ability Foundation

Main Street Management Group

Barbi Jones

Lauren Kimsey

Carol Roth

Lee Kieffer

Cheryl Kaufman

Lisa (Natalie) Mayhew

Cindy Michael

Marcia Webster

Danielle Ratliff

Mary Margaret Flynn

Deborah Young

Michelle Walsh

Donna Moffett

Nettie Reeves

Cabarrus Regional Chamber National MSSociety Alliance Legal Solutions A+ Network

Serenity Now Massage Therapy Deborah Young Studio

Donna Moffett Accountants

Jennifer T. Szakly

Perry and Jeff Weir, owners of the Freedom Boat Club at Waterstreet Seaport Marina in Cornelius, have JEFF & PERRY WEIR opened a second location at Queens Landing in Mooresville. The father-son team has 21 boats in the fleet.

Brown honored as real estate innovator

Smithville Community Coalition Davidson Housing Coalition CVAN

Cocoon Salon

N’Shape Within

Sara Thomas

Karen Tovar

Sheila Brumlow Ohanakey Company

Stephanie Cornelius

Home Helpers

Charlotte Eye Ear Nose &Throat Associates

Katie Page

Velvet Nelson

Habitat for Humanity Cabarrus County

Boat club dives into Mooresville

Coldwell Banker

Charter Spectrum Reach

Kathleen Holden

Rachel Garcia has joined The McIntosh Law Firm as an attorney in the area of civil litigation focusing on business matters and personal injury. She comes GARCIA to the Davidson-based firm from the Chicago area where she practiced with the Attorney General’s office as well as in private practice and the Chicago Board of Education.

She graduated from Indiana University in 2003 and earned her law degree from DePaul College of Law in 2006.

Aquesta Bank

Caregiving Corner

The Tovar Group, LLC

Rachel Garcia joins McIntosh Law

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Leigh Brown, CEO of RE/MAX Executive Realty Leigh Brown & Associates, won second place as Inman Most Innovative Agent/Broker at the recent Inman Connect 2016 Conference in San Francisco.

Brown was one of 22 individuals to be honored as a mover and shaker in the industry at the real estate technology conference.

Business Today

6 September 2016

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By Marty Price Small cities across the nation are trying to court private investors to revitalize their downtowns. Kannapolis and Concord can be counted among the many municipalities that have recognized that private investment will build up their downtowns while increasing revenue through taxes.

Kannapolis has started the process, with private developers ready to invest millions of dollars in their new downtown plan. Revitalization has been underway for a dozen years in Concord; a new master plan offers a bold vision.

Picked as the county seat in 1776, the original town limits are marked on Union Street. The downtown grew and prospered, but it suffered like so many other downtowns when malls changed the shopping landscape. The city has nurtured downtown with special incentives for improvements, as well as a special agency, Concord Downtown Development.

All told the city has invested $1 million in downtown Concord over the years. Business Today asked Mayor Scott Padgett about downtown as the city launches a new era.

BT: What is the payoff for all that investment?

Padgett: “For what we are investing, we probably get five times as much back in the long run, in property taxes and sales taxes. More importantly it

makes this a great place to live. People want to come here and it makes the people who are here feel good about where they live.”

BT: What are your thoughts on downtowns as economic development? How can you encourage more?

Padgett: “A downtown, no matter where you are, if your downtown is bad it’s like the core of a rotten apple.

If the core is rotten the rest of the apple won’t be any good.

QUOTABLE

A downtown, no matter where you are, if your downtown is bad it’s like the core of a rotten apple. If the core is rotten the rest of the apple won’t be any good.

—Scott Padgett, Mayor of Concord

Business Today

September 2016

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Market Street.”

BT: Who are you trying to attract to the downtown area?

Padgett: “Millennials, the growing population of young people. They like having breweries, apartments and condos. A lot of millennials, and older people too, don’t want the one house on two acres. They want something convenient with little to no yardwork.”

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Padgett: “People in Concord, and all over the U.S., are having to adjust to neighborhoods that are more condensed. That has caused some adjustments because existing homeowners want similar construction but the market isn’t supporting it. We are all fearful of change and we need to get everyone to understand it is just a different way of living.”

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BT: The residential downtown will be different from the historic homes that line Union Street. What’s the reaction?

When you see nice downtowns now, they all have outside dining. We are going to need to widen our sidewalks for that, but we are not going to close Union Street. It is a too important roadway.”

Padgett: “First would be the 600car parking deck that will be built on Barbrick Avenue. We have sent out a request for proposal (RFP) for the old city hall (at 26 Union Street). We are looking for a private developer to propose what they would do with that property and that would be next. We would like to see a mix of retail, office and residential put in place.

“That would be followed by a RFP on the annex (at the Corner of Union and Barbrick Avenue) and then The Plaza—an open area for entertainment and festivals on the land where the old police headquarters was located on

7

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vide jobs for the new people and those who already live here. Investment in the historic downtown while enhancing the quality of life they are searching for. Our arts council, festivals and tree lighting are things that make people say, ‘This is home, this is something I would like my children to see.’ The millennials like nostalgia and historic places. Not one of them has ever said ‘Hey I’d like to see your mall,’ but they do want to see Union Street. Everything that can make people feel good about the past and the future, they can feel in our downtown.”

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Business Today

8 September 2016

Kannapolis teams up with firm for downtown stadium

By Donald White A new entertainment and sports complex for the Kannapolis Intimidators in downtown Kannapolis would cost $38.8 million and significantly boost development and tax revenue, the City Council was told at its Aug. 15 meeting.

Brailsford & Dunlavey Venues recently completed the second phase of a study to look into the feasibility of a new stadium complex for the team, according to the city. This phase dealt with programming of the new venue, as well as cost and return on investment for the project.

Jason Thompson, a regional vice president with Brailsford & Dunlavey, told the council that the venue should have a capacity of 5,760 and include suites as well as club and loge seating. He said that in addition to hosting Intimidators home games, the venue could also be used for concerts and community events, as well as conference and meeting space.

The team’s current home is Intimidators Stadium located off Interstate 85 at Lane Street. The 4,700-seat venue,

built by the Rowan County-Kannapolis Regional Sports Authority, is more than 20 years old.

A new complex in downtown Kannapolis could generate roughly $26 million in private development in the adjacent area, such as retail, restaurants, office and hotel space, and residential units, according to the Brailsford & Dunlavey study.

The study also cites other potential economic benefits from the complex.

Thompson told the council that Kannapolis stands to gain 248 jobs from the project, as well as $274,243 in local sales, food and hotel tax revenues and $926,012 in state sales, food and hotel tax revenues annually.

The first phase of the study, which was presented to the council last year, found that a new Intimidators stadium could attract significantly higher numbers of people — potentially doubling game attendance. That estimate was based on R. SMITH the population, household income and retail expenditures

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of people who live within a 30-minute drive of Kannapolis.

Average per-game attendance in 2015 was 2,056, with a total season attendance of 135,727 – a 10 percent increase from 2014.

New team owner

Nashville-based builder Reese Smith III and co-investors bought the Intimidators this spring for an undisclosed amount. The previous owners were Smith Family Baseball, no relation to the team’s new owner.

Smith has purchased other minorleague franchises and breathed new life into them. Over the years, he has held ownership positions in around 10 minor-league clubs including the Huntsville Stars, Daytona Beach Cubs, Greensboro Hornets and Salt Lake City Gulls. He is currently president and part owner of the Jackson, Tenn., Class AA club.

“We were in deep negotiations (to buy the team) before the city really started talking about redevelopment downtown,” Smith said, explaining that both Charlotte and Kannapolis are hitting it out of the park in terms of growth.

“We have had the pleasure to speak with the new owners and are excited about their enthusiasm for minorleague baseball and the Intimidators,” said Kannapolis City Manager Mike Legg.

“We look forward to working with them as we consider a sports and entertainment venue as an anchor in the soon-to-be-completed downtown plan,” Legg said.

The Intimidators are a Class A affiliate in the Chicago White Sox minorleague system. There are 167 minorleague baseball teams in the U.S., but only 30 are Class A. Players are gen-

erally one year out of high school or college.

Plans for current site

The Kannapolis City Council also heard a presentation on potential plans for the site of the Intimidators’ current stadium site at the Aug. 15 meeting.

Robert Van Geons of Rowan Works Economic Development has analyzed the redevelopment potential of the current 55-acre site, which is in a watershed. Watershed regulations restrict how much land can could be utilized on the site. Van Geons told the council the site has the advantage of being located on I-85 with easy access to the Charlotte Metropolitan region and could be used for a corporate headquarters, office park or light industrial use.

Van Geons’ research LEGG showed that the site would generate the most value if it were used for an office park or medical park. If used for that purpose, the property could generate $375,000 to $560,000 in annual property taxes, he told the council.

QUOTABLE

“We have had the pleasure to speak with the new owners and are excited about their enthusiasm for minorleague baseball and the Intimidators.

—Mike Legg, Kannapolis City Manager

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704-896-3900

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DIRECTV SVC TERMS: Subject to Equipment Lease & Customer Agreements. Must maintain a min. base TV pkg of $29.99/mo. Add’l Fees & Terms: In certain markets, Regional Sports fee of up to $6.39/mo. assessed with CHOICE and MÁS ULTRA Pkg and above. $19.95 Handling & Delivery fee may apply. Programming, pricing, terms and conditions subject to change at any time. Visit directv.com/legal or call for details.

WIRELESS SVC TERMS: Subj. to Wireless Customer Agmt (att.com/wca). Svcs are not for resale. Credit approval req’d. Deposit may apply. Fees, monthly & other charges, usage & other restrictions apply. Pricing, promotions, & terms subject to change & may be modified or terminated at any time without notice. Coverage & svc not avail. everywhere. You get an off-net (roaming) usage allowance for each svc. If you exceed the allowance, your svc(s) may be restricted or terminated. Other restr’s apply & may result in svc termination. See att.com/wireless or a store for details.

GENIE HD DVR UPGRADE OFFER: Includes instant rebates on one Genie HD DVR and one Genie Mini. Req’s SELECT Pkg or above; ÓPTIMO MÁS Pkg or above; or qual. int’l svc bundle with PREFERRED CHOICE. $99 fee applies for Wireless Genie Mini upgrade.

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Only one game may be accessed remotely at any given time. Compatible device/operating system required for online/mobile access. Additional data charges may apply. Visit directv.com/nfl for a list of compatible devices/system requirements. For full Mix Channel and interactive functionality, HD equipment model H/HR 21 or later is required. NFL: AP Photo.

HD: HD television req’d. Number of HD channels based on TV plan.

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Offers may not be combined with other promotional offers on the same services and may be modified or discontinued at any time without notice. Other conditions apply to all offers. ©2016 AT&T Intellectual Property. All Rights Reserved. AT&T, Globe logo, DIRECTV, and all other DIRECTV marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks are the property of their respective owners.

Business Today

10 September 2016

S mall Business Toolbox

Science, not art Create clear processes for sales

Successful sales professionals may tell you selling is part art and science.

In each, the desired outcome is excellence. In sales-talk—put air quotes right there, please—that translates to accuracy and a perfect fit to the customer’s needs. Clarifying the steps in the sales communication processes can remove unnecessary barriers to the sale and create a customized selling experience in the customer’s eyes.

1. Listen carefully.

Customers will use terms, express their feelings, and identify their needs in ways you can use when responding back to them. If they use quantitative (concrete numbers, facts) or qualitative language (fastest, largest, strongest) make note; you can use this insight. Customizing your well-developed sales presentation to their ‘language’ will make it easier for them to understand you. It makes your communica-

tion more familiar to their ear; and it can help you bond with them more quickly.

2. Clarify customer needs, by priority.

As you use a standard set of questions for customers to assess the product or service best suited to their needs, make sure to listen carefully. This allows you to organize your presentation to them according to what will be most important to them. Example: Sometimes confirming their ‘top three priorities’ allows you to demonstrate each by ordered number. They can see immediately that you understand them and are highly responsive to them.

3. Identify distinction.

Specifically identify the attributes of the product or service to each of the

Sales Leadership Cheryl Kane

customer’s needs. Pace your presentation so they can absorb what you say, and analyze the information according to what they were looking for. Make sure to emphasize an attribute that is better than the competition using quantitative data or qualitative language that fits the customer’s preference for how they seem to interpret and prefer information (see ‘Listen with precision’ above).

4. Clear up ambiguity.

Don’t assume the customer knows what makes your product the best; explain it often. If the customer knows how something works it offers them greater insight to the value your product or service offers above the competition. This can help them understand the price offers them more value than they initially realized.

5. Prevent harmful assumptions.

If you know your product or service will not be suited for particular environments or purposes, be clear-and direct them to solution options that will work for them. Customers may think a lesser quality (price) item may be stretched beyond its intended purpose or design. If you think that may happen, mention it directly, offer the right solution option.

6. Remain positive and helpful-all of the time.

If the customer doesn’t follow your advice remain diplomatic and positiveand invite them back if they need your help again. Your treatment of them today will encourage them to come back with their dignity intact and know they will be treated with respect (when they may return to buy the right item the next time).

7. Ask for feedback.

As you progress through the sales interaction, ask them how well the product seems to fit their needs, if they agree on the advantages you demonstrated, and if they have as-yet unmet needs.

Don’t assume; ask them for confirmation, clarification, and keep the conversation with them moving forward.

The desired outcome in a sales process is making the sale. Determining how helpful you are in getting to that point has to be judged by the customer, not you. You will allow them to clearly see you as the most helpful if you make the sales interaction: • easy to understand • easy to identify how what you sell meets their prioritized needs • easy to identify why what you sell meets their needs the best • easy to feel they can have confidence in their decision to buy from you • easy to sense you will still be helpful, even if they have a problem • easy to work with again when they return for the next sale A perfect-fit sale starts with listening well to the customer. Your ability to do this and use what you learn creates distinction in their eyes for your product or service, leads to a more satisfied customer & repeat sales, and can make you feel like both an accomplished artist and scientist.

Cheryl Kane, MBA, is a strategic business consultant, sales trainer, and professional speaker specializing in service quality. If you have a question you would like to see answered in this column, Cheryl welcomes your communication at (704) 595-7188 or through her web site, www.cherylkane.net.

Business Today

September 2016

11

S mall Business Toolbox

Make Your Business Entity Help You Many people think the only way an S corp to achieve to start a new enterprise is to form a that benefit.

Limited Liability Company. Maybe you Possibly the busistarted your business with an LLC be- ness has reached a cause it was easy to do and now some point or your plan limitations are becoming apparent. calls for raising capiAn LLC, being a hybrid between a tal for growth or the partnership and a corporation, does next phase. How will provide limits on liabilities from the the capital be raised? business and avoids federal taxes on If you expect to offer income at the enterprise level. But, a equity ownership, it corporation using a subchapter S elec- is usually more contion can do that also. The LLC is rela- venient to sell shares of stock in the tively easy to set up and requires mini- company. Or, maybe you want to use mal reporting. ownership as a profit sharing or deAs a business strategist, I’d encour- ferred compensation arrangement to age you to think deeper and consider attract talent that may otherwise be that your business entity can provide unaffordable. Stock options future significant help in achieving your goals vested shares may provide the needed compensation. by facilitating a QUOTABLE number of strateShares only gic things. exist in corporaLooking further tions. But, watch down the road, out, shareholders beyond starting of an S corp must an enterprise, you be U.S. citizens should have a vior permanent sion of what you residents. To use are trying to build this plan, the enand possibly even terprise may have your exit strategy. to be a C corp if You may be at a non-citizens are point where you going to be the need to make some shareholders. significant changes There are some to get to the prostrategies that verbial next level. work with LLCs not possible with Is your company an S corp. An clicking along on LLC can have difall cylinders, growferent classes of ing at an impresmembers so it’s sive rate and now possible to create you are generating the revenue you always thought a non-voting class or one that receives it would? Maybe the revenue stream a specific annual return as opposed to realized each year is pushing you into the one share one vote and distributhe higher personal income tax brack- tions according to stock ownership in ets with required self-employment the S corp. taxes. An S corporation can pay you When it comes time to exit the busia “reasonable” salary, deduct payroll ness how will this be accomplished? taxes and distribute excess profits as Can you maintain an ownership posia dividend. These dividends are taxed tion while a management team hanat a lower rate. dles daily operations and possibly The LLC can elect to be taxed as increases their ownership through

As a business strategist, I’d encourage you to think deeper and consider that your business entity can provide significant help in achieving your goals by facilitating a number of strategic things.

Entrepreneurs Thomas E. Conroy

profit sharing? This can reward loyal employees, transfer ownership and maintaining long term dividends.

So, as you think about your business model, how you want the company to grow and an ultimate exit, ask your CPA or attorney which business entity will best help you achieve those goals.

Thomas E. Conroy, BS MBA, is president of tec Strategic Partner, a consulting firm providing practical, strategic coaching to owners of small businesses.

He is lead counselor at the Small Business Center at Central Piedmont Community College and is a frequent business speaker. Reach Tom at tconroy@tecStrategicPartner.com.

12 September 2016

Zeisel discusses nutrition Sept. 13

Dr. Steven H. Zeisel, the director of the Nutrition Research Institute in Kannapolis, will discuss nutrition needs at Restaurant 46 at 6 pm Sept. 13. The title of the presentation Zeisel is “Genetics and Health: Your nutrition needs are as unique as you are.” The Nutrition Research Institute, based at the North Carolina Research Campus, is working to unlock the promise of personalized nutrition for proactive health management. “As scientists at the NRI better understand nutritional individuality, our healthcare professionals will be able to better guide each of us in reaching and maintaining our optimal health, and we will be able to more effectively treat diseases like obesity, cancer and diabetes,” the NCRC said in the invitation. To register: http://www.uncnri.org/index.php/ registration-for-appetite-for-life/

NEWS - e

Commissioner Puckett throws cold water on aging I-77 culverts

Aug. 24. By Dave Vieser. Mecklenburg County Commissioner Jim Puckett has given NCDOT Secretary Nick Tennyson and Attorney General Roy Cooper a heads up around the culverts that connect Lake Norman with Lake Davidson and Lake Cornelius.

Writes Puckett: The culverts could fail anywhere from 25 to 50 years from now. The

14 YEARS

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NCDOT-Cintra contract has a 50-year term.

“This means they could potentially approach failure midway through the fiftyyear contract with Cintra,” Puckett writes.

In a letter to the officials dated Aug. 23, Puckett asks who would be responsible for performing and paying for new culverts should they fail during the contract.

Tennyson responded to Puckett, the North Mecklenburg representative on the County Commission, this way: “I’ll ask appropriate staff to review the hypothetical questions posted in this message and provide a response to you as we are able to do so.” In spite of the classic bureaucratic non-response, America’s infrastructure is falling apart.

Business Today

Highways and bridges built during and after the Eisenhower years are at or near the end of their useful life.

The Lake Norman Marine Commission says the existing culverts have an estimated life span of 75 to 100 years.

They were installed when the Catawba River was dammed 50 years ago.

Puckett’s correspondence is interesting in an election year: He wants information from both Tennyson, who works for incumbent Gov. Pat McCrory, and from Roy Cooper, who is running against him.

“My many years of dealing with contractors and the government have taught me that unless the specifics are clearly laid out ahead of time and agreed to by all concerned the public pays the price,” Puckett writes. “I am writing on behalf of the hundreds of thousands of citizens I represent and the millions that will travel across these culverts in the next few decades. Just who will be responsible for replacing and paying for the culvert replacement should they need replacing during the current contract timeframe?”

He also asked whether the state requires any bonding to ensure that funds are available should this safety matter arise. “What is the written and verified plan should the test and/or inspections determine replacement is needed?”

“And, if the state is responsible, will this disruption trigger a ‘compensation event’ that would require NC to pay Cintra for lost revenue due to the construction,” Puckett asked.

Lake Norman Chamber honors Champions of Diversity Sept. 15 The Lake Norman Chamber of Commerce will honor organizations that are working to foster inclusiveness in the workplace at the Champions of Diversity Luncheon Sept.15 at River Run Country Club.

The annual awards honor businesses, individuals and nonprofit organizations that have done the hard work of bringing communities together along gender, racial and generational lines.

“Creating a more diverse workforce in the Lake Norman region is the right thing to do. It’s a step in the right direction, even if sometimes done begrudgingly. It’s about image… It’s acknowledging that Lake Norman clients and customers expect more—corporate

citizenship,” said Christopher Hailey, chairman of the chamber’s Diversity Council.

The luncheon is at noon Sept. 15 at River Run Country Club.

The Champions of Diversity Luncheon is presented by The McIntosh Law Firm. The gold sponsor is Sam’s Club of Mooresville and Silver Sponsors include People’s Bank and Aquesta Bank. The official Media Sponsors are Business Today and Cornelius Today. The program sponsor is Mama’s Pizza Express of Cornelius.

The luncheon is $20 and members and guests can register at www.lakenormanchamber.org or call 704-892-1922.

Business Today

September 2016

NEWS - e

Russ Rogerson tapped to oversee Mooresville, Statesville economic development

Before his Fayetteville work, RogAug. 30. The Mooresville South Iredell Economic Development Corpora- erson was a senior vice president of tion and Statesville Regional Develop- business development services at the ment are pooling their resources and Charlotte Regional Partnership. He economic strengths to hire a single joined the CRP after serving as the Executive Director of the director to oversee the counMooresville South Iredell ty’s economic development Economic Development efforts. Russ Rogerson was Corp. from 2008-2011. Durchosen by both boards of diing his time in Mooresville, rectors to be the new executhe MSIEDC and the SRD tive director effective Oct. 1. together achieved the No. A veteran economic de1 designation by Site Selecveloper, Rogerson will work tion magazine for two years with both boards and the ROGERSON as the top Micropolitan Comcurrent economic offices and staffs in Statesville and Mooresville munity in the U.S. for business growth will remain in place. The two boards development.

In North Carolina, Rogerson is achave tasked Rogerson with overseeing the development and implementation tive in the regional and State economic development organizations includof this new alignment.

Rogerson is a 15-year veteran of the ing serving on the board of the North economic development profession, Carolina Southeastern Partnership.

Rogerson has successfully practiced He is a member of the North Carolina economic development in Ohio and Economic Development Association North Carolina in small, medium, and the International Economic Deand large Metropolitan areas. He will velopment Council. In Fayetteville, be coming to Iredell County from the he serves on the Fayetteville Regional Fayetteville Cumberland County Eco- Airport Board and the Sustainable Sandhills Board of Directors. nomic Development Corporation.

Lake Norman hospitality gives back to community via ‘Voluntourism’ initiative Visit Lake Norman and its Lake Norman hotel partners have created a “Voluntourism” initiative to give back to the Lake Norman community and make an impact. The idea originated from VLN’s most recent Hotel Power Hour meeting where John Lynch, GM for the Hampton Inn & Suites Huntersville told the story of Angels & Sparrows Soup Kitchen’s need for bottled water for their bagged lunch program. At the conclusion of the meeting, the Voluntourism initiative was born and area hotels were leading the charge to collect cases of bottled water for the lunch program.

To date, 70+ cases of bottled water have been donated collectively by area Lake Norman hotels to Angels & Sparrows Soup Kitchen. Donations were

made by the Comfort Suites Huntersville, Country Suites Huntersville, Courtyard Huntersville, Hampton Inn Cornelius, Hampton Inn & Suites Huntersville, Homewood Suites Davidson and VLN. At the end of July, the program had delivered 8,701 lunches in seven Lake Norman communities, in which families benefit from free and reduce priced lunches at school.

The Voluntourism initiative has also spun off another charitable initiative.

The Comfort Suites Huntersville is collecting school supplies for a local elementary school. Contact Candice Karriker, Front Desk Manager for pick-ups, drop-offs or any questions at 704-8756220 or candice007@yahoo.com.

James W. Surane, Attorneys at Law New location 18825 W. Catawba Ave. Suite 150, Cornelius, NC 28031

Serving Cornelius for over 20 years James W. Surane, Attorney at Law Former Mecklenburg Magistrate

Deborah Pope, Attorney at Law Former Mecklenburg Magistrate

Kimberly Thaxton, Attorney at Law Real Estate Law- closings, evictions, land rezoning, impervious allocation issues | Litigation | Mediation- Breach of Contract and Divorce | Traffic | Simple Wills including Healthcare POA Uncontested Divorce | Adoption

Call for a consultation 704-895-5885

13

Business Today

14 September 2016

On The Record

FORECLOSURES . . . . . . . . . . . . . . . . . 16

These are recent property transactions over $200,000 as recorded by the county Register of Deeds in Cabarrus, Iredell and Mecklenburg.

NEW CORPORATIONS . . . . . . . . . . . . 16

Cabarrus County

THIS MONTH REAL ESTATE TRANsACTIONS . . . 14

REAL ESTATE TRANSACTIONS

08/15/16 $280,000 Justin & Raechel Meyer to Srikantha Polisetty & Swathi Gopala, 439 Sweet Shrub Ct., Concord 08/15/16 $280,000 D.R. Horton, Inc. to John & Monica Singletary, 1394 Overlea Pl., Concord

08/15/16 $348,500 M/I Homes of Charlotte, LLC to Premkumar Mathivanan & Sugasarany Premkumar, 1344 Sandy Bottom Dr., Concord 08/15/16 $375,500 Taylor Morrison of Carolinas, Inc. to Nicholas & Charlotte Caporale, 2609 Shoal Park Rd., Concord 08/15/16 $338,000 Meritage Homes of the Carolinas, Inc. to Lukas & Heather Johnson, 3001 Donegal Dr., Kannapolis 08/15/16 $327,000 Anna Stephenson to John & Sarah Dabbs, 3843 Amarillo Dr., Concord 08/15/16 $285,000 Joseph & Jessica O’Rourke to Clay & Jennifer Stephens, 8385 Bampton Dr., Concord 08/16/16 $353,500 M/I Homes of Charlotte, LLC to Michael Kallhoff, 1161 Sandy Bottom Dr., Concord 08/16/16 $325,000 D.R. Horton, Inc. to Joseph & Jessica O’Rourke, 1398 Overlea Pl., Concord 08/16/16 $345,000 Jeffrey & Michele Tichnor to Justin & Raechel Meyer, 10318 Lemmon Ave., Concord 08/16/16 $382,500 Ronald & Colleen Heibeck to Enayetur Raheem & Rifat Jahan, 4461 Sourwood Ct., Harrisburg 08/16/16 $380,000 Marshall & Adroenne Munyak to David & Katie Hocker, 5453 Asbury Ln., Davidson 28036 08/17/16 $460,000 John & Irene Blackmon to ZM Properties, LLC, 41 Odell School Rd., Suites B & C, Concord 08/18/16 $359,000 Weekley Homes, LLC to Eric Fluster, 10544 Springcrest Dr., Harrisburg 08/18/16 $263,500 The Ryland Group, Inc. to Desedric & Ericka Hill, 7025 Founders Way, Harrisburg 08/18/16 $353,000 D.R. Horton, Inc. to Karthicbabu Gujulvaramachary & Sangeetha Thoguluvaramakrishnan, 11105 River Oaks Dr., Concord 08/18/16 $344,000 M/I Homes of Charlotte, LLC to Charwin Abraham & Pon Johi, 8651 Lavender Pl., Harrisburg

More Cabarrus Transactions online at www.BusinessTodayNC.com

Mecklenburg County 8/15/16 $450,000 Bradley & Amy Pearce to Melora Driver, 17022 Winged Thistle Ct., Davidson 8/16/16 $270,000 Robert & Alissa Drake to Michael & Christina Stout, 14005 Holly Stream Dr., Huntersville 8/16/16 $425,000 Chessman Homes to John & Helen Dahlem, 12228 Bradford Park Dr., Davidson 8/16/16 $653,000 Natalie & Rick Zoerb to Lisa & Jeffrey Mohler, 19043 Meta Rd., Cornelius 8/17/16 $586,000 Pamela & Gary Young to Bryant Nguyen & Cuc Hong Thi Do, 7604 Vistaview Dr., Cornelius 8/17/16 $550,000 Susan O’Hara to Logan & Spencer Brock, 8923 Robbins Pond Rd., Cornelius

8/17/16 $402,000 Eleanor Payne to Trustees of Davidson College, 209 Larimer Rd., Davidson 8/17/16 $300,000 Eric Fluster to George & Kristina Bowery, 1026 South St., Cornelius 8/17/16 $369,500 Andrew & Jodi Pipas to Biran & Kelly Agudelo, 12616 Kencot Ct., Huntersville 8/18/16 $468,000 Carl & Kristi Buckner to Nicolas & Robyn Gallo, 14207 Old Vermillion Dr., Huntersville 8/18/16 $315,000 Matthew & Cristina Shaul to Carol LaTorre, 214 S. Faulkner Way, Davidson 8/18/16 $394,000 William Cobb & Mary Garrett to Michael & Janice Duggan, 207 N. Downing St., Davidson

More Mecklenburg Transactions online at www.BusinessTodayNC.com

Mooresville 8/18/16 $374,000 David & Rhonda Mienko to David & Ashley Thornton, 179 Bay Laurel Dr. 28115 8/19/16 $286,000 Daniel & Kellie Midgett to Rhonda Mienko, 107 Cranbrook Dr. 28117 8/19/16 $1,510,000 Paul & Julie Crandall to Angela Mitchell, 157 Mayfair Rd. 28117 8/19/16 $779,500 Robert & Charity Anglin to Carlus Financial Corporation, 236 Elysian Dr. 28117 8/19/16 $376,000 Meritage Homes of the Carolinas to Hishaam Mahmood & Aldora Reis, 183 South San Agustin Dr. 28117 8/19/16 $290,000 Constance Mero to Darrin & Silka Hermleing, 177 Lakeland Rd. 28117 8/19/16 $386,000 Lennar Carolinas to Michael & Nancy Felice, 125 Elk Shoal Ln. 28117 8/19/16 $408,500 Lennar Carolinas to Richard & Theresa Egloff, 124 Elk Shoal Ln. 28117 8/19/16 $333,500 Douglas & Margo Frank to Howard & Vicki Buckley, 153 South Haven Dr. 28117 8/19/16 $300,000 Malcolm & Susanne Rugeley to Bonnie Hendrick & Dale Dworak, 121 Lakewood Circle Dr. 28117 8/19/16 $439,000 Glenn & Angelique Muccio to Vlad Lozovskiy & Svetlana Lysak, 135 Webbed Foot Rd. 28117 8/19/16 $370,000 Sherry Van Every to Scott & Billie Underbrink, 107 Red Brook Ln. 28117 8/19/16 $379,000 William R. Homes to Jason & Jessica Radle, 152 Shinnville Ridge Ln. 28115 8/19/16 $378,000 Richard & Carolyn Luhrs to Patrick & Maureen Altham, 137 Lake Pine Rd. 28117 8/19/16 $253,000 Lennar Carolinas to Thomas & Lynette Korte, 117 Portola Valley Dr., Townhouse B 28117 8/19/16 $300,000 Ruben & Tedra Howell to Miguel & Amanda Alvalle, 149 Bay Laurel Dr. 28115

More Mooresville Transactions online at www.BusinessTodayNC.com See FORECLOSURES, Page 16

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Business Today

16 September 2016

On The Record

FORECLOSURES from page 14

FORECLOSURES

Foreclosure actions have been started on the following properties. Items show the date foreclosure documents became public, owners, property address, lien holder, lien amount. After required notices are published, the property is sent to auction. The property then can be sold, not sold (examples: bankruptcy files or action dismissed without prejudice) or the sale postponed.

Cabarrus County 08/04/16 Sheryl Shoulders, 510 Ford St., Kannapolis, Wells Fargo Bank, $94,050 08/04/16 Floyd & Marianne Prophet, 3550 Coleraine Ave., Kannapolis, Federal National Motgage Assoc., $245,000 08/08/16 Allison Wigfall, 4032 Center Pl., Harrisburg, Wells Fargo Bank, $140,070 08/09/16 Dennis, Ricky & Susan Elliot, 4430 Fawbrook Ave., Concord, Bank of New York Mellon, $127,800 08/12/16 Bethany Barber, 10779 Traders Ct., Davidson 28036, Fairway Independent

Mortgage Corp., $139,329 08/12/16 George & Shelvie Tilson, 6313 Weddington Rd., Concord, U.S. Bank National Assoc., $107,254 08/12/16 Robert Dumas, 3358 Garrett Dr., Concord, Federal National Mortgage Assoc., $172,000 08/17/16 Wydle & Deborah Cooper, 10850 Dry Stone Dr., Concord, NP154, LLC, $42,000

More Cabarrus Foreclosures online at www.BusinessTodayNC.com

Mecklenburg County 8/12/16 Jaime Franks, 3737 Sipes Ln., Charlotte 28269, Wachovia Bank $140,000 8/12/16 Tracey Aliston & Leslie Brown, 1418 Old Justin Pl., Charlotte 28262, Wells Fargo Home Mortgage $132,908 8/12/16 Corteasia & Lloyd Riddick, 3108 Passour Ridge Ln., Charlotte 28269, Summit Funding $125,000 8/12/16 Darlene Middleton, 11800 Mourning Dove Ln., Charlotte 28269, Bank of America $173,000 8/12/16 Daniel Rejon, 6600 Heatherbrook Ave., Charlotte 28213, Countrywide Home Loans $72,000 8/15/16 Jennifer K. Alexander, 2940 Caldwell Ridge Pkwy., Charlotte 28213, First Independent Mortgage $92,646 8/18/16 Gwendolyn E. Burton, 7042 Rumple

CHAMPIONS

of Diversity Luncheon Thursday, September 15th

12pm at River Run Country Club The Chamber will recognize the Corporation, Small Business, Nonprofit, and Individual who practices and promotes diversity and inclusion in the workplace.

$20 per person - Open to the Public RSVP by 9/12 704-892-1922 or www.lakenormanchamber.org Presenting sponsor

Gold sponsor

Silver sponsors

Media sponsors

Program sponsor

Rd., Charlotte 28262, First Charter Bank $106,676 8/18/16 David M. McKinnon, 6713 Iron Brigade Ln., Charlotte 28269, GreenPoint Mortgage $76,000 8/19/16 Jonathan & Julie Bassnett, 20124 Schooner Dr., Cornelius, Countrywide Home Loans $243,570

More Mecklenburg Foreclosures online at www.BusinessTodayNC.com

Mooresville 8/2/16 Lawrence Perdue, 2026 Perth Rd. 28117, CitiMortgage $176,628 8/5/16 Leisa A. Rowe, 1965 Charlotte Hwy., #105 28115, Wachovia Mortgage $120,062

More Mooresville Transactions online at www.BusinessTodayNC.com

NEW CORPORATIONS These businesses have registered with the N.C. Secretary of State.

Cabarrus County 8/17/16 Goddard Mallard Creek LLC, Amanda S. Cash, 10080 Edison Square Dr. NW, Concord 8/17/16 Holistic Hands LLC, Angela Sharkey, 50 Park Dr. SW, Concord 8/17/16 Matrimony Property Management Inc., Shon Hicks, 2006 Blair St., Kannapolis 8/18/16 Appalachian Power League Inc., Steven E. Smith, 7136 Weddington Rd. NW, Ste. 112, Concord 8/18/16 Covenant Presbyterian Church Kannapolis, Lisa Haynie, 5738 Sumter Ave., Kannapolis 8/18/16 Matthews Property Solutions LLC, Edward William Matthews, 6012 Bayfield Pkwy., Ste. 301, Concord 8/19/16 H.V. Holdings Inc., Darrell Hagler, 1144 Asheford Green Ave., Concord 8/19/16 I Do It Services Inc., Phillip Eudy, 553 Union Cemetery Rd. SW, Concord 8/19/16 Swiss Alpes Holdings Inc., Phillip Eudy, 553 Union Cemetery Rd. SW, Concord

More Cabarrus New Corporations online at www.BusinessTodayNC.com

Mecklenburg County 8/18/16 Peak 7 Solutions LLC, United States Corporation Agents, 21305 Sandy Cove Rd., Cornelius 8/18/16 Pressure Washington Inc., Gregory Allen Williams Jr., 5439 Cambridge Bay Dr., Charlotte 28269 8/18/16 Red Maple Construction, Lisa A. Jaques, 2830 Oldenway Dr., Charlotte 28269 8/19/16 Alternative Health Distribution LLC, Lee W. Vantine III, 22531 Torrence Chapel Rd., Cornelius

8/19/16 Built 4 U LLC, John E. Martin, 823 Cattaloochee Ln., Huntersville 8/19/16 Crest360 Inc., Naga Jyothi Challabotla, 1914 J N Pease Pl., Fl. 1, Charlotte 28262 8/19/16 D.R. Chadwick Enterprises LLC, Dennis R. Chadwick, 4323 Chadwell Ln., Charlotte 28269 8/19/16 East Coast Balayage LLC, Costner Law Office PLLC, 10125 Berkeley Place Dr., Charlotte 28262 8/19/16 Ekos Licensing LLC, James G. Forehand, 8118 Statesville Rd., Ste. A, Charlotte 28269 8/19/16 FTS LLC, Karl T. Wall, 1106 Torrence Cir., Davidson 8/19/16 Stella Girl Inc., Meek Law Firm, 10130 Mallard Creek Rd., Ste. 300, Charlotte 28262

More Mecklenburg New Corporations online at www.BusinessTodayNC.com

Mooresville 8/10/16 DJ Home Builders of NC LLC, Dennis R. James, 162 Laurel Glen Dr 28115 8/10/16 Easy Living Audio Video LLC, Douglas W. Sievers, 219 Castles Gate Dr. 28117 8/10/16 Southern Rock & Rollers LLC, Matthew Broughton, 150 River Park Rd. 28117 8/11/16 Cherokee Properties LLC, Joshua Wayne Gardner, 737 McKendree Rd. 28117 8/11/16 TD Equipment LLC, Travis Donaldson, 1860 Charlotte Hwy. 28115 8/12/16 Asher Homes LLC, Anthony Wesley, 129 Preserve Way 28117 8/12/16 Fantasy Sports Nation LLC, Kelly Myers, 207 Talbert Rd. 28117 8/15/16 Viglione Group LLC, Krista Viglione, 140 Swamp Rose Dr. 28117 8/16/16 Felis Innovations LLC, Heather W. Anderson, 261 Bay Harbour Rd. 28117 8/16/16 Lioncrete Solutions LLC, Alexander Karaqi, 106 Lowrie Loop, Unit 10-207 28117 8/17/16 Adisha Inc., Yogini Karnik, 145 Crimson Orchard Dr. 28115 8/17/16 Bethel NC 11 Solar LLC, Kenny Habul, 192 Raceway Dr. 28117 8/17/16 Blew Consulting LLC, Douglas J. Blew, 135 Sienna Ln. 28117 8/17/16 Pixie LLC, Kevin C. Donaldson, 149 Welton Way 28117 8/18/16 Fabworks Inc., Kyle RIngwald, 131 Springdale Acres Dr. 28115 8/18/16 Freddy Karmatz Real Estate LLC, Fred Karmatz, 615 Kenway Loop 28117 8/18/16 The Nerdy Designer LLC, Jennifer Miehle, 158 Southhaven Dr. 28117 8/18/16 Xtreme360 LLC, Howard Kosofsky, 181 North Main St. 28115 8/19/16 XXX Trucking Company, Kimberly M. Hayes, 112 Walnut Cove Dr. #B 28117

More Mooresville New Corporations online at www.BusinessTodayNC.com

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Business Today

18 September 2016

HOTELS

from page 1

screen technology, and streaming services such as Netflix and Pandora.

All of these amenities are very much in line with what travel and tourism professionals say millennials — the age cohort demographers generally agree was born between the late 1970s and mid-’90s — are looking for when they travel. People in the industry say millennials want different things from their hotel stays than older generations.

Millennials’habits

A recent survey by the travel booking website Expedia found that millennials had very distinct tastes and habits.

• They are much more likely to embrace hotel chains’ loyalty programs when booking a room than travelers aged 46-65.

• They report spending their company’s money more freely when traveling for business — on flight upgrades, for example — than older travelers.

• ▪ They are more likely than older hotel guests to post a negative review online when they are dissatisfied with the level of service they receive.

Reshaping the industry

These findings come as no surprise to

hospitality professionals in the Golden Crescent, who say millennials are dramatically reshaping the travel industry.

Technology is a huge driver of that change, and wireless technology has become an integral part of millennials’ hotel stays. Reliable connectivity and complimentary Wi-Fi are absolute musts for millennial guests, said Sally Ashworth, executive director of Visit Lake Norman.

“Well-equipped business centers, smart TVs, bedside charging stations, internet bars and modern gathering spaces would be at the top of their lists,” Ashworth said.

Millennials’ changing technology consumption and social interaction habits are strong drivers of these trends.

“More often than not, they will have a tablet in lieu of a laptop, and that is in addition to their smartphone,” Stafford said.

“Millennials use far more internet bandwidth because they get most of their information and entertainment online.”

‘Self-service generation’

Stafford also cites millennials’ desire for a do-it-yourself kind of travel experience.

“They are much more of a ‘self-service’ generation, not wanting to be tied down by waiting for service,” he said.

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Technology enables that kind of DIY ethos for millennial hotel guests. Checkin apps such as Marriott’s that give young travelers more flexibility upon arrival are also being well-received, Ashworth said.

“Hilton, Marriott and Starwood are offering check-in apps where you use your smartphone to access your reservation without needing to use the guest services upon arrival,” she added.

The Expedia survey’s finding that millennials are more likely to mix business and pleasure when they travel also matches what Ashworth has observed in the Golden Crescent.

“The fact that many millennials are not yet married and without families, they are much more inclined to tack on vacation days or stay for the weekend before or after a planned business trip,” she said.

“For the greater Charlotte region in 2015, only 9.1 percent of millennials stayed

BOUTIQUE HOTEL

overnight for the primary purpose of business, which is lower than any older demographic group.”

More likely to travel

Ashworth said technological trends such as the growth of social media, which gives millennials “a more cultured global perspective compared to prior generations,” are a positive sign for the hospitality industry. An increasingly diverse, cosmopolitan generation is more likely to want to travel and explore the world, she added.

The tendency of millennials to be flexible and mobile in their living arrangements — more likely to rent an apartment than to buy a home, for example — also gives them greater opportunities to travel, both inside the U.S. and abroad, Stafford said.

Continued on page 19

from page 1

demand for technology that affects large hotel chains.

Complementary Wi-Fi, for instance, is “pretty much a no-brainer,” Clark said.

He added that one of the major technology issues his hotel faces is keeping up with guests’ bandwidth needs when “a family of three walk in and they each have two or three devices on Wi-Fi. You have to have enough bandwidth for it to run smoothly for them.” The hotel regularly adds bandwidth capacity as guests bring more and more wireless-enabled devices with them when they travel.

Aside from wireless access, the inn’s facilities are a relatively low-tech affair compared with major chains that are seeing an influx of millennial guests. There are no state-of-the-art devices in the hotel’s only public space, its lobby on Depot Street. Indeed, Clark said, there isn’t even so much as a TV screen. The distractionfree environment is meant to encourage real conversation.

While there are no self-check-in apps or electronic room keys available at the Davidson Village Inn, Clark says he is open to studying the feasibility of such amenities if there is enough customer demand.

“We’re trying to stay flexible with software,” Clark said.

The Davidson Village Inn does have an online presence. Clark said the hotel hired Q4Launch, an online marketing company that specializes in smaller hotels and B&Bs, to manage its website, blogs and social media, and to make sure the hotel’s site is mobile-friendly. He said the inn has a Facebook page — which of-

Innkeepers Gordon and Rebecca Clark

ten features information on local events and attractions in addition to hotel promotions — but no Twitter account.

Social media is an increasingly important part of the Davidson Village Inn’s marketing and customer outreach. “You want to make sure your presence in that medium is reflective of your property and represents things (guests are) looking for,” he said.

One trend among millennials that is having an effect on the Davidson Village Inn is the tendency to make travel plans at the last minute, Clark said. To that end, the inn offers travel packages that include dinner to make spur-of-the-moment planning easier for guests.

“They like the convenience of having options like that if they do things last minute for an anniversary or date,” he said.

—By Donald White

Business Today

MAZDA

September 2016

19

from page 1

Born as road vehicles, Miatas come to Long Road Racing 25 at a time and arctic white in color. They’re also 15 lbs. lighter than their counterparts layered with paint.

Once in Statesville, Long Road Racing’s dozen-plus employees strip the seats and dashes from each car, move interior brackets and relocate the battery. This hull is then fitted with a TIG-welded roll cage and more than 250 motorsports-specific parts, including a sealed engine and engine control unit.

The finished product costs $53,000.

“Ultimately, you’re trying to provide value to the customers. It’s all about cost of ownership,” said Case. And while the value philosophy is nothing new, cost of

ownership is huge in the racing world, where the engine and tires alone for one week’s race can be upwards of $40,000.

Some of that value Case is talking about comes from competition; a lot comes from technology.

“When we announced that we were doing this, we had blacked-out tires [for testing] because we had eight tire vendors who wanted to do business with us,” said Glenn Long.

But it wasn’t just about the lowest bid. Ultimately, BF Goodrich won the contract after sophisticated computer modeling, which simulated months of testing on various combinations of tires, oil, brake pads and other parts, indicated

optimal performance from its tires.

The first 50 cars out of the shop went to the MX-5 series. “The surprising part has been [cars] 50 to 100,” said Long. Those were quickly snatched up by club racers.

Long Road Racing is just now putting the finishing touches on its 100th car, slated for Monticello Motor Club in New York.

And that’s just the beginning. Long Road has also started customizing cars for street driving and “to demonstrate what’s possible,” said Long. “Hopefully we’ll make that a nice little side business.”

But Long Road Racing’s main line should keep business humming, particularly in light of Mazda’s marketing approach, a combination of traditional,

proactive strategies with nontraditional, often reactive, solutions.

Mazda’s marketing team pairs with schools to offer demonstrations to and support for STEM programs, encouraging children to consider engineering careers in the racing industry, said Jade Gurss of Mazda Motorsports’s media relations team.

The Longs didn’t have to encourage their son, Tom, to consider a career in the racing industry. He is a full-time driver with SpeedSource Mazda Motorsports.

With more than a decade of racing experience, it was Tom’s enthusiasm that brought his parents into the industry.

It doesn’t get more grassroots than that.

Continued from page 18

“Millennials do seem to travel more than other generations because they are into experiences,” he said. “…I have a millennial nephew who, with his wife, is constantly traveling to Africa, Asia and Europe. For them, travel experiences are more important than purchasing a home.”

Mix of hotels, rentals

But technology could also change the face of lodging in the future, remaking the hotel industry in ways few could have predicted. Ashworth said online vacation rental tools are already having an effect on how young people are making travel arrangements. The trend is toward travelers opting for a mixture of traditional hotels and DIY rental options such as Airbnb.

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“Many (travelers) want alternative accommodation options to hotels, and we need to work collaboratively with these outlets to drive visitation,” Ashworth said. “Specifically for us, we are seeing many family reunion groups take this route and it’s complementary to driving hotel demand.”

And in some ways, Stafford said, the hotel industry is already being affected

by millennials’ tastes in the same way the restaurant and bar industries are.

“We do see permanent shifts in our business in the areas of … amenities such as food and beverage service,” he said. “At upscale hotels and above, we see an increasing trend toward food and beverage service outlets that serve craft beers and small plate menu items that have some local flavor.”

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Business Today

20 September 2016

Hot Properties

Q

: I have bought property in other states, and my closing was not conducted by a real estate attorney. Why does North Carolina require that an attorney conduct a real estate closing?

A

: Many aspects of real estate law are State specific. North Carolina has a somewhat unique system that involves a real estate attorney searching and opining on the state of the property’s title to an independent title insurance company or agency. The title insurance company then issues the title insurance commitment or policy, while the real estate attorney conducts the closing, handling of funds, and recording of the documents. A few advantages of the North Carolina JACKSON approved attorney system are: 1. Cost – Involvement of an attorney in the process keeps the overall cost of the transaction down 2. Legal Representation – Attorneys are able to provide legal advice during the closing process 3. Oversight of Attorneys - Attorneys are closely regulated by the State Bar and General Statutes, and most carry malpractice insurance.

4. Oversight of Attorney Trust Accounts - Attorneys’ trust accounts are regulated by both the State Bar and the North Carolina Good Funds Settlement Act These are just a sample of the many benefits to closing your real estate transaction with an approved real estate attorney.

Contact Patrick M. Jackson President, Master Title Agency 8640 University Executive Park Dr., Charlotte

704-348-2866 www.mastertitleagency.com

Upward price trend continues Home prices keep marching on, especially in the South and West, according to the new S&P CoreLogic CaseShiller Indices, a leading measure of U.S. home prices.

June data, the latest available, shows that home prices continued their rise across the country over the last 12 months.

The national index rose 5.1 percent in June, unchanged from May. Portland led the way with a sizzling 12.6 percent year-over-year price increase, followed by Seattle at 11 percent, and Denver with a 9.2 percent increase. It’s doubtful that’s sustainable, of course.

Charlotte was right in there at CaseShiller’s national average of the Top 20 markets by size: 5.1 percent.

“Home prices continued to rise across the country led by the West and the South,” says David M. Blitzer, managing director of the Index Committee at S&P Dow Jones Indices.

Nationally, home prices have risen at

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a consistent 4.8 percent annual pace over the last two years without showing any signs of slowing.

Some markets may have already since their most rapid growth in home prices. According to Case-Shiller, home prices rose only 2 percent in New York and Washington, D.C., and 3 percent in Chicago. Of course, that’s nothing to sneeze at.

Sales of existing homes are at running at about 5.5 million units with inventory levels under five months, indicating a fairly tight market. Meanwhile, sales of new single-family homes were at a 654,000 seasonally adjusted annual rate in July, the highest rate since November 2007.

While the real estate sector and consumer spending are contributing to economic growth, business capital

spending continues to show weakness, not so much in the Charlotte region which continues to be a growth market.

Lake Norman Realty has just opened a second office in Mooresville; Allen Tate has just opened a Statesville office.

“2016 may prove to be the best year ever for real estate in the Lake Norman region,” said Abigail Jennings, president of Lake Norman Realty. “Looking ahead, we are anticipating another strong year of sales for 2017,” she said.

Meanwhile, it doesn’t look like the supply of new homes is going to moderate prices of existing homes.

“There is a scarcity of land ready to build on as well as a lengthy process to ready that raw land for development,” continued on page 21

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Business Today

September 2016

Hot Properties Continued from page 20

Hot Properties

Hot Properties is all about the deal. If you’re an agent with a high-end, closed deal, usually $750,000 and above, let us know. Email us at nebiztoday@gmail. com or call 704-895-1335.

110 Jade Spring Court in Mooresville has sold for $1.485 million

16418 Pinwhenny Road in Cornelius sold for $1.87 million

said Stephanie Gossett, regional vice president for Allen Tate in the Lake Norman region.

“The builders have been trying to catch up with demand, but this, along with higher labor and materials costs, are also driving prices of new construction up. Consequently, a buyer who wants a new home is sometimes paying up to 30 percent more for that home than the competing resale,” she said.

This has many homeowners who are sitting at below 4 percent interest rates in their current homes thinking they may just stay put awhile, which is also not helping the supply issue for would-be buyers of those resales.

tic. The house, which is assessed at $1.19 million, was on the market for 18 days. Pam Boileau with Ivester-Jackson represented the buyers. º º º A 4,545-square-foot house on the lake has sold for $1.87 million after being listed at $1.9 million by Sunny Yates with Keller Williams in Cornelius. The house, which was on the market 2.5 months, has a tax value of $1.28 million.

Located at 16418 Pinwhenny Road, the house has a coastal look with waterviews from most of the rooms. There is a master suite and four guest suites, not to mention a resort style pool area.

Lori Jackson of Ivester Jackson represented the buyers.

In Cornelius

In Mooresville

A 6,000-square-foot home at 19209 Hidden Cove Lane in The Peninsula has sold for $1.3 million after being listed by Dixie Dean of Allen Tate for $1.349 million. The lakefront home sits on a quiet cove with good views, balconies, a screened porch and a lakefront terrace. The lake level includes a man cave and a wine cellar. There is an office on the main floor, as well as a master suite with a fireplace. Upstairs are three bedrooms and a walk-in at-

A 6,300-square-foot home at 110 Jade Spring Court in West View has sold for $1.485 million after being listed at $1.595 million by Laura Chilcoat of Lake Norman Agents. The waterfront house, which has a pool and hot tub as wells as a dock, has a tax value of $1.23 million. The four-bedroom brick home has a three-car garage and abundant views of the lake. The West View is off Langtree Road. Melissa Stone with Allen Tate represented the buyers.

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21

Business Today

22 September 2016

Personal Finance

Presidential economics:

Policies matter more than election cycles You & Your Money

Editor Dave Yochum nebiztoday@gmail.com Sales & Marketing Director Gail Williams gail.todaypubs@gmail.com General Manager Stephen Nance production.todaypubs@gmail.com

By Christopher W. Davis From an investment perspective, should we worry about who our next president is?

A quick search of the internet will offer opinions based on the relative merits of each candidate and their political party. It may be an entertaining discussion, but even in this particular election, does it really matter?

I’d like to suggest it doesn’t. Remember, this is an investment response, not a political one.

Investment theories about presidents have been around for a long time, including the presidential cycle theory. This theory essentially claims that the market performs better in an election year than the first year following the election. In essence, this theory suggests that the Federal Reserve is less likely to raise interest rates prior to a presidential election, deferring until the following year. Historically, rising interest rates have been bad for stocks.

There are even theories providing historical rates of return for markets given Republican or Democratic presidents. Some theories even go as far as to compare the president’s party with the controlling party in the House of Representatives and Senate. So,

how relevant are these “time-tested” theories?

Again, entertaining, if not always predictive. Let’s look at the math.

Given a four-year election cycle, over 100 years, we have a sample size of 25 presidential elections. Ask any statistician how confident they are of guessing how many times a coin lands head up if flipped 25 times. They might ask for a larger sample size to improve their confidence. In 100 years the U.S. economy has gone from agrarian, to industrial, to information based.

Today, one might argue that we entered the age of imagination with the dawn of the internet. Many economists are focused on globalization and demographics as economic drivers.

It seems hard to me to explain how a single man or woman, even a powerful U.S. president, can offset these broad, secular, economic trends.

If we must study government, actual policies, not political narrative drive corporate profits and stocks. Governmental policies provide guidelines on how businesses will allocate their resources. Last December’s omnibus spending bill quietly addressed certain Social Security and corporate tax credit issues. Just ask your neighbor what they remember about this. While this

is boring and likely underreported, it Chris Davis may provide insight into 2017.

Many who follow the federal government are suggesting that regardless of who wins the presidential election, both parties are in favor of a 2017 fiscal stimulus. One may only speculate as to how large the stimulus would be, which industries may benefit, and if this could cause enough growth to influence the Federal Reserve towards increasing the Federal Funds interest rate. Do you think the newly elected president will take credit for an economic stimulus?

It strikes me that over four years; broad, boring global trends are more likely to influence the rate of return on your investments than a single political candidate. Still, it is entertaining to speculate.

Christopher W. Davis, a Certified Financial Planner, is managing director-investments at Davidson Wealth Management, Wells Fargo Advisors in Davidson. A graduate of UNC-Chapel Hill, Davis has been an investment adviser since 1981. His column will appear monthly.

Book Review: Only Humans Need Apply The automation of tasks is now a threat to all jobs, from menial work to “knowledge work.” Business experts Thomas Davenport and Julia Kirby present the challenges facing employees, today and in future generations.

They encourage workers at all levels to prepare.

They offer startling predictions about the speed at which smart machines will take over tasks that now require employees with extensive experience and education.

This practical guide to remaining relevant in the years ahead proves to be a smart, important read for career planning. getAbstract encourages employees, managers and executives to take heed.

Thomas H. Davenport and Julia Kirby.

Only Humans Need Apply: Winners and Losers in the Age of Smart Machines. HarperBusiness, 2016. 288 pages.

ISBN-13: 9780062438614.

Contributing Writers Erica Batten, Donald White, Cheryl Kane, Marty Price, Dave Vieser, Cathryn Piccirillo Sherman Phone 704-895-1335 The entirety of this newspaper is copyrighted by Business Today, LLC 2016 with all rights reserved. Reproduction or use without permission of any content is prohibited. Business Today is an Equal Opportunity Employer.

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September 2016

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