Paramount Chamber 3rd Annual Poker Tournament Winners
The Paramount Chamber recently held its third successful poker tournament. Close to 100 people participated in the event which was co-sponsored by SC Fuels and Dusk to Dawn Urgent Care. The tournament included dinner courtesy of Alondra Hot Wings and a putting contest for which the winner received a golf foursome donated by Friendly Hills Country Club in Whittier.
Tournament winners received great prizes including a P-51 Mustang airplane ride (donated by, ACE Clearwater, Inc.), one thousand dollars in American Express cards (donated by, Northgate Gonzalez
Market), and a Samsung Smart TV (donated by, Marukan Vinegar USA).
The event serves as a fundraiser for the Paramount Chamber of Commerce which uses the money to support the chamber’s mission to promote economic growth in the City of Paramount. “The Chamber really appreciates all the support we received from local businesses who participated as sponsors, donated prizes, or just showed up to have fun. Without their support we would not be able to raise the funds we need to operate the Chamber,” said Chamber President Gary Johnson.
Big winners in the Paramount Chamber Poker Tournament sponsored by SC Fuels and Dusk to Dawn Medical Care. From left; 2nd place Reymond Ramirez, 1st place Joyce Williams-Petrie, and 3rd place Charles Baylor.
Recipient of Senator Ricardo Lara 2015 Excellence in Business Award
Mobile City Council
Come out and visit with your elected representatives as part of our series of “Mobile City Council” events that we are holding throughout town on a quarterly basis. These are in addition to the regularly scheduled Council meetings at City Hall.
The Council’s second meet-andgreet with community members will be at Spane Park, 14400 Gundry Ave., outside the Paramount Petroleum Community Learning Resource Center on Tuesday, September 20, from 5:00 –5:45 p.m.
Say hello, ask questions, share your thoughts and ideas. Hope to see you there.
Paramount Youth Commission Forming, Applications Being Accepted
The City has joined with local service clubs to create a Youth Commission to provide a voice for Paramount’s high schoolers to express their concerns, learn about programs and initiatives available to them, and help foster a sense of community spirit.
The Paramount Youth Commission will feature 15 unpaid volunteer members who are enrolled as Paramount High School students in the 9th through 12th grades or are Paramount residents that attend non-PUSD schools in those same grades.
The Paramount Lions Club and Paramount Rotary currently have youth clubs operating at Paramount High: the Leos and Project Interact, respectively. It is hoped that other service clubs, through the collaboration with the Youth Commission, will be able to develop similar programs on campus and that all the clubs might experience an increase in participation in their organizations.
To start, there will be at least one member on the Commission from the following: the Leos, Project Interact, PHS Associated Student Body (ASB), and JROTC.
“Money and success don’t change people; they merely amplify what is alredy there.”
– Will Smith
The Youth Commission will meet monthly at the Paramount Park Community Center and on special occasions in the City Council Chambers.
The inaugural Commission is scheduled to begin in October.
The deadline to receive applications is Sept. 23. Copies are available at the Activities Office at Paramount High School, the City’s Recreation Department office, the Paramount Park Community Center, and at paramountcity. com. The service clubs will then review the applications and identify the applicants they wish to interview for the 15 positions.
Ultimately, the goal is that the youth commissioners will engage their peers, have a way to provide community service, and serve as ambassadors to fellow students and their parents as well as provide insight to community leaders about the issues and needs of our youth population.
For more information, please call (562) 220-2121.
Paramount Park Pet Clinic
The City and SEAACA (Southeast Area Animal Control Authority) will be presenting a Vaccination Clinic and Pet Care Fair on Sunday, September 18 from 11:00 a.m. to 2:00 p.m. at Paramount Park, 14400 Paramount Blvd.
The Fair will offer a chance to get vaccinations and pet licenses all in one place. It will feature pet-related information, entertainment, family activities, jumpers for the kids, information on disaster preparedness, and food vendors. Cats and dogs will also be available for adoption.
The event is free. Rabies vaccinations are inexpensive ($5.00 + $2.00 disposal fee – please bring any previous vaccine records).
Remember to have all pets on a leash.
For more information, visit www. seaaca.org or call (562) 803-3301.
More Pet News … Licensing at SEAACA
In the past, if a Paramount resident adopted a new dog from SEAACA or picked up their impounded pet from the Downey facility, they could not bring the pooch home until getting a license at Paramount City Hall.
Now, the City Council has made it
more convenient for pet owners in these situations. Starting this month, you can obtain the licenses right there at the SEAACA facility. For more information about SEAACA and its services, visit the above referenced website.
Arts and Crafts at the Farmers Market
Attention all artists and crafters! The operator of the Farmers Market in Progress Park has begun an “Artisan’s First Friday” that features craft vendors to complement the existing prepared food, produce, and other products like soaps and oils.
The market itself takes place every Friday from 9:30 a.m. to 1:30 p.m. at the park, 15500 Downey Ave.
The art/craft section will be held on the first Friday of each month and will feature original handmade works.
If you would like to have a booth to sell your stuff, email SoCalMarketManager@gmail.com to sign up.
Also, the market is looking for local musicians to entertain the crowds every week. For the chance to promote your band or solo performances, contact the same email as above.
Eco-Friendly Companies in Paramount
The Industrial Waste Section of the Sanitation Districts of Los Angeles County presents “Good Corporate Citizen” certificates each year to businesses that are in compliance with industrial wastewater discharge requirements. While more than 1,000 companies in the county are eligible, only a few hundred actually earn this award by meeting some very strict standards.
For the 2015 awards, three of the honorees are from Paramount. All have shown a sense of social responsibility and protection of the environment by properly discharging their industrial wastewater, which keeps it off our beaches and out of the ocean, in addition to saving water and energy. They deserve a big “green” thank you.
The Paramount companies are: ACE Clearwater Enterprises; Durkee Testing Laboratories; and ST & I, Inc.
Representatives from these businesses will be recognized at the September 6 City Council meeting.
Mayor, Daryl Hofmeyer
Back to School – Truancy Enforcement Increases
There are plenty of facts, figures, and details about distracted driving, but the California Office of Traffic Safety wants you to know the plain and simple ones:
• If something falls to the floor, pull over before trying to reach it.
increases truancy sweeps when the school year commences.
• 80 percent of vehicle crashes involve some sort of driver inattention.
Project LEAD Sending Positive Message to Paramount Fifth Graders
Daytime enforcement focuses on curtailing the activities of minors who are not on campus during regular school hours. According to Paramount’s Municipal Code, regular school hours are from 8:30 a.m. to 2:30 p.m.
• Up to 6,000 people nationwide are killed in crashes where driver distractions are involved.
Patrol deputies issue citations to minors violating the truancy laws. This sends a message to juveniles and assists in proactive efforts to curtail crime.
• Talking on a cell phone or texting is the number one source of driver distractions.
Minors who are cited for a truancy violation may face the following:
• Texting takes your eyes off the road for an average of five seconds, long enough to travel the length of a football field at 55 mph. Most crashes happen with less than three seconds reaction time.
* Fines starting at $150 and going up to $450 for subsequent violations.
* Community service hours.
* Suspension from school.
Paramount has its own dedicated District Attorney – Kelly Tatman – who works out of the Sheriff’s Station. Her duties include making sure that criminal investigations and prosecutions in town receive full attention and don’t fall through the cracks at the larger County D.A.’s Office.
It is very important for parents and guardians to know about the potential legal consequences for any minor who is found to be truant from school.
In addition to these penalties, the parents/guardians of the cited minor may be required to accompany the minor to court and may be required to successfully complete an intervention program.
Stop Distracted Walking
• The act of talking on a cell phone, even hands free, can give you “inattention blindness,” where your brain isn’t seeing what’s right in front of you. You aren’t even aware that you are driving impaired. If you think you can handle both driving and talking on a cell phone or texting, you are kidding yourself and putting us all at risk.
For more information, please call (562) 220-2002.
Tatman has been visiting a class of 36 students at Jefferson School as part of Project LEAD. The program, which goes into the classroom once a week for 20 weeks during the school year, uses volunteers like Tatman from the D.A.’s Office to teach fifth-graders about the law and help them recognize the social and legal consequences of criminal behavior.
With school back in session, and kids walking to their campus each day, make sure that before children head out they are reminded of these year-round safety tips:
• Never walk while texting or talking on the phone.
• If texting, move out of the way of others and stop on the sidewalk.
Sadly, too many young people first become acquainted with the justice system as delinquents. Project LEAD is designed to avoid that scenario.
• Never cross the street while using an electronic device.
• Do not walk with headphones on.
• Be aware of the surroundings.
Distracted driving is anything that takes your eyes or mind off the road or your hands off the steering wheel – especially texting and cell phone use, whether hands-free or handheld. Who’s doing it? Most of us. It has been estimated that, at any one time, more than 10 percent of drivers are using a mobile device.
• Always walk on the sidewalk if one is available; if a child must walk on the street, he or she should face oncoming traffic.
A ticket for $159 for texting or talking on a cell phone is a major distraction to your wallet.
• Look left, right, then left again before crossing the street.
• Cross only at crosswalks.
What can you do? Most important, obey the law. It’s there for a reason. Also, do your best to eliminate distractions:
• Never text and drive.
• Turn off your phone when you get behind the wheel.
• Don’t text or call someone when you know they are likely to be driving.
• Make a pact with your family, spouse, and caregivers never to use the phone with kids in the car.
• No eating or drinking while driving.
• Don’t program your GPS, MP3 player, or other devices while driving.
• Pull over and stop to read maps.
• No grooming.
• No reading.
• No watching videos.
The class from Jefferson recently went on a field trip to the Museum of Tolerance. (They will also go to a local courthouse). In addition, Project LEAD’s curriculum includes speakers connected to the criminal justice system and a mock trial involving either drug selling or gun possession on campus. Students are assigned roles and argue a criminal case to a jury consisting of other students. Teachers and parents attend, too.
At the end of the program, the kids will participate in a graduation ceremony and receive a certificate of completion from the D.A.’s Office at a meeting of the Paramount Public Safety Commission.
• Try not to get too involved with passengers.
The City’s annual “National Night Out” appreciation dinner was held August 1 at Progress Park Plaza. Neighborhood Watch leaders and Sheriff’s Department volunteers were recognized for their commitment and dedication to keeping Paramount a good place to live, work, and play. Each NW leader received certificates from the City, the L.A. County Fire Department, the Office of Speaker Anthony Rendon, and the Office of Congresswoman Lucille Roybal-Allard. Mayor Daryl Hofmeyer and Captain Allen Castellano thanked everyone for their help.
Simple Strategies for Better Event Marketing
Evelyn “Sunny” Stater, Widow of Stater Bros. Founder Lavoy Stater
Turns 100 Years in September
Evelyn “Sunny” Stater, widow of Stater Bros. founder Lavoy Stater will reach 100 years of age in September. To celebrate this landmark occasion, Evelyn’s family will hold a private birthday celebration for her.
In 1935, Evelyn worked for the W.A. Davis grocery store in Yucaipa, California. When the Stater brothers purchased the W.A. Davis grocery store in 1936, they kept Evelyn onboard and she became the FIRST employee of Stater Bros. Markets. Some of her duties included weighing eggs that were brought in to sell, checking, cleaning and keeping books on credit extended to customers.
In 1943, she married Stater Bros. co-founder Lavoy Stater. She worked for Stater Bros. until the birth of her first child in 1948. Evelyn and Lavoy have 3 children, 7 grandchildren and 12 great-grandchildren.
Their son Edward (Ed) retired from Stater Bros. in 2011 as a Senior Vice President and served Stater Bros. for over FORTY-FIVE (45) years.
“Evelyn Stater made countless contributions to Stater Bros. Markets. Without Evelyn’s support in the early days, Stater Bros. future may not have been as Bright and
Blessed,” said Jack H. Brown, Executive Chairman of Stater Bros. Markets. “Women have played a big role in the Stater Bros. success story, but none has played a bigger role than that of Evelyn Stater and the Stater Wives.
“Additionally, thanks to retired Senior Vice President Ed Stater, wife Vicki and sister Christie for documenting and sharing the history of Stater Bros. which reflects all of the contributions the Stater family has made to the Stater Bros. ‘Family’ of Employees,” Brown added.
Paramount Chamber Welcomes New Board Member
Name & Title: Tony Manos, franchise owner of Domino’s Pizza in Paramount
Company Name: MAR Pizza, Inc.
Company Address: 15500 Paramount Blvd., Paramount, CA 90723
Telephone: (562) 663-1400
ext.115
Date Est.: September 27, 1990
Major Product or Service: Hot pizza, sandwiches & pasta for delivery or take-out Why did you join the Chamber? To network within the City, get to know other business professionals and participate in city/chamber events. Where were you born? Los Angeles, CA.
Education/Training: I earned a high school diploma at Hawthorne High School, class of 73’!
Civic Affiliations: Paramount Chamber of Commerce. What is Your Favorite Saying? The more you sweat in practice the less you bleed in the game.
Latest Accomplished Goal: Besides being happily married with 3 sons; having our franchise become the 6th largest franchise in Domino’s domestic system. Philosophy: Do unto others as you would have them do unto you. I only concern myself with what I can control.
I started working for Domino’s Pizza in the summer of 1987 as a part-time order taker in San Gabriel, CA. My work habits caused my manager to ask me if I was interested in learning management. Yes! was my answer and I soon was leaning how to run a store – that’s when I fell in love with Domino’s! I love training, customer service and sales building. As a store manager I excelled at all three and I set several sales records and became a training manager. After two years I was promoted to Area Supervisor and learned to run multiple stores. This took me to the next level of becoming a franchise owner, which I did in late September 1990 when I purchased one store in South Central LA. Since then, along the way I acquired my first partner, Mahmood Saalabi, in late 1993 and my second partner, Rob Scheiper, in the spring of 1997. We moved our office to Paramount in the summer of 1999 and have grown to 81 stores in California, Illinois & South Carolina.
I like to work with people who want more for themselves and are willing to dedicate themselves to be good at what they do. We are surrounded by opportunity and our franchise has been a growth model for Domino’s. I’m most proud of promoting from within our organization to fill our need for managers, supervisors and directors –they’ve all come up in the system from starting at the bottom like I did to attaining positions of leadership. Several have even become franchisees too. – The opportunity we provide is what I’m most proud of about my franchise.
Tony Manos
Eat Frozen Yogurt, Support College Scholarships
Yogurtland at Town Center West will be holding a fundraiser for the Paramount Education Partnership on Monday, Sept. 26, from 2:00 p.m. to 7:00 p.m. during which 20% of what you spend will be donated to the PEP College Scholarship Fund. You will need to show a flyer for your purchase to count. Flyers will be available on City social media and through other outlets.
Thank you to Yogurtland for helping the community. Show your support for education in Paramount and for businesses like Yogurtland that contribute to good causes.
Back to School Tips for Parents
Back to school time can be hectic. Here are some back to school tips to help ensure this school year gets off to a great start, as suggested by the U.S. Department of Education.
Visit the School
Walk or ride the route your child will take and make note of school patrols, crossing guards, and high-traffic areas along the way. Talk to your kids about NOT talking to strangers and find out what, if any, policies your child’s school has regarding early arrivals or late pick-ups. Learn about the school’s entrance and exit policies. Then, if you can, pop in and check out what the inside of the school looks like.
Meet the Teacher
Introduce yourself to your child’s teacher and ask him or her about the preferred method of communication. (Some teachers are active on email and social media, while others prefer the phone or in-person meetings.)
Homework – a Priority
Make homework time a daily habit. Find a quiet and consistent place at home
where your child can complete his or her homework. If your child is having difficulty with his or her homework, make an appointment with the teacher sooner rather than later.
Prepare a Study Area
Set up a special place at home to do school work and homework. Remove distractions. Make it clear that education is a top priority in your family: show interest and praise your child’s work.
Take Charge of TV Time
Limit the time that you let your child watch TV, and when you do decide to watch, make it a family affair. Talk together about what you see and ask questions after the show ends.
Everyone to Bed on Time
During the summer, children aren’t always on a schedule, which is understandable. But proper rest is essential for a healthy and productive school year.
Get a Check Up
It’s a good idea to take your child in for a physical and an eye exam before school starts. Most schools require up-to-date immunizations, and you may be asked to provide paperwork showing that your child has all the necessary shots and vaccines. So, check your state’s immunization requirements. And always keep your own copies of any medical records.
Read to Your Child
Make a plan to read with your child for 20 minutes every day. Your example reinforces the importance of literacy, and reading lets you and your child explore new worlds of fun and adventure together.
Major SponSorS:
SC FuelS and duSk to dawn urgent Care
Decisions, decisions, what to do....stay or fold?
Players were all-in at the chambers 3rd annual poker tournament.
And then there were three - final table at the Paramount Chamber Poker Tournament.
Dr. Eugene Allen (Dusk to Dawn Urgent Care) was surprised to find himself with so many chips, why? Because he just learned the game an hour before by watching YouTube....LOL!
Hovig Ayvazian (Domino’s Pizza) and Brenda Olmos (AppleCare Medical Group).
ACE Clearwater employee Augustine Gonzalez gets a free neck massage from Massuse Nicole Romero.
Dinner for the tournament was donated by Alondra Hot Wings.
Putt for Poker winner Jesse Lopez (AltAir Paramount) took home the golf foursome donated by Friendly Hills Country Club.
Joyce Williams-Petrie (America’s Job Center - SASSFA) took first place in the Paramount Chamber 3rd annual poker tournament. Joyce choose the $1,000 American Express card donated by Northgate Gonzalez Market.
Charles Baylor (Emerald Elevator Consultants) took their place and won the P-51 Mustang Airplane ride, donated by ACE Clearwater.
It was a full house for the chamber poker tournament.
Reymond Ramirez (Custom Magnetics of California) won second place; a Samsung Smart TV donated by Marukan Vinegar USA.
Positively
Paramount Civic Center
paramount places!
Paramount’s Civic Center Plaza is a beautiful botanical oasis, a one-acre garden-like public space with walking paths, benches and dynamic fountains. It links City Hall, Suburban Medical Center and the County Library as a cohesive whole while opening up a larger downtown corridor tying the Pond and the Iceland skating rink together. A special feature is a small park area around the historic “Hay Tree,” which dates back to Paramount’s days as the leading dairy producer in the state. City Hall, 16400 Colorado Ave. Bianchi Paramount Theatres
Eleven state-of-the-art luxury theatres. Featuring stadium seating, digital sound system. Two Screen Drive-In 7770 Rosecrans Avenue at Paramount Blvd.
Paramount Iceland
Home of the world famous Zamboni Ice Machine. Featuring one of the largest indoor ice skating arenas in existence. An historical landmark, with a rich tradition as an Olympic training facility 8041 Jackson St. Paramount Pond
A decorative, restful public plaza, featuring a bronze sculpture garden with nearby coffee house and eateries Corner of Paramount Blvd. & Jackson St.
Paramount’s Outdoor Art Museum
9 By 9 By 9 .................................................................................................Spane Park, 14400 Gundry Ave.
Boxes ...............................................................................................Corner of Downey Ave. & Jefferson St.
Conversation ...............................................................................................City Hall, 16400 Colorado Ave.
Come on Dad .............................................. Paramount Pond, corner of Jackson St. and Paramount Blvd.
Crack the Whip ........................................... Paramount Pond, corner of Jackson St. and Paramount Blvd.
Defiance .............................................................Southwest corner of Paramount Blvd. and Rosecrans Ave.
Delineation ................................................................................................. City Hall, 16400 Colorado Ave.
family ..........................................................................Century Place Apartments, 13810 Paramount Blvd.
fluid ............................................................................... Paramount County Library, 16254 Colorado Ave.
Going for the Goal ...................................... Paramount Pond, corner of Jackson St. and Paramount Blvd.
hole In one ...............................................................................Lyons Industrial Park, 14528 Garfield Ave.
Kai Koo VII ..............................................................................................Alondra Blvd./West of Hunsaker
Modified Box ........................................................Paramount Community Center, 14400 Paramount Blvd.
Origami Pony ...................................................................................... Progress Park, 15500 Downey Ave.
Passage ........................................................................Trammel Crow Industrial Park, 14350 Garfield Ave.
poetry in motion ..........................................................................................................14429 Downey Ave.
Polished Performance ................................. Paramount Pond, corner of Jackson St. and Paramount Blvd. save the Whales .......................................................................Paramount Petroleum, 14700 Downey Ave.
solar sails .........................................................................................................Alondra Blvd. & L.A. River
sonatina ......................................................................................................City Hall, 16400 Colorado Ave.
Speedskater ................................................. Paramount Pond, corner of Jackson St. and Paramount Blvd.
Park, 14528 Garfield Ave. tribute to henry moore .........................................................Paramount Petroleum, 14700 Downey Ave.
Unfolding Star ........................................................................... Progress Park Plaza, 15500 Downey Ave.
.......................................................................................................City Yard, 15300 Downey Ave. Upholding
2016 Distinguished Faculty and Staff Honorees Put Students First at El Camino College Compton Center
El Camino College Compton Center recently announced its honorees for the 2016 Distinguished Faculty and Staff awards at the Annual Faculty and Staff Appreciation Breakfast, an event designed to thank all members of the campus community for their commitment to ECC Compton Center and its educational mission. Eyob Wallano, science instructor; Felecia Hatten, admissions and records specialist; and Robert Rooks, real estate adjunct instructor, were recognized for their dedication to students, ECC Compton Center, and colleagues.
Eyob Wallano, recipient of the Distinguished Faculty award, has served as a member of the science department since 2007 where he teaches microbiology and physiology. He has also held the position of division chair for the Health, Natural Sciences and Human Services Division. He is an advocate for all students, and has made it his mission to have more STEM major students graduate from ECC Compton Center and transfer to four-year universities. He has taken a leadership role in the development of increased opportunities for students interested in pursuing science disciplines. He is the research coordinator for natural sciences and serves as a research mentor for students.
In 2010, he established a studenttended science garden as an effective teaching platform for biology, microbiology, anatomy, physiology, and other academic areas that require significant research experience. In 2015, he established and organized the first annual Microbiology Research Symposium to help students get oriented with scientific research at the undergraduate level. In 2016, he expanded this program to include a Natural Sciences Research Symposium for student participation. He is recognized for going above and beyond to help his students succeed and is sought out by students as a positive mentor and instructor.
“He believes in each and every one of his students’ dreams, and encourages us to get good grades in order to achieve our dreams,” said one ECC Compton Center student.
In addition to teaching, Wallano contributes in many other ways to the campus community. He serves as a member of several committees including: the academic senate, hiring committee, an Accreditation Standards subcommittee, and the Division I Curriculum committee. Wallano received his doctorate in in veterinary medicine from the Kharkov Zoo-Veterinary Institute in Kharkov, Ukraine, and a master’s degree in veterinary science from the National Veterinary School of Lyon in Lyon, France.
Felecia Hatten, recipient of the Distinguished Staff award, is an evaluation specialist in the Admissions and Records Office where she has worked for 18 years. She says
she enjoys working in the Admissions and Records Office because it is the “heart” of the institution and she is able to interact with and assist nearly all students on campus. As a veterans representative, she is honored to have the opportunity to work with veterans, assisting them with enrollment and referring them to student services and veterans resources to help them continue their higher education. She is an active member of the classified employees union and has served as treasurer for the last five years. Hatten is a dedicated philanthropist who volunteers her time and resources to give back to those in need. She served as liaison for the Compton Federation of Employees Local 3486 to support a campaign called “Shoes That Fit” organized by the Federation of Teachers College Staff Guild Local 1521A in Los Angeles to collect new shoes for children in need. The Compton Community College District had 35 employee/union members participate and donate 75 pairs of new shoes for children in the Los Angeles area. She also volunteers with veterans’ organizations, and along with her family, she provides care packages to the homeless in downtown Los Angeles on Christmas. In 2015, Hatten served as the first president of the newly chartered TriCities Branch of the National Association of University Women (NAUW). The NAUW serves women, youth and the disadvantaged by addressing educational needs, advancing the status of women’s issues, and strategically partnering with allied organizations. Robert Rooks, recipient of the Distinguished Adjunct Faculty award, is a part-time real estate instructor at ECC Compton Center. He has more than 30 years of experience in the real estate industry, including 27 years working as a real estate broker/appraiser and property manager. He also has experience in large-scale condominium development and construction. He is dedicated to student success and provides support to students in a variety of ways. In addition to scheduled classes, he teaches courses to help students prepare for the state real estate exam. To provide networking opportunities, he invites his students to professional real estate events and seminars that are usually only available to industry insiders. He arrives an hour early to his classes to make himself available to students, answer questions and address their concerns. He also teaches real estate courses at El Camino College, and serves on the Advisory Committee at ECC Compton Center. Rooks is a licensed California appraiser, and is a member of the California Real Estate Educators Association, Pacific West Board Association of Realtors, California Association of Realtors, and National Association of Realtors.
Worst Mistake in Real Estate – Overpricing
GM Properties, Inc.
Matt
Wagner (562) 696-0200
I am going to discuss a common mistake that I believe some owners make when initially pricing their Commercial Real Estate for market. Overpricing! OK, I know, you always hear from owners that we should list it for over market and if we do not get any fish to bite our lines, then we can always lower the price later down the road. I may tend to think this would be an acceptable strategy even for my own property, however, through my experiences, I have found the opposite to be true. I get that different markets are going to provide sellers with different mentality buyers in the market, but this I believe holds true for most markets. Heck, in today’s crazy market, if you overprice the product you are still going to get good offers simply because we have an abnormal low inventory of Industrial buildings available.
I believe there are pitfalls that can be avoided from initially overpricing the real estate. There is a high probability that in a normal market, overpricing will lead too low or no offers as buyers will tend to believe that the seller is not reasonable and tend to not want to deal with him or her. So in this instance, the normal response would be to simply lower the price if things were not working out with the overpriced product. This will lead some buyers to won-
der what is wrong with a property when the price gets lowered. Offers may come in even lower than where the market should have them. I have seen in many occasions where doing the opposite and underpricing the real estate can have a huge upside in the final sales price of the property. In most markets, bringing a desired property to market below where you think the market is can lead to feeding frenzy type situation where you have several buyers end up fighting over it and eventually you end up with a higher price because you have created a situation where people really want the property and end up willing to pay more for it because they felt like there were many offers and he or she needed to step up in order to get this specific property. It creates a feeling of competition and competitive people like to win, it makes them feel good. I get it, I am competitive and I like to win, so be careful when you are the buyer in this situation that you don’t get carried away and end up outbidding yourself.
I tell you what, all this information has to do with a sellers’ situation also, every situation is different and in some instances the opposite of what I feel is correct would be correct in that situation. Again, you should analyze your situation for what is best for you and your family and I am sure you will make a good decision, but simply be careful with initially overpricing and scaring the market.
C ity S ervi C e S
The following businesses renewed their membership in the Paramount Chamber of Commerce last month, they are celebrating another year as members. Chamber and Business
are made possible by their support.
CROWDFUNDING MISCONCEPTIONS
You’ve heard about crowdfunding. It’s everywhere. You’ve heard about other entrepreneurs raising money to grow their businesses. But if you find yourself muttering any of the following in the mirror, please allow us to share a different perspective on these common misconceptions with you:
1. Crowdfunding Is just Panhandling: If you’re asking for money, you’re actually doing this wrong. Small businesses succeed in “rewards-based” crowdfunding (Indiegogo, Kickstarter) by offering exclusivity, VIP status, and unique pre-sale items and experiences directly to their existing and prospective customer base. Great examples of non-physical offerings are letting people name a product or putting the contributor’s picture/name on a wall of fame.
2. The Best thing about Crowdfunding Is Money: Obviously, additional capital is useful to any business, but it’s not the most useful thing that comes from the crowdfunding process; the greatest rewards come from deeply engaging new and existing customers. When you effectively share your mission and purpose, like-minded customers become your evangelists who do a lion’s share of your marketing for you – for years to come. They often will also help you better develop your productmarket fit, your messaging, even what new products to add to your line or new features to add to your service.
3. It’s a Distraction: Everything you need to do to give you a shot at a successful crowdfunding campaign – expanding your social media reach, improving regular communication with your existing customers or newsletter, identifying and deepening relationships with key influencers, reaching out to media in your niche – all will turbocharge your business, whether you are crowdfunding or not. In fact, odds are, you’ve been meaning to get around to tackling these things anyway; crowdfunding is a perfect way to accomplish all these things and get the benefits mentioned in #2.
4. It’s not as Good as VC Money: To raise money the traditional way, you identified an amount you needed to fuel a growth plan, you held about 50 lunches and 200 phone calls with investors, wrangled them all into a term sheet that gave away as much as 49% of your business and you were left with… money and investors to answer to. You still had to find customers, get them to buy, and hope the enterprise earned enough to create a satisfactory multiple for the investors. With rewards-based crowdfunding, your funding comes from your market. The fundraising is the business. The more you raise, the smarter your business becomes, and the more you are worth. And you still own 100% of your equity.
5. It’ll be Annoying to My Friends
and Colleagues: Data shows that while people may say they’re annoyed by repeated communication from crowdfunding friends, they will actually contribute more, the more they’re contacted. On Indiegogo for example, campaigns that update their followers 31-50 times over the span of the campaign raise over 4 times as much as those that update 0-5 times.
6. The Crowd is Waiting on me for the Crowdfunding Platforms: While there are lots of projects that end up as majority-funded by total strangers, none of them start that way. No one likes to be first to a party, and crowdfunding is similar. Contributors may love you, your business and your offer, but they won’t give to a crowdfunding project until they see that you’ve reached about 30% of your stated goal. That means you have to start the momentum with your rolodex, social media and family.
7. I’ll just Hire Someone to take Care of my Campaign: There are some reputable consultancies who can singlehandedly take over and run your campaign, but they are quite expensive, and will inevitably lack the deep understanding and knowledge of your business, service and product. Expect to be hands-on for a solid 60 days, if you want to give yourself your best shot. This includes preparing your pitch, choosing rewards and doing some hands-on friends & family outreach first, and later getting involved with project updates and synthesizing learning that comes from customers’ feedback.
8. I can do it in My Spare Time: No, you can’t. (And what’s spare time?) Data shows that campaigns with several “owners” far outperform those with a single owner, so, enlist partners. They’ll share the time commitment, broaden your first circle of relationships, and provide a variety of voices to spread the message.
9. If I Use an Equity Platform now, I’ll SCARE OFF Later Investors: If you choose to go the equity crowdfunding route (think AngelList, Crowdfunder, et. al.), you can amass a large number of small-dollar investors who can fuel your growth, often at more favorable terms than you’d get from a VC. The growth you create can better position you for an institutional round, and most if not all VCs recognize a successful equity crowdfunded round as a validation rather than a burden. Maybe the way of the future is what Neil Young’s Pono Music did: they ran a presale, rewards-based crowdfunding campaign that raised over $6 million for their PonoPlayer, then used the momentum created to do an equitybased crowdfunding campaign that sold shares in Pono Music (in part to the same contributors) and raised over $10 million.
10. There’s Nowhere For Me to get Help: I have great news for you: you have the California Small Business Development Centers (SBDC)!
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