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Winning More Tenant Rep AssignmentsMike Lipsey
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Best Tenant Rep Database Wins
• Associations –Big Brothers/Big Sisters, United Way, Economic Development Counsel
• Affiliations – Home Health Care, Merchants Associations, Bar Association
• Vertical – CareerOneStop.com
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# IndustryFastest Growing Industries
Percent Change 2008 2018
1 Management, scientific, and technical consulting services 1,008,900 1,844,100 83%
2 Services for the elderly and persons with disabilities 584,700 1,016,100 74%
3 Offices of physical, occupational and speech therapists, and audiologists 251,300 392,100 56%
4 Data processing, hosting, and related services 261,600 399,400 53%
5 Home health care services 958,000 1,399,400 46%
6 Specialized design services 143,100 208,700 46%
7 Computer systems design and related services 1,450,300 2,106,700 45%
8 Offices of mental health practitioners (except physicians) 59,100 84,400 43%
9 Other general merchandise stores 1,490,100 2,096,800 41%
10 Medical and diagnostic laboratories 218,500 305,500 40%
11 Offices of all other health practitioners 94,300 129,100 37%
12 Veterinary services 296,500 399,300 35%
13 Lessors of nonfinancial intangible assets (except copyrighted works) 28,200 37,900 34%
14 Waste treatment and disposal 100,900 135,400 34%
15 Offices of physicians 2,265,700 3,037,900 34%
16 Personal care services 621,600 819,100 32%
17 Facilities support services 132,700 173,600 31%
18 Other information services 133,600 174,700 31%
19 Offices of chiropractors 117,900 153,900 31%
20 Software publishers 263,700 342,800 30%
21 Support activities for road transportation 85,600 110,900 30%
22 Support activities for air transportation 167,200 216,600 30%
23 Plumbing, heating, and air-conditioning contractors 982,900 1,267,100 29%
24 Independent artists, writers, and performers 50,400 64,800 29%
25 Offices of dentists 818,800 1,052,200 29%
Fastest Growing Industries (National)
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# IndustryAverage Weekly
WagesAverage Annual
Wages1 Sports Teams and Clubs $3,557 $184,954
2 Commodity Contracts Dealing $3,407 $177,178
3 Securities Brokerage $3,118 $162,155
4 Miscellaneous Intermediation $3,073 $159,808
5 Portfolio Management $2,969 $154,364
6 Offices of Other Holding Companies $2,806 $145,904
7 Trust, Fiduciary, and Custody Activities $2,749 $142,937
8 Securities and Commodity Exchanges $2,749 $142,956
9 Commodity Contracts Brokerage $2,711 $140,981
10 Investment Banking and Securities Dealing $2,641 $137,333
11 Open-End Investment Funds $2,596 $134,989
12 Crude Petroleum and Natural Gas Extraction $2,592 $134,791
13 Electronic Computer Manufacturing $2,536 $131,891
14 International Trade Financing $2,514 $130,698
15 Natural Gas Liquid Extraction $2,405 $125,058
16 Electronic Auctions $2,351 $122,237
17 Independent Artists, Writers, and Performers $2,311 $120,157
18 Miscellaneous Financial Investment Activities $2,249 $116,939
19 Computer Terminal Manufacturing $2,230 $115,948
20 Software Publishers $2,225 $115,676
21 Investment Advice $2,213 $115,074
22 Reinsurance Carriers $2,212 $115,047
23 Flavoring Syrup and Concentrate Manufacturing $2,186 $113,681
24 Internet Publishing and Broadcasting and Web Search Portals $2,155 $112,061
25 Custom Computer Programming Services $2,109 $109,685
Highest Paying Industries (National)
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# IndustryFastest Growing Industries
Percent Change 2008 2018
1 Biomedical engineers 3,100 5,600 81%
2 Biochemists and biophysicists 4,800 7,100 48%
3 Medical scientists, except epidemiologists 26,200 38,500 47%
4 Personal and home care aides 346,500 504,700 46%
5 Home health aides 54,300 78,000 44%
6 Physician assistants 8,100 11,500 42%
7 Separating, filtering, clarifying, precipitating, and still machine setters 7,300 10,200 40%
8 Physical therapist aides 5,900 8,100 37%
9 Electrical and electronics repairers, powerhouse, substation, and relay 1,100 1,500 36%
10 Veterinary technologists and technicians 9,400 12,700 35%
11 Veterinarians 5,600 7,500 34%
12 Physical therapist assistants 4,200 5,600 33%
13 Financial examiners 3,100 4,100 32%
14 Computer software engineers, applications 80,900 106,100 31%
15 Emergency medical technicians and paramedics 14,300 18,700 31%
16 Medical assistants 76,100 99,400 31%
17 Medical equipment repairers 4,000 5,200 30%
18 Radiation therapists 2,000 2,600 30%
19 Skin care specialists 4,100 5,300 29%
20 Surgical technologists 8,900 11,500 29%
Fastest Growing Industries (CA)
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# IndustryAverage Hourly
WagesAverage Annual
Wages
1 Anesthesiologists $80.00+ $166,400+
2 Athletes and Sports Competitors N/A $166,400+
3 Chief Executives $80.00+ $166,400+
4 Dentists, All Other Specialists $80.00+ $166,400+
5 Internists, General $80.00+ $166,400+
6 Judges, Magistrate Judges, and Magistrates $80.00+ $166,400+
7 Obstetricians and Gynecologists $80.00+ $166,400+
8 Oral and Maxillofacial Surgeons $80.00+ $166,400+
9 Physicians and Surgeons, All Other $80.00+ $166,400+
10 Psychiatrists $80.00+ $166,400+
11 Surgeons $80.00+ $166,400+
12 Family and General Practitioners $77.37 $160,900
13 Pediatricians, General $75.69 $157,400
14 Orthodontists $72.68 $151,200
15 Lawyers $68.12 $141,700
16 Architectural and Engineering Managers $66.68 $138,700
17 Natural Sciences Managers $66.48 $138,300
18 Computer and Information Systems Managers $64.42 $134,000
19 Marketing Managers $63.15 $131,400
20 Dentists, General $61.02 $126,900
Highest Paying Industries (CA)
Want More? Contact Us at Mike@lipseyco.com Copyright © The Lipsey Company • www.lipseyco.com • 407.774.2558
Selecting Market•Validate Through Additional Research•NOT Aggressively Being Pursued•Determine Depth of Group• Identify Logical Process • Fit for your Team•GROWTH INDUSTRIES: 250 – 500 Prospects (Sweet Spot)
Identifying Emerging Markets
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# IndustryFastest Growing Industries
Percent Change 2008 2018
1 Management, scientific, and technical consulting services 1,008,900 1,844,100 83%
2 Services for the elderly and persons with disabilities 584,700 1,016,100 74%
3 Offices of physical, occupational and speech therapists, and audiologists 251,300 392,100 56%
4 Data processing, hosting, and related services 261,600 399,400 53%
5 Home health care services 958,000 1,399,400 46%6 Specialized design services 143,100 208,700 46%
7 Computer systems design and related services 1,450,300 2,106,700 45%
8 Offices of mental health practitioners (except physicians) 59,100 84,400 43%
9 Other general merchandise stores 1,490,100 2,096,800 41%
10 Medical and diagnostic laboratories 218,500 305,500 40%
11 Offices of all other health practitioners 94,300 129,100 37%
12 Veterinary services 296,500 399,300 35%
13 Lessors of nonfinancial intangible assets (except copyrighted works) 28,200 37,900 34%
14 Waste treatment and disposal 100,900 135,400 34%
15 Offices of physicians 2,265,700 3,037,900 34%
16 Personal care services 621,600 819,100 32%
17 Facilities support services 132,700 173,600 31%
18 Other information services 133,600 174,700 31%
19 Offices of chiropractors 117,900 153,900 31%
20 Software publishers 263,700 342,800 30%
21 Support activities for road transportation 85,600 110,900 30%
22 Support activities for air transportation 167,200 216,600 30%
23 Plumbing, heating, and air-conditioning contractors 982,900 1,267,100 29%
24 Independent artists, writers, and performers 50,400 64,800 29%
25 Offices of dentists 818,800 1,052,200 29%
Fastest Growing Industries (National)
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Identifying Emerging Markets
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1 2
Identifying Emerging Markets
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Identifying Emerging Markets
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List Grabber (Building A Database)
• Grab Content from Online Directories• Import into Excel and CRM Systems
Identifying Emerging Markets
Tier 1
Tier 2
Tier 3
Tier 4Major Account – Association/ Affiliations
Direct Mail – The Perfect Call
Article with hand written note
Brochure – USB
Mailer – Postcard – Notes
E-Touch – E-Gift – E-Comp – SEO
Lipsey’s 55
Admin/CRM Manager
Admin/ Marketing Manager
Associate Broker
Senior Broker
Senior Broker
Copyright © The Lipsey Company • www.lipseyco.com • 407.774.2558
Lipsey’s 55“My Clients are my friends and my friends are my Clients” – Tom Joyce
CUSTOMER
1. NAME _______________________________ NICKNAME ____________________________2. COMPANY NAME ___________________________________________________________________3. COMPANY ADDRESS _________________________________________________________________4. HOME ADDRESS ____________________________________________________________________5. TELEPHONE: BUSINESS ________________________ CELL _______________________6. BIRTH DATE ________________ PLACE ________________________________________________ 7. HAT SIZE _____________ SHOE SIZE ______________ SHIRT SIZE _______________
EDUCATION
8. HIGH SCHOOL ______________________________________________________________________9. COLLEGE __________________________________________________________________________10. COLLEGE FRATERNITY/SORORITY___________________SPORTS______________________________11. COLLEGE EXTRACURRICULAR ACTIVITIES ________________________________________________12. MILITARY SERVICE __________________________________________________________________
Copyright © The Lipsey Company • www.lipseyco.com • 407.774.2558
Lipsey’s 55“My Clients are my friends and my friends are my Clients” – Tom Joyce
FAMILY
13. SPOUSES NAME ___________________________ OCCUPATION ____________________________14. SPOUSES INTERESTS ________________________________________________________________15. ANNIVERSARY _____________________________________________________________________16. CHILDREN, IF ANY, NAMES/AGES ______________________________________________________17. CHILDREN'S COLLEGE EDUCATION (IF APPLICAPLE) ________________________________________18. CHILDREN'S INTERESTS ______________________________________________________________
BUSINESS BACKGROUND
19. CAREER BACKGROUND (Most recent first)COMPANY____________________________________________________________________________LOCATION____________________________________________________________________________TITLE____________________________________DATES_______________________________________
COMPANY____________________________________________________________________________LOCATION____________________________________________________________________________TITLE____________________________________DATES_______________________________________
Copyright © The Lipsey Company • www.lipseyco.com • 407.774.2558
Lipsey’s 55“My Clients are my friends and my friends are my Clients” – Tom Joyce
BUSINESS BACKGROUND
20. OFFICE DÉCOR _____________________________________________________________________21. ASSOCIATIONS / AFFILICATIONS________________________________________________________22. INTERVIEWS OR RECENT ARTICLES _____________________________________________________23. WHAT BUSINESS RELATIONSHIP DOES HE/SHE HAVE WITH OTHERS IN OUR24. COMPANY? ___________________________________________________________________________
WHO ARE THEY? ____________________________________________________________________25. WHAT OTHER PEOPLE IN OUR COMPANY KNOW THE CUSTOMER? ___________________________26. TYPE OF CONNECTION _______________ NATURE OF RELATIONSHIP__________________________27. WHAT DO YOU FEEL IS HIS/HER LONG RANGE BUSINESS OBJECTIVE? __________________________
__________________________________________________________________________________28. WHAT DO YOU FEEL IS HIS/HER IMMEDIATE BUSINESS OBJECTIVE? ___________________________
__________________________________________________________________________________29. WHAT DO YOU THINK IS THE BEST OPPORTUNITY TO WORK WITH THIS CLIENT?
__________________________________________________________________________________
Copyright © The Lipsey Company • www.lipseyco.com • 407.774.2558
Lipsey’s 55“My Clients are my friends and my friends are my Clients” – Tom Joyce
SPECIAL INTERESTS
30. CLUB, PROFESSIONAL ASSOCIATIONS OR SERVICE CLUBS (Masons, Kiwanis, etc.)_____________________________________________________________________________________
31. POLITICALLY ACTIVE? ________________ PARTY _______________________________________
32. ACTIVE IN COMMUNITY? _______ HOW? ________________________________________________33. SENSITIVE ITEMS NOT TO BE DISCUSSED WITH CUSTOMER (i.e.: Divorce, AA Member, etc.)
__________________________________________________________________________________34. ON WHAT SUBJECTS (OUTSIDE OF BUSINESS) DOES THE CUSTOMER HAVE STRONGFEELINGS? _________________________________________________________________________
LIFESTYLE
35. FAVORITE PLACES FOR LUNCH____________________ __________________ _______________DINNER____________________ __________________ _______________
36. FAVORITE ITEMS ON MENU ____________________ ___________________ _____________________________________________ __________________________ __________________________
Copyright © The Lipsey Company • www.lipseyco.com • 407.774.2558
Lipsey’s 55“My Clients are my friends and my friends are my Clients” – Tom Joyce
LIFESTYLE
37. DOES CUSTOMER OBJECT TO HAVING ANYONE BUY HIS/HER MEAL? __________________________38. HOBBIES AND RECREATIONAL INTERESTS ________________________________________________39. SPECTATOR SPORTS INTEREST: SPORTS AND TEAMS _______________________________________40. ARE THEY INTO CARS? ________ _______________________________________________________41. CONVERSATIONAL INTERESTS _________________________________________________________42. WHAT ADJECTIVES WOULD YOU USE TO DESCRIBE THE CUSTOMER? __________________________
__________________________________________________________________________________43. WHAT IS HE/SHE MOST PROUD OF HAVING ACHIEVED? ____________________________________
__________________________________________________________________________________44. WHAT DO YOU FEEL IS CUSTOMER'S LONG RANGE PERSONAL OBJECTIVE?
__________________________________________________________________________________45. WHAT DO YOU FEEL IS THE CUSTOMER'S IMMEDIATE PERSONAL GOAL? ______________________
__________________________________________________________________________________
Copyright © The Lipsey Company • www.lipseyco.com • 407.774.2558
Lipsey’s 55“My Clients are my friends and my friends are my Clients” – Tom Joyce
THE CUSTOMER AND YOU
46. WHAT ARE THE PRIORITIES OF THE CUSTOMER'S MANAGEMENT? ______________________________________________________________________________________________________________
47. WHAT SERVICE LINES CAN YOU SUGGEST? _______________________________________________48. FINANCIAL METRICS: EARNINGS PER SHARE _____________ NOI ______________
FUNDS FROM OPERATIONS ___________ CASH FLOW _____________ NPVF________49. DO THEY SEE THE BIG PICTURE OR DETAILS? _____________________________________________
Copyright © The Lipsey Company • www.lipseyco.com • 407.774.2558
Lipsey’s 55“My Clients are my friends and my friends are my Clients” – Tom Joyce
THE CUSTOMER AND YOU50. COGNITIVE STYLE:
COGNITIVE
STYLE
DEFINITION YES / NO
EXTRAVERT Processing information through social interaction, schedule more face to face meetings
vs sending memos and written communication
INTROVERT Develops ideas and makes decisions in isolation, responds after reflection, prefers
written form of communication to presentations / meetings
SENSING Focuses on details, learns experientially, “knows” something because she/he has seen or
experienced it
INTUITIVES Learns theoretically, sees similarities between two concepts, “knows” something because
it is a logical deduction or extension of a theory/concept
THINKING Decides analytically by examining facts, logical, objective, examines cause and effects
beliefs to make decisions
FEELING Decides on the basis of feeling, uses logic to support feelings, relies on the affective
component of attitude over cognitive component
JUDGING Primary emphasis is on making decisions and coming to closure, Prefers order and
structure, Like to finish one task before starting another, Plans activities entirely before
commencing
PERCEIVING Primary emphasis is on perceiving, or gathering of information, Constantly looking for
new information before making decision, Moves from one project to another, Prefers to
remain flexible and avoid fixed plans, to keep options open
Copyright © The Lipsey Company • www.lipseyco.com • 407.774.2558
Lipsey’s 55“My Clients are my friends and my friends are my Clients” – Tom Joyce
THE CUSTOMER AND YOU
51. BEST WAY TO COMMUNICATE? BUSINESS LINE _____________ CELL ____________ EMAIL _______52. DO THEY USE SOCIAL MEDIA? WHICH ONES? _____________________________________________53. DO YOU HAVE A MUTUAL COLLEAGUE/FRIEND? CAN THEY INTRODUCE YOU? __________________54. COMPANY’S MISSION STATEMENT
____________________________________________________________________________________________________________________________________________________________________
55. WHAT ARE THIS YEAR’S 3 MOST IMPORTANT OBJECTIVIES FOR THE CLIENT? ______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
*See Attached Run Clear Worksheet – This should be completed after Lipsey’s 55 and before a Sales Presentation
Excerpts taken from Mackay 66 – Mackay Envelope Corporation Minneapolis, MN Copyright 1983
RUN CLEAR WORKSHEET
Category Description
R Resources
U Urgency
N Needs
C Causes
L Loyalty
E Expectations
A Authority
R Revenue
RUN CLEAR WORKSHEETCategory Description Score
R 1 2 3 4 5
U 1 2 3 4 5
N 1 2 3 4 5
C 1 2 3 4 5
L 1 2 3 4 5
E 1 2 3 4 5
A 1 2 3 4 5
R 1 2 3 4 5
Total Range 8 – 40 ___
RUN CLEAR WORKSHEET
Category Description Score
R 40% Leveraged. 1 2 3 4 5
U Needs to sell by 4th Quarter. 1 2 3 4 5
N Net Leased Property or little management required. 1 2 3 4 5
C Tired of day to day management. 1 2 3 4 5
L No relationship with other brokers. 1 2 3 4 5
E Access to buyers, sell in 4 months. 1 2 3 4 5
A Managing Partner will seek input from Limited Partners. 1 2 3 4 5
R Will pay market fee. 1 2 3 4 5
Total Range 8 – 40 32
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Document Research
www.10KWizard.com• Now Morningstar Document Research• Online Site Offering a Variety of Financial
Information• Specifically for Publicly Traded Companies• Site is Easy to Navigate and Affordable• Approximately $400 / Annual Subscription• Offers Online Training and Technical
Support
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Establishing I-RRR and C-RRR (Private Companies)
Users in the United States• www.BizStats.com – Free Financial Tools and
Business Statistics• www.LipseyCo.com – Detailed Financial
Information for a Fee
Users in the Canada• StaCan.GC.CA – Canadian Business Statistics• Offers Online Training and Technical
Support
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Identifying I-RRR’s
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Identifying I-RRR’s
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Subjective & Economic Considerations
1. Subjective Considerations• Location• Building Age• Amenities
2. Economic Considerations• Client’s Business Model• Rent to Revenue Ratio’s• Dollars to Occupy Ratio
*Factors to be rated from 1 – 5 by tenant, with 5 being the best.
Subjective Considerations
Architecture
Lobbies
Corridors
Restrooms
Elevators
Signage
Cleanliness
Other Tenant
Amenities
Area
Location
Total
300 W Adams 190 S La Salle 29 N Wacker DR
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Calculating Dollars to Occupy
I-RRR (Industry Rent to Revenue Ratio)• Industries Average Revenue Dedicated to
Rent
C-RRR (Client’s Rent to Revenue Ratio)• Client’s Revenue Dedicated to Rent
DTOR (Dollars to Occupy Ratio)• I-RRR ± Other Expenses ± Market
Conditions
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I-RRR (Industry Rent to Revenue Ratio)*Annual Gross Revenue = Projected Base Rent
(Example) 4.3 (I-RRR) * 500,000 (Annual Gross Revenue) = Projected Base Rent
* After Year 1, Increase Annual Gross Revenue by 8%
Contract Year Annual Gross Revenue I - RRRProjected Base
Rent
2015 $5,000,000 4.30% $215,000
2016 $5,400,000 4.30% $232,200
2017 $5,832,000 4.30% $250,776
2018 $6,298,560 4.30% $270,838
2019 $6,802,445 4.30% $292,505
Projected Base Rent
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I - RRR
O/E Other Operating Expenses
M/C Market Conditions
DTOR Dollars To Occupy Ratio
5
2
2
9
+
+
=
Calculating Dollars to Occupy
Dollars to Occupy Ratio
Contract Year
300 W Adams 190 S La Salle 29 N Wacker DR
2015
2016
2017
2018
2019
Present Value
Divide by Lease Term
Divide by Usable SF
Annual Gross
Revenue
Base Rent
Dollars to
Occupy
5 M
5.4 M
5.832 M
6.3 M
6.8 M
210,000
226,800
244,944
264,539
285,702
450,000
486,000
524,000
566,870
612,219
Base Rent
Total DTO
Base Rent
Total DTO
Base Rent
Total DTO
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