B

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N
S
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THE
BusinessJournal
OF WEST CENTRAL OHIO
July 2013
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Deadline for submission is August 30, 2013
The Hancock Leadership program is now accepting RFPs from local organizations
to help the 2014 class choose their local service project. The project proposal must
have a central service component, and be community oriented; it must be able to be
completed on or before June 30, 2014; and funding cannot exceed $15,000. Select ap-
plicants will have the opportunity to present their projects to the class on October 9,
2013. Proposals must be submitted to the Chamber no later than August 30, 2013 for
consideration.
Recent Hancock Leadership class projects include the re-building of the J.T. Boyd
Pavilion at Camp Berry, hosting a Bicentennial Festival at the Hancock County Fair-
grounds for local families, Constructing a greenhouse for Blanchard Valley Center, cre-
ating a multi-sensory playroom for Special Kids Therapy; preparing the ReStore build-
ing and hosting a grand opening there for Habitat for Humanity; Moving 16 agencies
into the Family Center; and the construction of the All-Star Playground at the Cube.
Additional details are available at FindlayHancockChamber.com. Contact Hancock
Leadership Coordinator Sheri Murphy at 419.422.3313, or email leadership@Findlay-
HancockChamber.com for more information. Download RFP guidelines here:
http://www.findlayhancockalliance.com/Assets/
MemberInvolvement/2013Downloads/HL%20RFP%202014.pdf/ .
About Hancock Leadership:
HL 14 will participate in a nine-month seminar program which will begin with a
Saturday retreat in August. During the class year, members will be exposed to many
aspects of the FindlayHancock County community including agriculture, city/county
infrastructure, local history, legal system, public safety, business & economic develop-
ment, health & human services, education and arts & media.
HL is an affiliated program of the Findlay Hancock County Chamber of Commerce
and is an investment in the future of Findlay and Hancock County. The programs
mission is to develop and cultivate all people with a passion to serve our community
through a dynamic learning experience that encourages self-discovery, fosters relation-
ships and inspires stewardship.
Hancock Leadership now accepting 2014 class project RFPs
2B TheBusinessJournal July 2013
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Commercial/Industrial
Real Estate
The commercial real estate industry con-
tinues to show robust and consistent growth,
despite a sluggish economy and the indeci-
sion of governmental sequestration, accord-
ing to the latest CCIM Quarterly Market
Trends report. CCIM Institute (www.ccim.
com), one of the largest commercial real es-
tate networks in the world, released the re-
sults today in partnership with the National
Association of REALTORS. The report
features the findings of CCIMs 13,000 in-
fluential, industry-leading members.
The report shows that in 2012, commer-
cial real estate investment sales increased
for the fourth consecutive year, with an up-
tick of 18 percent year-over-year in sales of
properties less than $2.5 million. In fact, the
year ended with a deal frenzy of $98 bil-
lion in total 4Q12 sales, setting a post-2007
record for the greatest amount of fourth-
quarter investment activity.
The numbers speak clearly, particularly
the figures besting recession-era data, dem-
onstrating dependable progress that inves-
tors can act upon, and fundamentals are
expected to steadily improve, said George
Ratiu, manager of the National Association
of REALTORS qualitative and commer-
cial research. With moderate gains in em-
ployment and consumer spending, absorp-
tion for office, industrial, and retail spaces
will continue to grow, driving availability
rates lower.
Additionally, CCIM members participat-
ing in the national survey cited a 53 percent
increase in transaction volume in 2012,
driven primarily by investors who were
looking to sell assets. Property prices have
stabilized in most markets, with 30 percent
of respondents reporting price increases and
50 percent saying property prices remained
the same in their markets.
Apartments: Attractive Investment
Apartments attracted the largest volume
of investment dollars in 2012, followed by
office, retail and industrial properties. It is
predicted that apartment demand will con-
tinue on a strong upward trajectory in 2013
as household formation increases and home
supply lags in most markets, according to
the report. More good news: Real estate
prices gained traction across all commer-
cial real estate categories, with a 12 percent
year-over-year increase across all sectors.
Vacancy in all commercial real estate
categories is projected to decline as absorp-
tion increases, and rent growth is expected
in the office, industrial and retail sectors
Commercial real estate market
shows signs of stability for investors
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ALLEN COUNTY LEADERSHIP TAKES AN ACTIVE ROLE
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THE STRENGTH OF PLACE
THE STRENGTH OF PEOPLE
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See satability, page 5B
July 2013 TheBusinessJournal 3B
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7 steps to a hot commercial real estate deal
Theres an old joke in commercial real estate: If you think nobody cares youre alive,
just miss a few mortgage payments.
Unfortunately, there was a lot of that going on during the credit crisis that started in
2008, as commercial real estate values went into a freefall. According to the Massachu-
setts Institute of Technology Center for Real Estate, commercial property values fell by
10.6% in the fourth quarter of 2008, alone the biggest price drop since 1984.
But to savvy real estate investors, times of lower prices typically reveal genuine in-
vestment opportunities. For instance, according to a survey by Marcus & Millichap Real
Estate Investment Services, of 1,129 commercial property investors, 51% planned to in-
crease commercial real estate allocations during the 2008 credit crisis.
So, despite the significant drop-off in acquisition plans from the peak in 2005, more
than half of investors still planned to increase their commercial real estate holdings. A
mere 11% planned to reduce their real estate portfolios in 2009.
Finding a Good Commercial Real Estate Deal
Ask any real estate professional about the benefits of investing in commercial prop-
erty and youll likely trigger a monologue on how such properties are a better deal than
residential real estate. Commercial property owners love the additional cash flow, the
beneficial economies of scale, the relatively open playing field, the abundant market for
good, affordable property managers and the bigger payoff from commercial real estate.
But how do you evaluate the best properties. And what separates the great deals from
the duds?
Like most real estate properties, success starts with a good blueprint. Heres one to
help you evaluate a good commercial property deal.
1. Learn What the Insiders Know
To be a player in commercial real estate, learn to think like a professional. For example,
know that commercial property is valued differently than residential property. Income on
commercial real estate is directly related to its usable square footage. Thats not the case
with individual homes. Youll also see a bigger cash flow with commercial property. The
math is simple: youll earn more income on multifamily dwellings, for instance, than
on a single-family home. Know also that commercial property leases are longer than on
single-family residences. That paves the way for greater cash flow. Lastly, if youre in a
tighter credit environment, make sure to come knocking with cash in hand. Commercial
property lenders like to see at least 30% down before theyll give a loan the green light.
2. Map Out a Plan of Action
Setting parameters is a top priority in a commercial real estate deal. How much can
you afford to pay? How much do you expect to make on the deal? Who are the key play-
ers? How many tenants are already on board and paying rent? How much rental space do
you need to fill?
Well show you how to turn $1k to $10k - 100% free!
3. Learn to Recognize a Good Deal
The top real estate pros know a good deal when they see one. Whats their secret? First,
they have an exit strategy the best deals are the ones where you know you can walk
away from. It helps to have a sharp, landowners eye always be looking for damage
that requires repairs, know how to assess risk and make sure to break out the calculator to
ensure that the property meets your financial goals.
4. Get Familiar With Key Commercial Real Estate Metrics
The common key metrics to use for when assessing real estate include:
Net Operating Income (NOI)
The NOI of a commercial real estate property is calculated by valuating the propertys
first year gross operating income and then subtracting the operating expenses for the first
year. You want to have positive NOI.
Cap Rate
A real estate propertys cap or capitalization rate, is used to calculate the value of
income producing properties. For example, an apartment complex of five units or more,
commercial office buildings, and smaller strip malls are all good candidates for a cap rate
determination. Cap rates are used to estimate the net present value of future profits or cash
flow; the process is also called capitalization of earnings.
Cash on Cash
Commercial real estate investors who rely on financing to purchase their properties
often adhere to the cash-on-cash formula to compare first-year performance of competing
properties. Cash-on-cash takes the fact that the investor in question doesnt require 100%
cash to buy the property into account, but also accounts for the fact that the investor will
not keep all of the NOI because he or she must use some of it to make mortgage pay-
ments. To uncover cash on cash, real estate investors must determine the amount required
to invest to purchase the property, or their initial investment.
5. Look for Motivated Sellers
Like any business, customers drive real estate. Your job is to find them - specifically
those who are ready and eager to sell below market value. The fact is that nothing hap-
pens - or even matters - in real estate until you find a deal, which is usually accompanied
by a motivated seller. This is someone with a pressing reason to sell below market value.
If your seller isnt motivated, he or she wont be as willing to negotiate.
6. Discover the Fine Art of Neighborhood Farming
A great way to evaluate a commercial property is to study the neighborhood its lo-
cated in by going to open houses, talking to other neighborhood owners, and looking for
vacancies.
7. Use a Three-Pronged Approach to Evaluate Properties
Be adaptable when searching for great deals. Use the internet, read the classified ads
and hire bird dogs to find you the best properties. Real estate bird dogs can help you find
valuable investment leads in exchange for a referral fee.
The Bottom Line
By and large, finding and evaluating commercial properties is not just about farming
neighborhoods, getting a great price, or sending out smoke signals to bring sellers to you.
At the heart of taking action is basic human communication. Its about building relation-
ships and rapport with property owners so they feel comfortable talking about the good
deals - and doing business with you.
4B TheBusinessJournal July 2013
The National Association of Credit Manage-
ments CMI for May 2013 reports large gains
in the amount of credit extended and debtor
ability to pay within terms.
The Credit Managers Index (CMI) from the National
Association of Credit Management (NACM) for May leapt
over two percentage points, from 53.3 to 55.6, to reach a
level not recorded since August 2012. The improvement
becomes more convincing upon review of the data, and is
supported by better consumer confidence numbers and the
general enthusiasm greeting the latest housing data.
The index of favorable factors made the transition into
the 60s for the first time since November of last year, and
is at the highest point in well over a year and a half at 61.6.
This was a major breakthrough month and signals the po-
tential for solid gains in subsequent months. Each of the
four favorable factors staged recoveries. Sales jumped from
58.3 to 63, which is much higher than it has been in over a
year. New credit applications improved from 56.5 to just
under the 60 mark at 59.2, another level not seen in a year.
Dollar collections jumped as well, from 57.2 to 59.2, a num-
ber last seen in December. Finally, amount of credit extend-
ed jumped much further into the 60s, from 60.8 to 65. Not
since before the recession has this number been so high. If
the willingness to extend credit is surging at this pace, there
will be some lofty expectations for the months to come,
said NACM Economist Chris Kuehl, PhD. There would be
good reason to question data this optimistic except for the
good news percolating in the ranks of the consumer sector,
and it is reasonable to assume that this CMI number reflects
some of that.
The data from the unfavorable factors is also encourag-
ing and further reinforces the notion that a real rebound is
underway. The jump was not quite as spectacular as with
the favorable factors, but if the past is prologue there will
likely be a bigger response in next months data. The un-
favorable factor index rose above last months neutral 50
reading to 51.6. Some of its categories experienced a little
reversal, but were offset by gains in other segments. Two
factors, disputes and filings for bankruptcies, didnt move
at all and remained at 48.5 and 56, respectively. Rejections
of credit applications fell from 51.6 to 50.8 but, anecdot-
ally, it appears there are far more applications to deal with,
which may have affected rejection rates. Accounts placed
for collection crept up from 50.1 to 50.6, and dollar amount
of customer deductions improved by a larger degree, but re-
mains in the 40s, from 46.8 to 49.6. Dollar amount beyond
terms made the most solid gain, jumping out of the 40s from
47 to 54.1, marking the highest level seen in well over two
years. This factor had the most impact, and if there is to be
progress, this would be a good place to see it, said Kuehl.
Creditors are clearly getting caught up in a variety of eco-
nomic sectors.
The data from this months CMI looks especially posi-
tive, and it would be tempting to start trotting out all kinds
of caveats and warnings in order to not be swayed by the
stunning improvements, said Kuehl. But the CMI may
simply be presaging much better days ahead.
The complete CMI report for May 2013 contains more
commentary, complete with tables and graphs. CMI ar-
chives may also be viewed on NACMs website. About
the National Association of Credit Management NACM,
headquartered in Columbia, Maryland, supports more than
15,000 business credit and financial professionals world-
wide with premier industry services, tools and informa-
tion. NACM and its network of affiliated associations are
the leading resource for credit and financial management
information, education, products and services designed to
improve the management of business credit and accounts
receivable. NACMs collective voice has influenced federal
legislative policy results concerning commercial business
and trade credit to our nations policy makers for more than
100 years, and continues to play an active part in legisla-
tive issues pertaining to business credit and corporate bank-
ruptcy. Its annual Credit Congress is the largest gathering of
credit professionals in the world.
Credit Managers Index for May recovers Aprils loss, rebounds to 55.6
FNBs Matthews completes
graduate school of banking
Paul W. Barret, Jr. Graduate School of
Banking in Memphis, Tennessee recently
announced the graduation of Brendon L.
Matthews, Senior Vice President and Sales
Director of First National Bank. Mr. Mat-
thews was an honors graduate at the recent
ceremony.
Fifty-four students completed the three
year curriculum and graduated in the 2013
class. The school was held May 19-24 on
the campus of Christian Brothers Universi-
ty in Memphis,
TN. Joe Miles,
Chairman of
the Board of
Regents of
Paul W. Bar-
ret, Jr. School
of Banking,
spoke at the
graduation
ceremony and
congratulated
the graduates
on behalf of
the Board.
In addition to course work, students at-
tended the annual Paul W. Barret, Jr. Lec-
ture Series event. Dr. Robert Gates, 2006-
2011 Secretary of Defense, addressed
School participants on the topic of leader-
ship.
Paul W. Barret, Jr. Graduate School
of Banking has been providing advanced
banking education for forty-one years, with
a curriculum designed to provide a high
degree of understanding of all commercial
banking functions. During the three-year
program, graduates received 125 hours
of classroom instruction and prepared in-
depth reports in eight areas of study. Ap-
proximately 250 financial industry profes-
sionals from twenty sates participated in
the 2013 session.







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THE
BusinessJournal
OF WEST CENTRAL OHIO
Coming in the August
edition of ...
Education -
College - Training
Health Insurance
Special Report
Putnam County
July 2013 TheBusinessJournal 5B
through 2014. The multifamily sector will continue to see
minor rent growth, along with a small increase in vacancy
and reduced absorption during the same period.
Large Metro Markets Rise to the Top
The report also revealed that the top three markets in
terms of investment sales volume were New York City ($30
billion), Los Angeles ($19 billion) and Chicago ($19 bil-
lion). Secondary markets that experienced impressive vol-
ume growth include Austin, Texas (+94 percent), Orange
County, Calif. (+82 percent), and San Jose, Calif. (+69 per-
cent).
Rents and Rates: Stable or Increasing
Forty percent of CCIMs who responded to the survey re-
ported flat rents in 2012, while 32 percent indicated rents
are higher in their markets. Approximately 53 percent of re-
spondents expect rent growth and price growth to become
more in line this year.
Capitalization rates remained stable year-over-year, ac-
cording to 62 percent of CCIMs. In addition, 49 percent
of respondents reported that cap rate gaps between buyers
and seller decreased last year, and the trend will continue
in 2013.
The complete report findings can be found at http://
www.ccim.com/resources/qmt-first-quarter-2013-quarterly-
market-trends.
About the CCIM Institute
Since 1969, the Chicago-based CCIM Institute has
conferred the Certified Commercial Investment Member
(CCIM) designation to commercial real estate and allied
professionals through an extensive curriculum of 200 class-
room hours and professional experiential requirements. The
core curriculum addresses financial analysis, market analy-
sis, user decision analysis, investment analysis and nego-
tiationthe cornerstones of commercial investment real
estate.
An affiliate of the National Association of REALTORS,
the CCIM Institute also offers powerful technology tools
such as the Site To Do Business, an online site analysis and
demographics resource, and CCIMREDEX, a single-entry
listing and data exchange. Currently, there are nearly 10,000
CCIMs in 1,000 markets in the U.S. and 31 additional coun-
tries, with another 3,000 practitioners pursuing the designa-
tion, making the institute the governing body of one of the
largest commercial real estate networks in the world. Visit
www.ccim.com, www.stdbonline.com, and www.ccimre-
dex.com for more information.
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Stability (Continued from page 2B)
The implication is that nonresidential construc-
tion spending will continue to recover, but only
gradually. ABC Chief Economist Anirban
Basu.
Summary
After a disappointing March, the nations nonresidential
construction industry bounced back moderately in April.
According to the June 3 release by the U.S. Census Bureau,
nonresidential construction spending increased 0.7 percent
in April, with outlays increasing to a seasonally adjusted an-
nualized rate of $552.45 billion. However, nonresidential
construction spending is down 2.1 percent from one year
ago.
Privately financed projects primarily drove spending
gains in April, with private nonresidential construction
spending rising 2.2 percent for the month and 0.6 percent
on a year-over-year basis. Public nonresidential construc-
tion spending dipped 1.1 percent for the month and is down
5.2 percent compared to April 2012.
Eight of the sixteen nonresidential construction sec-
tors posted increases in spending for the month, including
power, up 7.8 percent; sewage and waste disposal, up 7.7
percent; and public safety, up 5.6 percent. Spending in other
growth sectors was up less than 1 percent. Five sectors have
registered increases in spending on a year-over-year basis,
including lodging, up 16.6 percent; transportation, up 11.4
percent; manufacturing, up 2.1 percent; commercial, up 1.9
percent; and office, up 1.6 percent.
In contrast, eight nonresidential construction sectors ex-
perienced spending declines for the month, with the largest
decreases were in religious, down 11.3 percent; conserva-
tion and development, down 5.6 percent; and communica-
tions, down 4.6 percent. Sectors recording the largest losses
from one year ago include conservation and development,
down 11.5 percent; educational, down 10.7 percent; and
amusement and recreation, down 10.5 percent.
Residential construction spending slipped 0.2 percent for
the month, but is up 18.3 percent from the same time last
year. Total construction spendingwhich includes both non-
residential and residential spendingwas up 0.4 percent for
the month and is up 4.3 percent from April 2012.
Analysis
The dominant theme associated with todays report on
the nations nonresidential construction industry continues
to be slow and steady, said Associated Builders and Con-
tractors Chief Economist Anirban Basu. While weather and
other factors can impact monthly performance, the industry
continues to be poised for slow spending growth.
Nonresidential construction tends to lag the perfor-
mance of the overall economy, added Basu. The broader
economy continues to expand at a roughly 2 percent pace
and is closing in on completing four years of economic re-
covery. The implication is that nonresidential construction
spending will also continue to recover, but only gradually.
In the larger context, at least four aspects of the broader
economy that are expanding more briskly than construc-
tion, Basu stated. These include energy production, hous-
ing, consumer spending on automobiles and financial mar-
kets.
The performance of these economic segments helps ex-
plain the increase in spending observed over the past year in
categories such as power, commercial, lodging and office,
said Basu. With consumer spending continuing to rise and
the nation continuing to add jobs each month, the expecta-
tion is that these and many other private segments will con-
tinue to recover over the course of 2013.
Meanwhile, weak state and local government budgets
continue to plague the recovery, Basu remarked. Though
some state budgets have improved materially in recent
years, many states continue to wrestle with long-term
deficits in their pension and healthcare funds, which will
continue to suppress public construction investment in the
near future.
Nonresidential construction spending increases 0.7 percent in April
Private projects provide boost for nonresidential construction spending
The recovery in private nonresidential
construction continued on a slow and steady
track this spring according to new data from
the U.S. Census Bureau, with construction
spending rising in April from the previous
months disappointing number.
Total nonresidential spending rose by
a modest 0.7% in April to a seasonally ad-
justed annual rate of $552.45 billion, but re-
mains down 2.1% from a year ago. Privately
financed projects drove most of the gains,
with private nonresidential spending rising
2.2% for the month and 0.6% over the same
month last year.
Construction put in place totaled $861
billion in April, rising 0.4% over March and
up 4.3% since April 2012. Spending for pub-
lic nonresidential projects, however, dipped
1.1% for the month and fell 5.2% year over
year.
The report underscores patterns that have
prevailed for several months, including
surging home and apartment construction,
volatile private nonresidential activity and
shrinking public investment, said Ken Si-
monson, the associations chief economist.
The uneven nature of the recovery is
leading to materials cost increases in some
categories and localized reports of worker
shortages despite continuing hard times for
many contractors and workers, Simonson
said.
New apartment and home construction
were standouts again and should remain very
strong for the rest of 2013, Simonson said.
Growth has been more inconsistent among
private nonresidential categories, reflecting
reluctance of businesses to commit to invest-
ing in structures amid ongoing economic
uncertainty. Meanwhile, there appears little
prospect that public agencies will start in-
vesting in infrastructure any time soon.
The dominant theme associated with
todays report on the nations nonresidential
construction industry continues to be slow
and steady, said Associated Builders and
Contractors Chief Economist Anirban Basu.
At least four aspects of the broader
economy are expanding more briskly than
construction, including energy production,
housing, consumer spending on automobiles
and financial markets, Basu said. The per-
formance of these segments helps explain
the increase in spending observed over the
past year in construction categories such as
power, commercial, lodging and office.
6B TheBusinessJournal July 2013
Event Planning
A special event is a one-time event focused on a specific
purpose such as a groundbreaking, grand opening or other
significant occasion in the life of a library. Special events
may also be created for other targeted purposes such as a
jobs fair; awards banquet or logo contest.
These one time special events are different from pro-
grams offered on a continuing basis such as a lecture series,
summer reading club or story hour. The following steps are
offered to help guide your event planning:
Develop strategies for success
Make sure the purpose for the special event is important
enough to merit the time and expense needed to properly
stage, publicize and evaluate the event.
Carefully match the type of event that is selected to the
purpose that it serves. Do you want to reach out to new users
or thank your supporters?
Ensure that the library staff fully supports the special
event. Select a working committee with broad representa-
tion.
Target groups that have a special stake in the event such
as library users, funders, politicians. business leaders, senior
citizens or parents.
Start planning at least three months, and in many cases, a
year ahead of time.
Develop ways to evaluate the events success. Measur-
able event objectives may include attendance, the amount of
money raised, the number of library cards issued or increases
in circulation.
Talk to other librarians who have successfully staged
similar events.
Make a checklist
A checklist provides a step-by-step guide to organizing
and executing a special event. See sample checklist on next
page.
Create a budget
The objective is to provide event planners with a finan-
cial blueprint. The budget should be specific, and include
revenue opportunities (sponsorship, ticket sales, donations.
concession sales) as well as expenses printing, permits, in-
surance, speakers, food. supplies, security).
Consider logistics
With many activities going on simultaneously, there are
many details to be checked. Major areas to consider and
plan for include: size of space or building used, utility sup-
port needed, setup (tables and chairs. tents, portable toilets,
parking, signage) coordination, cleanup, emergency plans.
transportation, and public services such as police and fire
departments.
Plan publicity
Promoting a special event takes creative thinking bal-
anced with practicality. The primary objective is to publicize
the event, but secondary objectives should be considered.
Are you trying to inform, educate or entertain?
Increase awareness or attendance of the event?
Build a base support from a specific audience?
Facilitate good community relations?
Brainstorm all the available media in including mar-
quees, school newsletters, church announcements, and cable
and commercial stations. Make a detailed list with names of
whom to contact and when.
Evaluate the event
Take time to evaluate right after the event while the de-
tails are fresh. You may want to consider having a question-
naire for participants to fill out. Some general evaluative
criteria include:
Did the event fulfill its goals and objectives? Why or why
not?
Identify what worked and what needs fine-tuning. Which
vendors should be used again?
What items were missing on the checklist?
Was the event well attended?
Was informal and formal feedback about the event posi-
tive?
Given all that went into staging, was it worth doing?
Finally, it is important to remember to celebrate your suc-
cesses and to thank all those who contributed.
courtesy of librarysupport.net
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underline
Courtyard by Marriott

936 Greely Chapel Road

Lima, OH
T 419.222.9000
Courtyard.com/Daycl

WE MAKE EVEN THE
SMALLEST
MEETINGS OUR
BIGGEST PRIORITY.
Courtyard by Marriott

is the
perfect location for our local
neighbors to conduct group
meetings.
Planning special events: Blueprint for success
Sample Check List
The following checklist provides a step-by-step guide to
organizing and executing an open house. Include project-
ed deadlines for each step.
Select chair and members of your planning committee.
Develop a master plan and set the event date.
Select chairs for subcommittees such as refresiments,
setup and cleanup, tour guides, traffic and safety, vol-
unteers speakers, and invitations.
Organize volunteers for each committee.
Formulate a publicity plan. Decide when/how media
should be contacted. Be sure to alert the media of photo
and interview opportunities.
Prepare copy for program and printed materials.
Hold a tie down meeting the day before the event Dis-
tribute a schedule of events to each committee member.
Discuss assignments. Distribute identification badges.
Answer any questions.
Set up several registration tables and stagger tour
schedules to avoid bottlenecks. Distribute a program as
guests arrive, so they know what to expect.
After the event, mail the printed program with an ap-
propriate letter to significant others who were unable
to attend.
Remember to thank everyone who participated. Send
photos if possible.
Conduct an evaluation
July 2013 TheBusinessJournal 7B
How to narrow event space
venues for your event
Deciding the best event space venue
for your event is critical to your programs
overall success. It takes time, but it doesnt
have to feel overwhelming. Its actually a
fun challenge.
Assuming you have already identified
the type of event space you are planning
and its purpose, many other factors must
now be considered as you select the venue
itself. And unless logistics and time ab-
solutely prevent it, every event planner
should conduct a site inspection before
contracting any venue.
The following roadmap will help guide
you through steps in choosing event space.
Difficulty: Average
Time Required: Roll Up Your Sleeves
Heres How:
1. Identify dates. The first step is to
check the calendar because timing will
influence many decisions. Questions to
consider:
When are your guests most likely avail-
able to attend based on their schedules?
What venues have appropriate and
available space for those times?
When is the best time for your manage-
ment team to hold the event?
2. Scope out different locations. Once
the date(s) is narrowed, its important to
identify the locations where to hold the
event. A hotel is usually the most popu-
lar event space where organizations hold
meetings and events, its not the only op-
tion. This is a time to be creative in your
thinking. Consider the following:
Based on the theme of your meeting,
what 3 best locations come to mind?
Where would your guests prefer to at-
tend this meeting?
Other than a hotel, what unexpected lo-
cations could increase the RSVP rate?
3. Find the right event space. The
venue must have an appropriate space for
the type of event an organization plans to
hold.
Does the event venue meet the spacial
criteria of your program?
Can the venue accommodate your pro-
duction, entertainment, A/V, sound, and
other technical needs?
Does the condition of the facility reflect
the high standards of your organization?
4. Build a menu. Food & beverage
are probably just as important as the busi-
ness meeting topic itself. Although people
dont attend events for the sole purpose of
getting a free meal, they do want to leave
an event satisfied with a sufficient menu.
If this doesnt happen, its a reputation that
will follow the event planner...
Buffet or sit down menu (how much
time for the meal on your agenda?)?
Do any of the attendees have dietary
restrictions?
Will the attendees be pleased with what
is being offered?
5. Consider service and image. A ven-
ues reputation for service is critical. This
is often the difference between holding a
good event and producing a great event.
The way a venue manages its facilities,
staff, and clients will always be remem-
bered.
What is the tenure of the conference
manager, catering manager and executive
chef?
Will the management treat you like a
VIP client or one of multiple programs?
How much flexibility is the venue will-
ing to extend to you?
6. Calculate your budget. With an
open-ended budget, anyone can plan a
great event. But your financial resources
are limited. An event planner can always
plan a great event with any reasonable
budget.
Do the venues fall within your budget
parameters for space, technical and cater-
ing expenses?
Have you negotiated a favorable rate
for services and demonstrated the value
your role?
Have you allowed flexibility in your
budget in case line item expenses exceed
plan?
7. Incorporate what management
prefers. At the end of the day, event plan-
ners must present their recommendations
to their internal client and obtain approv-
als. The only question to ask is:
Will the management team approve my
recommendation(s)? If the answer is no,
go back up to step 2.
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