New York Bagel Café & Deli continues its expansion throughout the East Coast
Thursday, January 20th, 2011 at 9:05 pm
“It’s a formula I developed that works,” says Jack Intrator, vice president and master broker of Restaurant Leasing. “I create a strong alliance with a top broker in each market where the franchisees have been expanding and then allow them to perform a market analysis demonstrating traffic patterns, demographic and competition analysis so when sites are presented they are presented in a professional but clear manner to the franchisees who often have little knowledge of the process or market conditions. It’s a process of close communication and it works.”
Jack, accredited as a CPM, RAM and ARM, uses a management style that fosters open communication with team members and clients knowing when to inject himself when necessary. “It’s important to always let your team know that you stand behind them and allow them to carry the ball to the end zone. You could be a great manager but you need to know when to let others shine and receive the credit they deserve,” notes Jack.
For New York Bagel Café, Jack has developed and launched a National Corporate expansion strategy, which he is presenting throughout the market via his professional affiliations and connections/contacts throughout the United States. The key is to find the opportunities and capitalize on those opportunities within each specific market of operation. He attributes much of his success and expansion to using his large network of partner brokers.
Here is an opportunity to give credit where credit is due:
Debbie Davis of Metropolitan Waterfront Brokers, has just completed the latest addition to the New York Bagel Café family, with the newest location at the Waldwick Shopping Plaza at 26 Franklin Turnpike, Wyckoff Avenue, Waldwick New Jersey.
New York Bagel Cafe and Deli is a strong addition to a 25,000 sq. ft. shopping center located in the commercial business district of Waldwick with co-tenants consisting of Massage Envy, Riengold Bakery, and Spierier Liquors and within a short distance to Stop & Shop Supermarket and The US Post Office just steps away.
Debbie represented the franchisee, David Sypen and the interests of New York Bagel Café and Deli throughout the transaction and she did a terrific job!
When experience counts, as a broker with more than 20 years experience in all aspects of commercial real estate that is certainly where Debbie shines. She is a great attribute to the team and we know we can count on her to make the right decisions in the fast-paced environment of real-time negotiation. She knows what to ask for always keeping the best interest of her client a priority.
The stars shine on the New York Bagel Café’s brokerage team, a strategic affiliation that is not bound by specific networks as some other companies are. We have affiliations with brokers who are members of Chain Links, The Retail Brokers Network, CCIM, ICSC, IREM and national and regional Retail brokerage companies throughout the US. By using all his connections within the market, Jack works with the best and the brightest, not just those of one select network or another. “I choose a partner broker who knows their market and not just some company that is assigned a specific geographical territory because they have purchased a membership,” comments Jack.
There is a great synergy within the team members as the various skills complement one another. Some members like Debbie come from a corporate background working the markets from a big-box perspective and understanding the fiscal requirements in dealing with RIETS or larger corporate entities. While other team members know the streets, know the market and capitalize on the continued changing market conditions.
“Sometimes it comes down to instinct and knowing when we have reached the threshold based on the overall deal,” says Jack. “That is where the team concept comes in as I review each deal and correspondence I will often make recommendations and or suggestions and then the lead person on the assignment closes the deal.”
Several new stores have opened in December and January includes:
- The Meadow Wood II Shopping Center, Newark, DE
- Brick, New Jersey
- Waldwick Shopping Plaza, Waldwick, New Jersey.
Other locations are in the process of build-out like the first New York Bagel Café location in Marshall, West Virginia, and The Oxford Point Shopping Center in Oxford Valley. PA. Additionally, leases are pending completion in North Carolina, Florida, and five new leases in New Jersey. Several signed at time of printing this article. All are anticipated to be open in the first quarter 2011.
As Jack likes to say, “We need boots on the ground and a local person who knows their specific market and territory. This is where I look to our partner brokers to have their ear to the ground and really know their markets, the landlords and the decision-makers within their firms to cultivate direct relationships with all the players.
Our partner brokers:
- Frank Rudock Jr. Jabe Companies – West VA – RBN
- Abbitt Goodwin The Shopping Center Group – North Carolina – Chain Link’s
- A. Michael Toroyan Toroyan Group LLC – Florida – ICSC
- Michael Weiner RHYS Commercial – Connecticut – ICSC
- William L. Bosley Sperry Van Ness – Hilton Head, South Carolina
- Brittany Danahy Sperry Van Ness | Miller Commercial – Delaware
- Joel A. Dicker Metropolitan Waterfront Brokers – New Jersey – DE- ICSC
- Deborah Davis Metropolitan Waterfront Brokers – New Jersey
- Jack W. Intrator Aptcor Commercial Realtors – Pennsylvania – ICSC, IREM
By managing the entire process, Jack provides the advice and guidance as the “go-to” guy to help both the franchisee and the partner brokers. This direct liaison role between corporate and the partner brokers, keeps the lines of communication open down to what’s in the Letter of Intent to the deal terms.
Communication is the key with all of our partner brokers, the franchisees and corporate, and Jack jumps in where needed on every deal including scouting sites and sending information to partner brokers to analyze and follow up directly with our franchisees.
When we have team members like Debbie and others it makes the process seamless. The results of New York Bagel Café and Deli’s expansion speak for themselves.
In the end it’s Joe Smith’s vision, he is the CEO of NY Bagel and Deli and Jack communicates with Joe several times a day, providing continued updates with regard to ongoing negotiations and site selection. This whole process begins with Dennis Mason the franchise broker, who signs every new franchisee and turns them over to the real estate team. Dennis continues to work and expand into new territories and relies on Jack’s ability to bring in the real estate team. As the company grows so too will its network of partner brokers, with the addition of Florida and the second North Carolina, and Hilton Head locations.
“We are now focusing on the state of Texas,” says Jack. “I have already started reviewing locations and anticipate finalizing opportunities during ICSC’s May, Las Vegas conference.” The ground work is being completed now with procedures and implementation of standardized business terms taking place. LOIs will make sure that going forward every partner broker in every state will have all the same business terms and deal points that must be adhered to.
Investing in a franchise allows one to obtain a solid proven system and proven structure with all the kinks normally worked out through trial and error. Research demonstrates that overall franchises have an approximate success rate of over 90% as compared to small businesses started from scratch at only about a 15% success rate.
You can reach Jack W. Intrator CPM; RAM ARM Retail and Restaurant Leasing Specialist, Vice President Aptcor Commercial at 610 805 3849. Visit his LinkedIn page for more details about his real estate success. firstname.lastname@example.org