AZETTEUSINESS

I'm a partner in a small law firm, andas a small business (SMB) owner Iknow the vital role SMBs play in creat-ing jobs. Small businesses are theunderpinning of our economy. The Conservatives are focused on

The Green Party strives for strongerlocal economies with a small businessfocus, increased national and regionalself-sufficiency, economic diversification,more 'fair' trade, more value-added man-ufacturing of resources, more green-certi-fied production and a rapid shift to more

As a longtime resident of the NorthIsland and a former Chair of the ComoxValley Chamber of Commerce, I have akeen understanding of local businesspriorities and issues. Our Conservativegovernment recognizes the vital rolethat business plays in our economy and

Ronna-Rae is a two-term councillor forthe City of Courtenay.

She chairs the Vancouver IslandRegional Library Board, the Comox ValleyCycling Task Force, and the Housing andHomelessness Standing Committee of

Mike HollandLiberalwww.mikeholland.ca

Sue MoenGreenSueMoenforVancouverIslandNorth.ca

John DuncanConservativewww.johnduncanMP.com

Ronna-Rae LeonardNew Democratwww.ndp.ca

THE FEDERAL ELECTION:

"Why should Comox Valley business people vote for you?"

Con’t top of Pg. 2 Con’t top of Pg. 2 Con’t top of Pg. 2 Con’t top of Pg. 2

Your Business Gazette takes flightWelcome to the

inaugural issue ofthe Comox ValleyBusiness Gazette.

If you do busines inthe Comox Valley, theBusiness Gazette is foryou. Eight times a year,

you’ll get tips, advice,news and views to growyour business and keepyour finger on the pulseof the local businesscommunity. TELL US WHAT YOUTHINK of the Comox

Valley Business Gazette. You could win a $50 gift certificate from Atlas Café just for shar-ing your thoughts! To enter, go towww.businessgazette.ca/feedback.

Airport working with gov’tto recruit new director

The Comox ValleyAirport Commission

(CVAC) is in the processof recruiting a new direc-tor for its nine-memberboard following lastmonth's resignation ofchairman Ken Dawson.The CVAC GovernanceCommittee has request-ed nominations from thefour branches of localgovernment, which,along with the ComoxValley Chamber ofCommerce and theComox Valley EconomicDevelopment Society,are responsible forappointing members tothe Commission. CVAC issued a formalrequest for names ofcandidates in lateMarch. The Town ofComox, the City ofCourtenay, the Village ofCumberland and the

Comox Valley RegionalDistrict now have untilearly May to providenames.

Comox Valley AirportCommission directorsare expected to possessa well-rounded set ofskills and core compe-tencies. These includehigh ethical standards,flexibility in the face ofchange, a well-developedfaculty for critical andstrategic analysis, finan-cial literacy and demon-strated leadership skillsfrom voluntary oremployed positions.The new board memberwill be joining the CVACteam just as the ComoxValley Airport beginsimplementing its newfive-year strategic plan,which will see the airportexpand and improve its

Brad Minton, Comox Valley Airport Commission(CVAC) chair.

Con’t Pg. 2

If you plan on selling yourbusiness to someone out-

side your family, there areseveral strategies availableto minimize the taxes you’llhave to pay from the sale. One of your most criticaldecisions is whether tosell your business sharesor your business assets.

The $750,000 capitalgains exemption avail-able to incorporatedbusinesses can only beclaimed on capital gainsresulting from the sale ofbusiness shares. If your prospective buyeris interested in theshares, you’ll need tomake sure your shares

qualify for the exemption. To qualify, at least 90 percent of your businessassets should be "activeassets" used in your day-to-day business activitiesat the time of the sale. Assets such as invest-ment portfolios, whichare not used in day-to-daybusiness activities, are con-sidered non-active.

Converting non-activeassets into active assets,or moving non-activeassets out of your com-pany, can help get youabove the 90 per centthreshold.

If your business isn’tincorporated but your

prospective buyer is inter-ested in its shares, youmight consider incorpo-rating in advance of thesale to take advantage ofthe capital gains taxexemption.If your prospective buyer is

only interested in purchasingyour business assets, consid-er asking for a higher price tocompensate for the addition-al tax that you will likely incurfrom losing the exemption.There are many otherways to minimize tax onthe sale of your business.Here are just a few:

Make a charitable gift.Consider using some of

the sale proceeds tomake a charitable gifteither to a registeredcharity or to your owncharitable foundation.The donation tax creditscan help reduce the cap-ital gains tax you’ll payon the sale of your busi-ness. Your financial advi-sor can provide moreinformation on setting up

Lara Austin, RBC Dominion Securities

Selling your business? Here’s howto pay less tax

Con’t Pg. 2

Some newly boughtremanufactured or

refilled ink cartridges havefailed to work in someprinters, according tosome reports.

“We traced this to ‘new’firmware updatesreleased recently byLexmark,” says WandaFuller, owner of Ink in aWink. “Firmware upgradesto your printer can causeremanufactured/refilledcartridges to no longerwork.”

Once new printer firmwareis installed, says Fuller,there’s no going back.“Firmware upgrades forceyou to buy expensive, neworiginal cartridges ratherthan remanufactured orrefilled cartridges thatsave you money, save oil,create local jobs and areenvironmentally friendly.”

Is your printer at risk? Call 250.871.6981 formore information .

Big businessbeing bad toprinter owners?

WWW.BUSINESSGAZETTE.CA

THE COMOX VALLEY

APRIL 2011

GBINSIDE THIS ISSUE:3 - Want to build a brandpeople remember?

3 - When should you notincorporate?

5 - Opportunity in change.

7 - Tips to hire a marketer.

7 - Interview with a uniqueIsland entrepreneur.

8 - Flying Canoe sighted inthe Valley.

measures that will only help the biggestcorporations, but will do nothing forSMBs. A Liberal government will support SMBs with policies and programs to help find and retainemployees, gain access to credit andgrow their businesses.

We want to cut red tape and make iteasier to do business. We'll also investin education so businesses haveaccess to the skilled workers they need to grow.

On the North Island, we value ourresource-industry jobs, and we need toencourage secondary manufacturing torealize maximum value from every logand every salmon. I want to work withsmall businesses as a partner, to helpbuild a stronger community together.

renewable energy to create local econom-ic opportunities. As the MP forVancouver Island North, I will work withother parties to: • Eliminate large corporate subsidies toeven the playing field for smaller, localbusinesses• Introduce carbon tax-shifting withoutpenalizing low income/rural Canadians• Use the carbon tax to reduce payrolland income taxes• Establish a Small Cities Green VentureCapital Fund to support viable, localgreen business start-ups• Reduce paperwork for small business • Implement 'economic incubators' incommunities to help businesses andindustry plan according to projectedneeds, opportunities, & availability ofresources and skills. • Encourage all aspects of the local food economy

job creation. Since 2006, we havereduced taxes for small businesses,increased the small business limit to$500,000, reduced red tape by 20 percent and increased access to credit forsmall businesses.

Our recent budget, which the opposi-tion parties refused to support, is thenext phase of Canada's EconomicAction Plan. Our Conservative govern-ment's low-tax plan for jobs and growthincludes measures such as a one-timehiring credit of up to $1,000 andextending work-sharing arrangementsfor small businesses.

Throughout my career I have been,and continue to be, motivated by mycommitment to our region's economicgrowth. I will continue to strongly sup-port businesses and entrepreneurshipon the North Island.

the Comox Valley Regional District. Ronna-Rae also serves on the executiveof the local government association forVancouver Island and CoastalCommunities. She is a researcher, public educator and project manager for community environmental protectionorganizations.

Jack Layton, Ronna-Rae and the entireNDP team are committed to making lifeaffordable for middle class BritishColumbians and have made strong com-mitments to supporting small business bydropping their tax rate while providingincentives for job creation locally.

The NDP are the only ones who votedagainst the HST, and Ronna-Rae is committed to making sure it is eliminated.Ronna-Rae and her husband, Ron Eby, have lived in the Comox Valley formore than 20 years. They have raised two children.

Mike HollandLiberalwww.mikeholland.ca

Sue MoenGreenSueMoenforVancouverIslandNorth.ca

John DuncanConservativewww.johnduncanMP.com

Ronna-Rae LeonardNew Democratwww.ndp.ca

services, add new desti-nations and develop anew marketing strategyand brand.

“This is certainly anexciting time to be a partof CVAC as we embarkon our new five-yearstrategic plan and worktowards our ultimategoal of expanding airservice delivery,” saidBrad Minton, who wasappointed CVAC chair in March.

“We are all lookingtoward the future nowwith anticipation and willbe seeking a new andqualified board memberto assist us in our pursuits.”

Minton's appointmentto board chair came

after Dawson, who'dserved as chairmansince 2008, had toresign after accepting aposition with the BC gov-ernment. CVAC bylawspreclude governmentemployees from sittingon the board. “On behalf of the board

of directors, it has beena privilege serving under Ken's leadership,” said Minton.

“His professionalism,integrity and commit-ment are unmatched,and while we wish himthe best in his new pur-suits, his meaningfulcontributions to theComox Valley Airport andbroader community willbe thoroughly missed.”

Dawson, for his part,had equally glowingwords for his former col-leagues at the airport.“The men and womenwho work at the ComoxValley Airport demon-strate a strong commit-ment to communityevery day,” he wrote inhis resignation letterdated March 11. “Theystrive to exceed allexpectations in makingevery customer experi-ence a positive one.”The Comox Valley AirportCommission is the govern-ing authority for the opera-tion of the Comox ValleyAirport. It is a federallyincorporated non-profitentity and was establishedthrough letters patent in1996. Visit www.comoxairport.com formore information.

Airport Director - con’t from pg. 1

your own charitable family foundation.

Establish an estatefreeze. If the sale is notimminent and you expectthe value of your busi-ness to increase, thenconsider reorganizingthe company (e.g. estatefreeze) so that some orall of the future capitalgain can accrue to otherfamily member share-holders. This can multi-ply the benefit of yourcapital gain exemption ifthe shares qualify.

Pay yourself a retiringallowance. If you hadyears of service prior to1996, then all or a por-tion of your retiringallowance can be trans-ferred to your RegisteredRetirement Savings Plan(RSP) on a tax-deferredbasis without affectingyour unused RSP deduc-tion limit. Keep in mind,however, that if it’s ashare sale and you continue working for thepurchaser, the paymentwill not qualify as a

retiring allowance.

Consult an expert. Thesale of your businessand the strategies youchoose to minimize taxesneed to be carefully eval-uated before beingimplemented. Speakingto a qualified advisor willhelp ensure that you’remaking the right choicesand following the rightprocedures in order toqualify for tax benefits.

I’d be happy to providemore information aboutselling your business andprovide assistance plan-ning your retirement. To schedule an appoint-ment, call250.334.5606 or emailme lara.austin@rbc.com.

Lara Austin is an invest-ment advisor at theCourtenay office of RBCDominion Securities Inc.ember Canadian InvestorProtection Fund). This arti-cle is for information pur-poses only. Please consulta professional advisorbefore taking any actionbased on information inthis article.

Selling a Business - con’t from pg. 1

C: 250-792-2874

4040 Marsden Road,

Courtenay, V9N 9N7

pieter@cp-sms.ca

(Skype: bloemboypw)

Pieter Vorster

THE FEDERAL ELECTION - con’t from pg. 12

Business Gazette:Everyone knows thatApril is spring cleaningtime, but why shouldbusiness owners alsoconsider a spring clean-ing for their computer?Bob Wells: What springcleaning does is ensureyou get as much life outof your computer as pos-sible, and that it runs assmoothly as possiblewith no viruses.BG: What does itinvolve?BW: First, we open upyour computer andremove the dust bunniesthat tend to collect in allthe nooks and cranniesand act as insulation.This can cause your com-puter to overheat, whichis one of the two leadingcauses of computer fail-ure. Sometimes we findkiller dust bunnies, soyou have to watch out forthose ones.BG: Killer dust bunnies?BW: Yeah, you need agrenade to kill those

ones. That's why we rec-ommend spring cleaningat least once a year, andmore often if your com-puter is in an environ-ment with pets, a woodstove, lots of dust orsmokers. Plus, a springcleaning gives us achance to check for pop-

ping capacitors.BG: Popping what now?BW: Popping capacitors.Sounds nice and geeky,doesn't it? A capacitor isjust a battery; there areseveral of them on yourmotherboard. If you'veever left batteries in yourremote control for threeor four years, they startto leak and go rusty andall that fun stuff. That'swhat we call “popping.”Once we see a poppingcapacitor, we know yourcomputer’s days are

numbered. BG: Spring cleaning alsoinvolves a softwareupdate, right? BW: You bet. We makesure your Windows orMac operating system isup-to-date, as well asyour anti-virus, AcrobatReader, Flash and Javasoftware. If you’re run-ning outdated software,you can be sure thatsomeone somewherehas found a security holein it and has exploited itwith a virus.BG: Anything else? BW: If you’ve got a bat-tery backup or databackup we also makesure they’re workingproperly. If your batterybackup isn’t working andthe power goes out, youcould corrupt your harddrive so your computerdoesn’t turn on. And youcould lose any workyou’re in the middle ofwhen it happens.BG: How does someoneschedule a spring cleaning?BW: Just call My TechGuys at 250.890.1065or visitwww.mytechguys.ca.

Bob Wells of My Tech Guys demonstrates how not to perform spring cleaning on your computer.

What's lurking in your computer?Bob Wells, My Tech Guys’“Extreme Geek,”discusseskiller dust bunnies and high-tech spring cleaning.

Killer dust bunnies.

Incorporating in BC iseasier than ever. But

just because you canquickly create a companyonline doesn't mean you should.

We see plenty of busi-ness owners who rushedthrough a do-it-yourselfincorporation before real-izing they hadn't consid-ered the full implicationsof doing so. Correcting abotched incorporationcan actually cost more,and be much more of ahassle, thanhaving a lawyerwalk youthrough theprocess in thefirst place.

Here are the four mostcommon incorporationmistakes we see, andhow you can avoid them:Timing — For many newbusinesses, it's notsmart to incorporateright away. Imagineyou've opened a newrestaurant. For the firstcouple of years you'lllikely incur a lot ofexpenses, and you mightnot show a lot of profit. Ifyou're incorporated, youcan only write off thoselosses against corporateincome - any other per-sonal income you mayhave can't be used to off-set your losses. Theresult could be a highertax bill, which in mostcases defeats the pur-pose of incorporating.Some accountants sug-gest you should bein the six-figureprofit range consid-ering incorporation,but always consultyours for specificadvice.Improper ShareStructure — We seeit all the time: ahusband and wifeincorporate andissue themselvesthe same class ofshares. That's fine,but it really limitstheir ability to splitincome.

Typically, when weset up a companyfor married or evennon-married part-ners, we ensurethere are at leasttwo classes of vot-ing shares. This

"dividend sprinkling"gives partners the flexibility to pay differentdividend rates, whichcan have significant taximplications.Failure to set up corpo-rate records — A lot ofpeople rush out to incor-porate before they've setup their minute book,created share certifi-cates or established aproper set of articles. Ifyou try to open a bankaccount without certified

copies of these documents you likelywon't get far.

Additionally, many peo-ple don't realize untilafter the fact that they'rerequired to file an annualreport with the CorporateRegistry every year oncethey incorporate. If youdon't file, the companyyou were so eager to cre-ate could be struck fromthe registry - and you'llhave to pay to revive it.MisunderstandingLiability Protection —Incorporating certainlycan reduce your person-al liability and protectyour assets. More andmore, however, contractsrequire a personal guar-antee, which effectivelynegates that protection.The other issue is that

people who don't fullyunderstand incorporationtend to shoot themselvesin the foot when it comesto liability. If you nameyour company MyCompany, Ltd. then you

have to use thatfull name oneverything yousign, from sta-tionary to invoic-es. As soon asyou get sloppy

and simply write MyCompany, you're openingyourself up to potentialliability issues.Don't go it alone — Sohow do you avoid the pit-falls of incorporation?Unless you really knowwhat you're doing, don'ttry to do it by yourself.First, always consult youraccountant to determinewhether incorporatingmakes sense for you.Then, when time is right,consult a lawyer who pro-vides corporate and com-mercial services toensure you do everythingright - the first time.Paul Ives is a lawyer withIves Burger Barristers &Solicitors in Courtenay. He can be reached at250.334.2416 or www.ivesburgerlaw.com.

Paul R. Ives B.A., LL.B. Partner, IvesBurger

Avoid the pitfalls of do-it-yourself incorporation

“People who don't fully understand incorporation tend to shoot themselves in the foot.”

Your brand is not yourlogo. It's not the

colours on your website,the products you sell orthe slogan on the side ofyour building. Nor doesyour brand only exist atyour store, on your website or in the pages ofyour catalogue.

The essence of yourbrand lives in the mindsof all of those who comein contact with it. Yourbrand is a belief system. So what does thatmean? Why do somebrands resonate whileothers do not? More

importantly, how can you create a brand thatwill resonate with yourcustomers?

Your brand needs to gowell beyond any market-ing tool or level of serv-ice your company canoffer. To get your cus-tomers to believe in yourbrand, you need to cre-ate a brand they canbelieve in.So how do you do that?

First, you need to devel-op the core componentsof your belief system.What are your company'score values? What arethe special words or lan-guage you will use? Whatare your icons or sym-bols? What are the ritu-als or routines peoplewill follow? What's thestory behind your brand?

If all of these compo-nents are aligned, yourbrand has a greatchance of success. Youneed to invest time and

effort into developingthese components, butthe rewards can beimmeasurable.

The most successfulbrands have a loyal fol-lowing of supporters andbrand evangelistsbecause they connectwith people at the rootlevel. Their customersfeel connected to thebrand and to each other.Think Apple, Coca-Colaor lululemon.

Another company that'screated a memorablebrand experience isStarbucks. Consider howthe Starbucks experi-ence encompasses allcomponents of a strongbelief system. Their corevalues (social and envi-ronmental responsibility),their unique language(Frappuccino, grande,venti), their icons andstore/employee appear-ance, their rituals whenyou enter and order a

How to create a successful branddrink and the story ofhow they grew from asingle shop in Seattle'sPike Place Market.

Brands are more thanjust companies. They canalso be countries, groupsand even individual peo-ple. What does Canadarepresent? What aboutthe New York Yankees?Barack Obama? Each isa unique brand with spe-cific, loyal supporters.

Creating a successfulbrand for your companyis as simple (and aschallenging) as develop-ing your core compo-nents. Give your cus-tomers an opportunity tobelieve in what you'redoing. Develop and com-municate your values,words, icons and rituals.Tell your story.

Once you've seamlesslyaligned your brand com-

ponents, you'll attract fol-lowers who demand yourproducts or services andrecommend you to oth-ers. You'll have a strong,successful brand. Yourbrand is your business.Aaron Heppell is the ownerof Brand & Bridge CreativeServices and the presidentof Graphic Designers ofCanada, Vancouver IslandChapter. Call250.898.7996 or visitwww.brandandbridge.ca.

Aaron Heppell, Brand &Bridge Creative Services

3

Our industries, oursociety and even our

planet are in a state offlux as we struggle tocome to terms with tur-bulent economies, dwin-dling resources and achanging climate. In TheSixth Wave, a book onbusiness and innovation,authors Moody andNogrady predict that weare on the cusp of thenext great wave ofchange for the future.They also demonstratethat periods of change inhistory have always beenthe time when the great-est opportunities existfor the introduction ofnew technologies, newproducts and services,and for inspired ideasabout whole new ways ofdoing things.

If you see change as athreat, you're taking a

"glass-half empty" per-spective. You probablysay, "I can't keep up withthis constant technologi-cal innovation. There'ssomething new to learnevery week. It's like Inever left high school!"You'll be annoyed when-ever there's a new trendin management. You'llwince whenever you hear

of competitors introduc-ing new businessprocesses. You'll seechange as the slings andarrows of business mis-fortune.

On the other hand, ifyou see change as anopportunity, you're takinga "glass-half full" per-spective. You are likely to

think, "Every time there'sa change, new nichesopen up for me." Youknow that some of yourcompetitors will be slowto adapt and you'll be thefirst to step in andrelieve them of a fewcustomers. You'll say toyourself, "I'm a smallbusiness. I have a small,flexible and effective

team. Adaptability is mymiddle name. We're thecan-do people!"

While your larger com-petitors need to lookahead a year or more,you'll change focus muchmore quickly. If you're amanufacturer, you havesmaller production runs,so you can customize to

suit the needs of particu-lar customers.Customers can reach youmuch more easily thanthey can a CEO of a largecorporation - you'reresponsive.

You look ahead withanticipation, not withanxiety. You think, "Well,some of my products arenearing the end of their

life cycle. What's the nextbig thing? How can I sur-prise and delight my loyalcustomers with some-thing that they don't evenrealize they want?"

If you take this attitude,business will becomemore of a game than achore. You'll feel freer tothink creatively. Andyou'll try to communicatethis attitude to yourteam. You'll do so with afrank and open manage-ment style, because hon-esty is the best way tohelp people managechange. Fear of theunknown is one of thegreatest impediments tochange in the workplace.

You can also get peopleto feel positive aboutchange by empoweringyour workforce. Rewardpeople who have goodand innovative ideas andlet them have a say inimplementing them.Offer both praise and

monetary rewards forinnovation.

So, in this time of trans-formation, stay alert andkeep well informed. Lookout for the winds ofchange. Seek advice. ABusiness Diagnostic andPerformance Review withPresley & Partners mightbe a good way to helpyou scan the externalenvironment for changesin the industry that couldsooner or later have animpact on your business,as well as analyze theinternal operationalstrengths and weakness-es of your business aspart of the process. Yes,it may mean majorchange for your busi-ness, but the way to lookat that change is to seeit as the opportunity forgrowth and improvement.Courtesy RAN ONE. Ann Scott is a CharteredAccountant and Partnerwith Presley & Partners.

Ann Scott, B.A., C.A.,Partner, Presley &

Partners

How do you see change - as a threat or an opportunity?

“Fear of the unknown is one of the greatest impediments to change.”

Royal Bank declared NorthAmerica’s safest bank

The economy's taken uson a bit of a roller coast-

er ride over the last fewyears, so it’s no surprisethat many people are concerned about the security of their savingsand investments. That’s why we’re incredi-

bly proud of the fact theRoyal Bank of Canada wasdeclared North America’ssafest bank in 2010 byGlobal Finance magazine.In fact, we ranked 10thworldwide!In light of this achieve-

ment, and since we lookforward to sharing our tipsand advice with you inthese pages over the nextseveral months, we’d liketo re-introduce you to theRoyal Bank and dazzle you with some of the lesser-known details of our organization.The Royal Bank was

founded in 1864 as the

Merchants’ Bank of Halifax(it became the Royal Bankof Canada in 1901). Eventhen, the bank’s vision wasprogressive and far-reach-ing - by the 1890s theRoyal Bank had expandedto Montreal, BritishColumbia and, soon there-after, the Prairies. Today, although RBC

operates in 52 countries,we’ve never lost touch withour grassroots beginningsand we’re always quick tosupport the communitieswe serve. RBC contributedmore than $56.6 million tovarious charities In 2010,and our community andnational sponsorshipstotaled $73.5 million. Significantly, RBC donat-

ed $100 million to theCanadian Red Cross fordisaster relief just one dayafter the Japanese earth-quake and tsunami.RBC offers a complete

Lara Austin & John Hudey

line of services to ourclients, whether private orcorporate. In addition tothe day-to-day banking youexpect, we also providemortgages, insurance and wealth managementservices. RBC Dominion Securities

is the Royal Bank’s full-service investment arm,with 140 branches and

more than 1,430 invest-ment advisors and portfoliomanagers. Collectively, wemanage $178 billion inassets for more than400,000 clients, and we’vemade it a priority to shareour expertise in all areas oflaw, tax and financial/retirement planning. Whether investing in newglobal initiatives or in proj-

ects in your own back yard,RBC is determined toremain a leading providerof select financial services,and to operate with theintegrity Canadians expectand demand. We look forward to shar-

ing our insights with you inthe Business Gazette.Whether to strengthen yourbusiness or enhance the

quality of life for you andyour family, we look forward to serving you!

Lara Austin is an independ-ent investment advisor atthe Courtenay office of RBCDominion Securities, Ltd.(member CIPF). John Hudeyis a mortgage specialistwith the Royal Bank withmore than 16 years offinancial experience.

4

Hot Chocolates' owner Jorden Marshall displays some of the shop's popular Easter treats.

Win a $50 gift certificate from Atlas Café!

Just tell us what you think of our first issue of the Comox ValleyBusiness Gazette!

Share your thoughts at www.businessgazette.ca/feedback.

A sweet recipe for success

Providing consistent, quality services to meet the needs of a

fast growing, dynamic community. Proud to provide prompt and cost-effective legal advice.

505 5th Street, Courtenay, BC, Canada V9N 1K2Tel: 250-334-2416 • URL: www.ivesuurgerlaw.com

Hans H. Urdahl, Paul R. Ives, Mark Burger

Having just earned itssecond Business of the

Year title on the eve of its25th anniversary, HotChocolates is obviouslydoing a lot of things right.So what can other localbusinesses learn from thesweet success of theComox Valley’s favouritechocolate shop? 1. Don’t scrimp on qualityThroughout its history, Hot

Chocolates has neverabandoned its commit-ment to traditional artisanchocolate-making meth-ods. Nor have its ownersever wavered from theirstrict standards for qualityingredients.“The process they go

through to determinewhether an ingredient isworthy is quite amazing,”says Judy Atkinson, whooversees recruitment andmarketing for HotChocolates. “When theycome out with a newflavour, it’s been analyzed17 ways from Sunday. It’sthe attention to detail thatmakes the end product soamazing and keeps people coming back.”2. Embrace new technologiesLast November, Hot

Chocolates leapt into the21st century with a socialmedia strategy and abrand new web site thatenables online orders fromanywhere in the world.Already they’ve receivedorders from across NorthAmerica and as far awayas Dubai.“It’s a whole new ball

game,” says Atkinson, “butevery week we’re getting afew more people visitingthe site and ordering.Young people who havebeen coming in here for 25years are now scattered allover the world, and those are the people who arenow accessing us on theweb site.”3. Remember customerhospitality“Service is getting the

product to the customer,but hospitality is how thecustomer feels at the endof that process,” saysAtkinson. “Make the customer’s experience sopositive that they want tocome back.”4. Never get complacentLast month, master

Italian gelato-makerMassimo Vassini spent a day with the HotChocolates team dis-

cussing the finer points ofgelato and inspiring severalnew flavours that HotChocolates expects to intro-duce this summer. Also inMarch, a noted chocolatierfrom Buffalo was invited towork with Hot Chocolates’production crew on refiningand perfecting the store’salready legendary truffles.The moral? Hot

Chocolates may be a mod-ern local legend, but thatdoesn’t stop its manage-ment from finding newways to improve their prod-ucts and offer advancedtraining to their employees.5. Create magicOkay, this one might not

be so simple. But by creat-ing a space where adultscan get as excited as giddychildren and children feellike - well, like kids in acandy store, HotChocolates has indeed created magic.“Jorden and Sherry have

done an amazing job,”says Atkinson. “Magicalthings happen here. It really is the sweet spot onFifth Street.” Hot Chocolates is locatedat 368 Fifth Street indowntown Courtenay, or online at www.hotchoco-lates.ca.

5

Welcome to my firstcolumn in the new

Comox Valley BusinessGazette! With each ofthese columns, mygoal is to keep you

up-to-date onwhat’s happen-ing with thelocal real estatemarket, and tohelp you discov-er potentialopportunitiesfor commercialinvestment.

We’re current-ly experiencingan active mar-ket in theValley, withactivity levels very similarto what we saw in 2010.Activity had been strongduring the first half of2010, but unfortunatelythe second half was notas stellar and we had lowactivity until December.

So far this year, the com-mercial market has beenactive in the leasing area,with a number of busi-

nesses taking on new premisesand a few smaller buildingschanging hands. Currently, thereare several exciting commercialproperties on the market thathold great potential as turnkeybusinesses and/or capital invest-ments.

The first of these properties isSurgenor Brewery in Comox. Thisis a turnkey operation located ina new building, and the currentowner is open to either selling

the whole package (land, assetsand business) or just the build-ings and leasing back.

If it’s a turnkey family businessyou’re looking for, Taco Del Marin Courtenay deserves a look.This ideal operation is priced wellbelow what it would take to opena new restaurant, and it offersthe unique opportunity of notonly having the restaurant com-ponent, but a coffee bar as well.

The Comox Marina Hotel, slated to open in 2013, will contain residential suites, commercialspace and a restaurant/pub.

Real Estate Matters

Dennis A. Schaffrick, B.A. Hons., LL.B

• Real Estate/Mortgages• Wills, Estates &

Representation Agreements• Corporate/Business Law

1984 Comox Avenue, Comox, BC, V9M 3M7

(corner of Comox Avenue & Anderton Road)

D.A. SCHAFFRICK LAW CORPORATIONBarrister, Solicitor & Notary Public

Tel: 250-339-3363Fax: 250- 339-3315E-mail: schaffrick@shaw.ca

Gary DryLicensed Home

InspectorLicense #: 47355

250-897-4330gary@clarityhomeinspections.cawww.clarityhomeinspections.ca

clarity: free from obscurity and easy to understand

“You probably don't want your legalwork to be exciting. You probably don't

want the experience of completing aWill, Power of Attorney, a Real Estate

transaction or a Refinance to be a bloodpressure raising experience.

If not, call me to take all the excite-ment out of your legal documents.”

T. Dale Roberts,Notary Public

#7 - 625 Cliffe Avenue, Courtenay, Ph: 250.871.7737

info@robertsnotary.comwww.robertsnotary.com

By Dave Procter, Owner RE/MAX Dave Procter Realty.

Sticking with restaurants inCourtenay, the Old HouseRestaurant represents anotheropportunity for capital invest-ment. Both the land and thebuilding are for sale, with a long-term tenant in place and a veryattractive cap rate for its new owner.

The final item I want totouch on is the ComoxMarina Resort Hotel, animpressive developmentthat’s slated to open in2013 alongside theComox Bay Marina. Itwill be a strata-titled,West Coast style condo-hotel with residentialsuites, commercialspace, hot tubs and a new restaurant and pub.

All suites will be cus-tom designed to takefull advantage of natu-ral light and the stun-ning ocean and moun-tain views, and each ofthe one-bedroom, two-bedroom and pent-house suites will becarefully equipped toreflect a relaxed, WestCoast feel.

Most uniquely, the purchaser of any suiteis also entitled to anindividual boat slip atthe marina!

This is an opportunitythat I’m especially excited about - for moredetails on this or any ofthe properties I’ve mentioned, give me aring or email me atdprocter@comoxval-leyrealty.com.

If there’s somethingyou’d like to see inupcoming columns,please drop me a lineand I’ll do my best to accommodate your request.

Dave Procter has morethan 33 years experi-ence in commercial andresidential real estateand is owner of RE/MAXDave Procter Realty. Youcan reach him at250.339.2021.

Surgenor Brewery in Comox.

RE/MAX Dave Procter

Realty

282 Anderton RoadComox, BC V9M 1Y2

Phone: (250)339-2021Fax: (250)339-5529

Email:dprocter@

comoxvalleyrealty.com

6

It’s been said the bestinventions don’t create

something new, butinstead combine existingproven ideas. Take thelight bulb: the filamenthad been around forsome time; it just burnedout fast. Edison thoughtof how charcoal slowlyburns while starved foroxygen and voila - heremoved the air from aglass tube and the lightbulb was born.

Dan Mechalchuk, ofVancouver Island-basedUnited Parking Inc., isturning the parking indus-try on its head with thesame kind of thinking.

Business Gazette: Whatdoes United Parking do?Dan Mechalchuk: Wehelp property ownersand managers increaseprofits and revenuereturn from their parkingfacilities. We manufac-ture ultra-modern metersand payment solutions,access control equip-ment and courtesykiosks right here onVancouver Island. Wealso offer a securitypatrol service componentto augment and comple-ment our other services.We bring all of thistogether for our clients; Ilike to think of it as a‘unified’ product offering. BG: How does the security fit?DM: Until now, securitypatrols were an expenseto property managers.We contract withlicensed, bonded securitycompanies and trainthem in our parking man-agement technologiesand techniques. Asthere’s a lot of responsi-bility put on their shoul-ders, we hand-pick entre-

preneurial owner-opera-tors who are highly capa-ble of multi-tasking andhave passed criminalrecord checks. Wealready have clients inthe Victoria area that areseeing substantialmonthly savings combin-ing parking managementand security.BG: Where do these savings come from?DM: Several places. Forstarters, there’s a sub-stantial savings derivedfrom a more efficient useof patrol equipment,which we pass on to ourclient. Because we uselicensed security, oursystem also generateshigher compliance rates.For example, the currentindustry standard returnis around 25 to 30 percent on overdue parkingtickets. In most cases,we can achieve a 70 to80 per cent return. Ontop of that, our enforce-ment generally doesn’tinvolve tow trucks, sopaid fines stay on theproperty and provideanother revenue streamfor lot owners. BG: What other technolo-gies do you use?DM: We designed ourown software to supportour integrated opera-tions, and we’ve alsodeveloped our own LPR(license plate recogni-tion) system for high-speed scanning. Insteadof driving around chalk-ing wheels, we’re able toquickly and inexpensivelymanage parking permitprograms, identify over-due parking tickets andmore. This kind of auto-mated mobile manage-ment is becoming verypopular, and we’re pio-neers in the field. Our

meters are state-of-the-art and fully PCI (pay-ment card industry) com-pliant. The technology weuse is proprietary to ourcompany since wedesigned the system.BG: How does it work?DM: We’ve embraced‘cloud’ technology. Thisallows the propertyowner or manager to goonline and see exactlywhat’s happening at themeter in real time. Thistransparency is impor-tant, both for our clientsand for us. We can alsoattach a license plate toa specific property, oreven a specific part of aproperty if, for example,there are designatedspaces for residents, visitors and patrons. Thesystem is limitless. Ourpatrol car downloads thedata we’ve entered intothe cloud and the com-puter tells our patrol per-son who’s supposed to

be there and who isn’t.It’s a very efficient andsophisticated way ofmanaging properties.BG: What propertieswork best?DM: Any piece of proper-ty that has vehiclesparked on it. We dealwith properties thatrequire payment termi-nals, revenue control,enforcement patrolsand/or access controlsystems, gates, etc. A lotof property managershave struggled for yearsto solve their parkingproblems. They’ve beento the bylaw office;they’ve been to thepolice. Finally they justthrow their hands in theair. Then they find us andtheir parking headachesbasically disappearovernight. BG: How can someoneknow that your servicesare right for them?DM: We do a free and

confidential written prop-erty assessment thataddresses problems andrevenue potential. Thegoal is to maximize rev-enues, returns and idealsolutions for the client forthat property.BG: What’s the history ofyour company?DM: I’ve lived onVancouver Island since1992. I retired as a com-mercial fishing captain in‘94, and five years later Iapplied for my first park-ing product patents.Since then, year afteryear, we’ve assembledmore products, more

systems. We haveassembled a strong business group of strate-gic partners to ensureexpansion seamless andsuccessful. UPI isexpanding to major citiesin Canada and USA. Wehave an office in Victoriaand service propertieson the Island fromVictoria to CampbellRiver.

You can contact DanMechalchuk toll-free at 1.855.703.5409 or emailvia their website www.unitedparkingservices.com.

Island inventor and entrepreneur Dan Mechalchuk is revolutionizing the parking industry.

Island inventor helps companies increase parking lot revenues

Predictably Irrational - TheHidden Forces That Shape OurDecisions — by Dan Ariely

Recommendedby: TheBusinessGazette

Though not abusiness

book per se, PredictablyIrrational provides an insightful -and surprising - look into how

and why your customers makethe decisions they do. A pioneer in the field of behav-

ioural economics, DukeUniversity's Dan Ariely uses fasci-nating social experiments to ripapart the standard economicmodel that assumes consumersconsider the pros and cons oftheir options and make rationaldecisions. The first four chapters of this

book alone are worth infinitelymore than the cover price.

Reading the entire book will giveyou all sorts of ideas on how youcan increase your sales by takingadvantage of your customers'predictably irrational decisions.For this and other business

titles, visit the Laughing OysterBook Shop at 286 Fifth Street orwww.laughingoysterbooks.com.

Got a book that you think everybusiness owner should read?Send your recommendation toeditor@businessgazette.ca.

“Big City Selection...Small Town Charm”

YOU'VE GOTTA READ . . .

286 Fifth Street, Courtenay, Phone: 250-334-2511www.laughingoysterbooks.com

• Independent & Locally Owned• Over 10,500 titles in stock• Special Orders most welcome

7

Tell us what youthink of the Comox ValleyBusiness Gazette

Visit www.businessgazette.ca/feedback.You could win a $50 gift certificate from Atlas Caféjust for sharing your thoughts!

We can’t all be greatat everything. Yet as

business owners andmanagers, each of usmust somehow executeevery aspect of running asuccessful business.

Take marketing; it’s vital-ly important to your busi-ness, yet it’s one area inwhich many business peo-ple feel inadequate oreven overwhelmed. Butbefore you rush out to hirethe first marketing profes-sional that hands you abusiness card, ask thesesix questions to avoid wasting a lot of money by hiring the wrong one:1. Are you getting a dedi-cated marketing profes-sional? Ad agenciesemploy many differentspecialists, includingdesigners, web develop-ers, account managers,copywriters and salespeo-ple. But unless the agencyyou hire also has some-one who will be dedicatedto your "big picture" mar-keting - formulating yourstrategy, researching yourmarket, developing yourbrand, etc. - your promo-tional efforts may beinconsistent, ineffectiveand largely irrelevant. 2. What is their back-ground? Do they have aformal marketing educa-tion? Do they have experi-

ence in your industry?Have they worked withcompanies of your sizeand/or budget? Sure,even the best marketingprofessionals had to startsomewhere - but do you really want to foot the bill for your consultant’s "learningexperiences"? 3. Do they track theirresults? I’m shocked byhow many so-called marketing professionalsdon’t track the effective-ness of their campaigns.Before writing a cheque orsigning a contract, makesure the professional orfirm you hire is able toclearly show you thereturn on your investmentand continually improve your campaigns byexpanding on what works and eliminatingwhat doesn’t. 4. What tools do theyendorse? Some agenciespush one or two market-ing "tools" - like socialmedia or direct mail - andwill structure your cam-paign around themwhether they’re right foryour business or not.(Hint: if they’re too busy"selling" you on their bigideas to actually learnabout your business oryour concerns, that’s a bigred flag!) Ideally, you wantsomeone with experiencein a variety of promotionalavenues, and who’s

open-minded to innova-tive solutions withoutneglecting traditional,proven methods.5. Do they work with yourcompetitors? Do theyhave clients who are yourdirect competitors? If theywere approached by oneof your competitors, whatwould they do? Perhapsmore importantly, how willthey handle your sensitive information?6. How do they bill?Ensure you’re clear aboutthe continual "cost" ofyour relation-ship. Do theycharge for con-sults andphone calls?What aboutrevisions? Justas important,who will owncopyright toyour materialsand content?(In many cases,the answer mayshock you!)

Hiring anagency or marketing pro-fessional tohelp you pro-mote your busi-ness is one ofthe smartestthings you can do, andyour return oninvestment canbe enormous.

But as with

everything in business,you need to exercise yourdue diligence. If you don’tlike the answers you getto these six questions, keep looking.

You’ll eventually find yourperfect match, and you’ll be glad you waited.

Lisa Schroeder is theowner of MarkitectConsulting Inc. She can be reached at250.667.2552 orwww.markitect.ca.

Though little more thana month old, the new

Flying Canoe West CoastPub is already poised tobecome one of theValley's premiere culinary and entertain-ment hot spots for thebusiness set.

The Flying Canoe's mod-ern interior - which fea-tures timber and stoneaccents, a dance floormade entirely fromreclaimed Stanley Parkwood and the namesakecanoe suspended fromthe ceiling - provides an

ideal venue for a casualbusiness meeting. Theupscale pub's appeal tobusiness people is furtherbolstered by free wirelessInternet and special promotions geared specifically toward busyprofessionals.

"You can come in, getyour lunch and be backto work on time,” saysgeneral managerMichelle Le Sage.“Monday to Friday we'redoing any pizza, yourchoice, served with saladfor $10. And we know

you're busy, so it'sserved to you in 33 min-utes or it's free. It's our'33 or it's free' special!”Although chefChristopher Thrift's entiremenu is impressive, fea-turing no shortage ofenticing local fare, it'sthe Flying Pub's authen-tic forno-fired pizzas thattruly set it apart.

“We have an authenticforno oven right in themiddle of the pub,” notesLe Sage. “The cook's outthere, tossing dough andmaking fresh pizzas. It'sone of the things thatmake the Flying Canoequite different.

While attracting busi-ness people during lunch

hours, the Flying Canoeis also luring the eveningcrowd with live music,special events and evenSunday night karaoke, afavourite at the oldGulliver's Pub that wasre-instated by populardemand on the FlyingCanoe's Facebook page. Of course, as with anypub, entertainment andambience is only part ofthe equation.

“We have some beauti-ful, beautiful wines bythe glass or bottle,”notes Le Sage. “Lastnight . . . I looked aroundthe room and probablyhalf the tables weredrinking wine by the bot-tle, which is unbelievablebecause you don't seethat very often in pubs.It's just such a differentworld in the FlyingCanoe, yet it still hasthat casual feel.”

The Flying Canoe offersa mix of seating: semi-private booths, high-tops,lounge seating and atable for 10 ideal forcasual meetings.

Located at 1590 CliffeAvenue at the Best WesternPlus, The Westerly Hoteland Convention Centre.For reservations, or to pre-order your lunch, call250.331.4006.

Flying Canoe lures business crowd

Get on Wanda’s list for savingsupdates. Go to http://

members.shaw.ca/inkinawink andemail. Or call 250-871-6981

Don’t throwaway money onprinter toner!

High quality printer supplies at unbeatable prices!

If you don’t get your toner fromWanda’s ‘Ink in a Wink’, you’re

probably paying too much.

6 must-ask questionsto avoid getting burned on a marketing proLisa Schroeder,Markitect Consulting Inc

C.V. BUSINESS EVENTSBNI Olympic GoldEvery Thursday; 7:00 am - 8:30 am; Westerly Hotel.Keynote speaker, networking and referrals. FMI, callRobert Mulrooney at 250.338.5222.

Comox Valley Business Network Every Wednesday; 7:30 am - 8:30 am; WhiteSpot.Growth through networking and referrals. FMIvisit www.cvbn.ca.

President's ForumEvery 2nd Thursday; 7:00 am - 8:30 am. Hosted byRon Berry Business Advisors. FMI, and to register,call 1.250.751.1025.

CV Home-Based Business Association May meetingMay 5; 6:00 pm; Westerly Hotel. FMI, call250.335.2342 or visit www.cvhbba.com.

CV Women's Business Network May meetingMay 12; 5:30; Westerly Hotel. Members: $25 Non-members: $35. Reserve by May 9.

The Art of Customer Service, withJeff MowattMay 18. FMI, and to register, visit www.comoxvalley-chamber.com - Events & Registration.

CV Home-Based Business Association May meetingJune 2; 6:00 pm; Westerly Hotel. FMI, call250.335.2342 or visit www.cvhbba.com.

Promote your events in the Business Gazette for aslittle as $10 an issue. Call 250.702.1103 or emailsales@businessgazette.ca.

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