Let’s talk about entrepreneurship in our valley. My specialty is in commercial and entrepreneurial real estate, and I personally fell into this entrepreneur lifestyle after I moved out here. Like many of us, I came for the winter and stayed for the summer. Working in restaurants at night and skiing and boarding all day. For me, restaurants became what I knew—and at one point I was an operating partner in four different locations, had 90 employees, and was doing consulting for restaurants up and down the valley.
Entrepreneurship is strong here, and it always has been. The generations that came before us did not come out here with any guarantees. They came here decades ago to start businesses, start families, and if they were smart (and maybe a little bit lucky), they invested in property. Those people are now getting to the point where they want to retire. They would like to pass these successful businesses on to the next generation. This is the first of two major shifts we are currently experiencing in commercial/entrepreneurial real estate in our valley.
As with any generation, the youth coming in behind them have new ideas and a fresh perspective. If we can match these two generations, we really have the formula for a great future in our community. There are so many successful businesses here and many more to come. Right now is a great time to be thinking about the not-too-distant future. I know that Covid-19 has caused a lot of chaos in our business community, but that is ok. Just like any time in the past, out of chaos comes opportunity. Those who embrace it will be successful.
The second shift we are experiencing is something very new. As a result of the coronavirus, we are seeing more people coming to the valley and a lot of second homeowners making our area their permanent residence. This is also a result of entrepreneurship and the flexibility the lifestyle offers. Many of those who own second homes in the valley made their money through entrepreneurial ventures. These people are realizing that they can work from home, so they're spending a lot more time here than they usually do. They want to contribute to the community. They are actively looking for opportunities.
Putting the ideas of these individuals together with those of our next generation in the Roaring Fork Valley has the potential to do an amazing amount of good, whether it is desperately-needed affordable housing or legacy-style amenities in our valley that will serve the community for generations to come.
Our valley has always been attractive because of the lifestyle, but it can be challenging to create a sustainable existence here. Covid-19 has created the turmoil that is accelerating the changing nature of local business ownership, but through that chaos comes an opportunity to do great things for our valley. As long as we all continue to work together to use our powers for the benefit of the community, we can and will accomplish amazing things.
If you are looking for a new opportunity, please contact a Slifer Smith & Frampton Commercial-Entrepreneurial Division Broker below or visit SSFCommercial.com.
Mike Mercatoris 970.618.7092
Bob Langley 970.948.0001
Shilo Bartlett 970.319.0064
Mike Eaton 970.274.4239
Before launching the Slifer Smith & Frampton Commercial-Entrepreneurial Division, Mike Mercatoris was in the business of restaurants in the Roaring Fork Valley. Concepts he developed with his partners include GRIND, Zheng Asian Bistro, and The Riviera Supper Club. He has since gone on to do restaurant consulting and has helped negotiate and sign over 20 leases for his own businesses and consulted on over 30 more leases across the valley. Now as a broker he uses his extensive knowledge to help bridge the gap between tenant-entrepreneurs and landlord-entrepreneurs, current building owners and future investors, and current business owners and the next generation.
