Healthy Opportunity?

[Sparlin]

Despite the Kansas Stereotype, I have really enjoyed many aspects of Wichita including the fact that city is constantly improving. For example, all of the major intersections are being rebuilt, an expressway expanded, the old town district has been revitalized, and a new shopping/restaurant district is being built along the river. One of the crowning jewels of the city is a new arena that is being completed in what was formally a run down industrial district. There are also new shopping and housing districts being built on both sides of town. In summary, Wichita is growing and improving. Granted, it is not a major city, but it has a lot of good things considering its location and population.

The opportunity: The new arena will be completed in a few months. There are several antiquated yet functional buildings immediately around it. It is located in between the Old Town District (Clubs & Pubs) and the New Water Park District (Shopping/Restaurants/Condos) which are still developing despite the economy.

What are some Ideas for businesses/ opportunities in this district?




Second Development:


We have had rapid expansion over the last 10 years on the North West side of town.
New businesses are popping up along 3 of the main roads and the area is being quickly filled with new housing developments.

Outside of town approximately 3 miles (literally out in farm land), a new small to medium sized hospital is being built. I believe it will have a Level II E.R. It will be the fourth general purpose hospital in the area (there are several surgical centers and specialty clinics). If you look at Google earth, the area (down town and out west) looks pathetically undeveloped. However, there have been several developments built since the satellite photo, including the water park and arena.



My thoughts on development:

I remember back in the mid 1990's framing houses in what was considered desolate areas. Now, fifteen years later, those areas have had multiple millions of dollars invested into their development. As I see the farmland around the hospital, I think it is seeded with opportunity. I looked on Craig list and there are 20 acre sections for sale near the hospital. I failed to mention that within 3 miles of the hospital, there are 2 new high schools (at least one is brand new/ opens this year), a new YMCA ( one of the largest in the country), and a new Fire/ EMS station.


My question is: how can this new development be made profitable?

Here are some of my thoughts on the hospital:

1. Restaurants / Fast food will have a market near a hospital
2. Motel/ Hotels
3. Gas Stations
4. Housing
5. Doctor's Offices / Rehab services
6. Assisted living Facilities
7. More Shopping Districts
8. Build a commericial use building for rental.

Regarding the Arena:

1. Sports Bars/ Karaoke Bars
2. Restaurants
3. Parking Garage / Valet Services
4. Specialty Shops (Concert and sporting goods related to arena)
5. Vending/ Concessions inside the arena



I've traveled all over the country and realize that Wichita pales in comparison to metroplexes such as NYC, LA, San Fran, D.C., Chicago, Denver, Phoenix, etc. Yet I know there is money to be made here. Although a smaller city, at one time Wichita had more millionaires per capita than any other city in the country. So my question is, "How can this be monetized?" Consider this brainstorming exercise. I'll include a few links to show you what is being developed.


The Hospital (It is small, but hospitals typically expand as years progress)
http://www.via-christi.org/body2.cfm?id=2332


Intrust Bank Arena

http://www.intrustbankarena.com/media


Water Walk

http://www.wichitawaterwalk.com/

Water Walk Map

http://www.wichitawaterwalk.com/map.php

 

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[Sparlin]

No ideas? As a starter, what if I were to approach a land owner, and offer him a percentage of my net profits or business ownership provided he allowed me to build a building and or a business on his land(signed contract or lease for 20 years). Is it feasible, or just plain crazy? I think Fanocks would come up with a solution, but what about you other guys? What are some ideas to get this rolling? I have no plans for action as of now, but am genuinely curious how deals are initiated and finalized. Any input?

You've spoken of angel investors and negotiating deals as mentioned above, I'm just curious what some of your thoughts are. I understand I've not settled on a specific type of business, I just want to open this discussion for the purpose of learning. What are some ideas for developing this area? It’s been said that ideas are cheap and actions are valuable, but all actions start from ideas. Any ideas guys?

 

[qwerety]

I know you mentioned at a time there was millionaires around, but what about now? I'm basically asking if that area would be a decent one to open up some type of luxury type place.

Are there any car places around that area?

Maybe you can think of a business that sells a service not a product. Maybe a service that nobody else has in that area, either one you good at yourself, or are confident to find others who may be good at it. Think about what services are not offered around there that need to be and fill the need.

I could think of more specific things, but those ideas may be bad ones depending on the size of this city, the population, and if its a place where you could have lots of big spenders, or mostly Joe and Jane Somebody's.

 

[Sparlin]

We actually have a few billionaires around here. If they want services, they just jump on a jet and go. Good idea, but I'm more interested in ideas of how to develop the land around the new hospital or arena.

 

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[phlgirl]

Ok, I love brainstorming…..so I’ll play.

Having never been to Wichita, it’s difficult to say what would work there. Is the area around the arena walkable? Are there people living downtown, in a close proximity to where this arena is being built? The point is that you need to know that you will get some traffic, even on days when there is not an event at the arena.

I see that the ‘Thunder’ – Wichita’s hockey team has signed a 10 yr contract with the venue. When the hockey team was playing at their old venue, do you know what types of sales they were doing? Do people tailgate in Wichita?

I am from Philadelphia and the first thing that popped into my head, when you mentioned Sports bar, is the sports bar that we have here – fairly close proximity to the stadiums (Eagles, Philles, Flyers, Sixers etc.). http://www.chickiesandpetes.com/locations/south-philadelphia/

Two things that stand out about this sports bar:

• a signature food product – ‘Crabfries’
• FREE transportation to and from the stadiums. You can park your car at their place….have a few drinks and then they will drop you off at the game, for free. The logic is spend your money on beer and crabfries NOT parking mayhem.

They wrap a box truck(s) in advertisements and drive it around the stadiums before, during and after games. They call it the 'Taxi Crab'. The truck plays music (to get attention) and they offer people rides to and from the stadium.

This bar is a household name in our city – particularly for people who come in from the burbs or Jersey. For many it is the only thing they know, so they go there.

Just a thought. Maybe call the place ‘The Hat Trick’ or ‘Hatty’s Trick’ and find an EXPERIENCED manager to run it for you. As we all know around here – it’s not so much the idea….but the Execution. That said, the ideas sure are fun! Good luck!

 

[Sparlin]

Ok, I love brainstorming…..so I’ll play.

Having never been to Wichita, it’s difficult to say what would work there. Is the area around the arena walkable? Are there people living downtown, in a close proximity to where this arena is being built? The point is that you need to know that you will get some traffic, even on days when there is not an event at the arena.

In the past, the only pedestrian friendly area has been Old Town. The are now developing a "L" shaped zone consisting of the 3 districts. The goal is for the zone to be pedestrian friendly. We already have pedicab, horse drawn carriages, and "Trolly" services; once the other districts are online, they will expand.

I see that the ‘Thunder’ – Wichita’s hockey team has signed a 10 yr contract with the venue. When the hockey team was playing at their old venue, do you know what types of sales they were doing? Do people tailgate in Wichita?

The Thunder has a modest, but very loyal following. I'm not sure if they tailgate or not. There is a double Ice rink within a mile of the arena, which draws more of the hockey crowd. Across from that, there is a nice Baseball stadium where the AAA world series is held every year (good crowds). The arena will also host shows and concerts, as well as some other minor leagues sports (arena football, soccer).

I am from Philadelphia and the first thing that popped into my head, when you mentioned Sports bar, is the sports bar that we have here – fairly close proximity to the stadiums (Eagles, Philles, Flyers, Sixers etc.). http://www.chickiesandpetes.com/locations/south-philadelphia/


Two things that stand out about this sports bar:

• a signature food product – ‘Crabfries’
• FREE transportation to and from the stadiums. You can park your car at their place….have a few drinks and then they will drop you off at the game, for free. The logic is spend your money on beer and crabfries NOT parking mayhem.

They wrap a box truck(s) in advertisements and drive it around the stadiums before, during and after games. They call it the 'Taxi Crab'. The truck plays music (to get attention) and they offer people rides to and from the stadium.


This bar is a household name in our city – particularly for people who come in from the burbs or Jersey. For many it is the only thing they know, so they go there.

Just a thought. Maybe call the place ‘The Hat Trick’ or ‘Hatty’s Trick’ and find an EXPERIENCED manager to run it for you. As we all know around here – it’s not so much the idea….but the Execution. That said, the ideas sure are fun! Good luck!

A Sports Bar with a Signature Food would be a good idea. Expecially given it's proximity to Old Town (busy most of the week). We were supposed to have a Saddle Ranch Chop House built, but that was prior to the recession. I'm not sure if that fell through or not. http://www.srrestaurants.com/

Great Suggestion about the free rides. That is something worth considering. Thanks for the ideas and comments.

 

[Sparlin]

I've just had another idea. This would be something that would appeal to all crowds, would tie in nicely to the historic buildings around the arena, and would complement the new coffee house down the block.

I think an Ice Cream Palor fashioned after the 1930's to 1950's era Soda Fountains might work. It could be called something like "Soda Jerks". Decor and uniforms would have to fit the era theme.

Any other ideas?

 

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[phlgirl]

Two brothers opened this place in 2003. It does a great business.... (and we never do see those brothers anymore)

Franklin Fountain: Contact Us

Did you know Ben Franklin invented ice cream?

Franklin Fountain: History

 

[qwerety]

We actually have a few billionaires around here. If they want services, they just jump on a jet and go. Good idea, but I'm more interested in ideas of how to develop the land around the new hospital or arena.

Gotcha.

A good place near those 2 may be places that are related to either a hospital or arena. Like the sports bar mentioned earlier is a good idea near an arena. Even if the place doesn't have too many sports fans, everyone loves bars and if its cool enough, you will get those customers coming in there who may not even be into sports, but may fake it a bit cause its such a cool place.

Related to the hospital, maybe you could open a health store. Have all kinds of nutrition stuff. Imagine the people who just came from the hospital may be wanting to look at stuff to be healthier so they don't have to go back. Or even people who are visiting others may be like I don't want that happening to me, let me see what this place has.

Or maybe a pharmacy (although you would need a pharmacist to be there). Imagine someone in the hospital for something, they get a prescription and they can practically walk next door to the pharmacy to get it. I mean unless someone who lived far away happened to be at that hospital, why would anyone go anywhere else than your pharmacy to get whatever meds.

You could branch off of the pharmacy or the health store if you wanted. If its a small town you would of course have to go to a nearby city.