Tag Archives: Im Starting A Craft Brewery

36 days out … Use a Notebook and to do list!

Of the many things this process has taught me, there are several that stand out as key learnings overall.  Its hard to say how one should practice for these things, but likely knowing about them, reading books about them, and talking with others about them are a huge help.

The first thing that I have learned is how to get things done.  I feel like I have always been quite productive in my life.  Not quite sure where I got this, but ever since I turned 30, I have increasingly become a highly productive machine.  To that end, one of the best books I read for preparing for this venture was Getting Things Done by David Allen.  You will not be disappointed if you make the time to read this book.  It will help you be more productive with your days, and organize your life to stay on top of all the details.

Another trait that I knew was deep inside me, but never really exposed is an ability to work long hours with little sleep.  Normally, I am a high energy guy, so when it comes to sleep I like to get 7 hours of bed time a night.  Continuing to exercise and stay fit means that sleep is important.  However, for the past couple months, this has been shaved down to about 5.5 – 6 hours per night, with one night a week at 12.  I find I am capable of this, definitely a little more grumpy, unhappy, etc, but that should be expected.  Find your ability to work long and hard, and you will be in a good position to succeed.

One last trait, one that might just possibly be the most important trait is the ability to not get overwhelmed by the gravity of this situation.  Really, this is one of the most stressful and intense situations an average person could go through, and with the help of friends and family, I have managed to stay positive and on track.  If you have a tough time dealing with stress and multi-tasking, you will need to either take course, read or learn to deal with this possibility.

Another huge help is always having a notebook that contains a to do list.  Make sure you cross things out when they are complete, so you can get the satisfaction of accomplishing something. To do lists are key as are notebooks with all your notes from meetings and discussions.  I can’t tell you how many times I have referenced the book to find something I have been looking for.

Until next post, keep on keeping on!

How to Keep all the Balls in the Air – A Schedule!

Having a schedule for the process of opening a brewery is huge.  I am not talking a little to do list of what needs to get done and when.  I mean an excel spreadsheet with the major items of starting a brewery in headings and then a timeline of when decisions need to be made.  It is the only way to keep all the balls in the air and make sure you don’t delay in decisions that need to be made, or forget others.

Unfortunately, we have gotten away from our schedule and it has come back to bite us in the ass a little bit.  Let me explain, and hopefully you can create your own so that you don’t have the same thing happen to you.

When I was first writing our business plan, I had a schedule of all the things that I thought we would be doing.  It was really about 30-40 lines of action items, with a date.  Click the link below for a copy of an older schedule that I was using, and while I updated it partially along the way, it was never really a living document.

Schedule for LCBC

What we really needed was a document that my partner and I updated weekly, that was really much more thorough than the one you can view by link.  I would have put various headings like:

  • Sales and Marketing
  • Equipment
  • Retrofit of Warehouse
  • Accounting
  • Raw Materials
  • Electrical
  • etc, etc

Under each of these headings I would have subcategories with all individual items that need to be done.  For instance, under the equipment heading I would have the following:

  • Brewhouse
  • Kegging
  • Packaging
  • Conditioning/fermenting
  • etc, etc

This way we could track all the details that need to get done.  This is really important.  A lot of details can fall through the cracks, so make sure you have a living schedule document that you can refer to on a regular basis.

There are some other benefits to a schedule. It can track timeline for decisions, like getting quotes from suppliers.  A schedule can also set drop-dead dates for decisions, which I highly recommend, as if you delay some decisions they will have a snowballing effect on other decisions.  A schedule can also help to identify who needs to do what in a partner ship.  Having a responsible person for an action might seem redundant, but it can just make sure there is someone doing the work, and not a moment of, “I thought you were doing that!”  Lastly, a schedule can help you sleep at night.  Instead of thinking about all the things you need to do, just go to bed knowing that there is a list, and so long as you keep the schedule up to date, you need not lose sleep.

So next time I start a brewery (insert laughter here), I will be sure to use the schedule like I have used the cash flow, marketing plan and retrofit budget …. as much as I can.  Let this be a lesson for you as well.  Create a schedule and make sure you update and check it weekly.

 

Quick Update on Things …

I think back to the days when we were first getting started with the brewery, and I can’t help but think how much time I had to do things.  It didn’t seem like I had a lot of free time, but in reality I did.  What I really had was the ability to get on top of things, which I have completely lost now. Let me try to explain.

When you first start writing your plan, you have time to dream, think about your beers, your brand, name, etc.  It is a natural part of things, and something that if we didn’t do, we wouldn’t be doing this.  As time moves on, you tend to get to more of the meat of the operation, and you need to start figuring out some details.  As time progresses, you think you have figured out a lot of the details of your space.  Things like brewhouse, packaging size, general location of warehouse.  You think you have made a lot of these decisions, but you haven’t.

You continue to work on your business plan, making what you think are decisions and changes of direction …. and then you do it.  You find a space to lease and you take possession.  This is when it starts to really happen.  You actually start making decisions, like general contractor, architect, brewhouse size, etc.  You think you are doing well, because you have made actual and concrete decisions.

What you don’t realize, is that you have only started on the tip of the iceberg.  There are thousands of decisions to make.  None of them are more or less important than any of the others.  Think of details such as these:  Size of cooler door to the inch, length of drainage trenches down to the inch, slope on concrete pour down to the degree, exact location of trade waste interceptor, etc, etc.  There is so many small decisions to make, it can become overwhelming.

Coming full circle, each of these decisions take time, and trust me when I say, you have very little of it.  Your funnel at the top is getting loaded faster than you can empty it.  About a year ago, you could pound out a good 60 hour week and be back on top of everything, but that is a pipe-dream now.  A 60 hour week will only mean that I have about 300 hours of unfinished work sitting around waiting for me to complete.  There is no way of catching up short-term, it is a matter of prioritizing and getting small jobs done.

Add to all this the work around the brewery.  I have been tying rebar and working around the brewery 7 days a week for the past few weeks, and there is still so much to do.  Take for example a typical day in my life.

  • Get up at 5am to 530am
  • Work in front of my computer until 745am
  • Get kids off to school and lunches made 830 to 9am
  • Drive into brewery to do work 930am
  • Manual labour all day at brewery until about 930 am to 3pm
  • Home to do work in front of my computer (accounting, marketing, business planing, etc) 330pm to 5pm
  • Down time, hang with family, 530pm to 8pm
  • After kids in bed, back to computer for more work 8pm to 11pm
  • Off to bed to do it again

This is a pretty standard day, and I know one that my partner also goes through.  If you are going to open a brewery, and you want to take an active role in starting it, be prepared for a day like this.

What you will find is that how badly you really want to do this will go a long way to making the above feel like work, versus feeling like a dream.  Luckily for Iain and I, the long days are a dream and the passion is burning brighter than ever, so we know we have made the right decision.

Webcam is up … and almost working perfect

We have added a webcam to our brewhouse, and after earning a undergraduate degree in this kind of thing, it is now live.  While there is nothing to see this weekend, and the feed needs a little refinement, we are now able to broadcast live the process of starting a brewery.

We hope that in combination with this blog, and the other information we have put into the world, we will encourage many others to follow their dream and start a craft brewery.  It is a labour of love, but something that you will never regret IMO.

Anyhow, we will be sure to post a schedule of when things are happening, so that you can watch the process of starting a brewery from the comforts of your own home.

Click here for the link and I promise that within a couple days the feed will be more clear.  For now, the camera is pointing to the South half of our warehouse, but as things happen it will shift back and forth between both areas, so you can see everything that is going on.

The Odds and Ends of this Process

One thing that takes a lot of time, especially of late, is the final layout and design of the space.  It is quite easy to get approximate locations of the brewhouse, walls, grain room, bathrooms, etc., but it is another thing to lock in the exact location.  This goes against what I ever thought would happen, and makes you choose between saving time, saving money, but only getting one of these at once.

Are you as confused as me?  Maybe the words are not flowing from my brain to the keyboard this early in the morning, but the final location and final detail of things is taking a lot of time.  Why are these things important?  Well, without knowing how long of runs you need for mechanical engineers, electrical engineers, your general contractor and others, you can’t really get accurate quotes on work needed.  If you can’t get an accurate quote, when it comes time for an electrician to do the work, and they need to do something that is not in the original package, there is an up charge for this.  In other words, if the electrician needs to run power to 10 extra lights that were not in the plan, they charge extra.  It is also the time that they can “bend you over the table so to speak.”

So in trying to button down all the details of what to put where, it makes life really difficult for the individual(s) putting together the final plans.  For us that means our architect, our brewhouse designer, and our contractor are all working in tandem, with emails and phone calls going back in forth at the rate of about 10 per day, with weekly meetings, and with miscommunication at every step of the way.  It is very difficult to orchestrate, as often people are not focused on our project alone, meaning sometimes it is not convenient for others to work on our project.  There are also vision issues, time issues, communication issues, and issues with our issues.

One of the biggest issues you cross when it comes to the odds and ends, is saving money versus saving time.  At the end of the day, we try to save both at every step along the way, but it has proven impossible.  If you want something done quickly, you are going to pay more as you narrow the window of options you have.  On the flip side, if you want things done economically, often the time needed to save the money is huge.  For our project this means trying to balance out these 2 things, so that we can save a little time, but also a little money.  Let me give you an example.

Should you build a cooler yourself or have one prefabricated and installed by someone else?  There is something about a cooler that makes it very expensive to pay a company to design and install.  It is not like the engineering is difficult, the materials are relatively inexpensive, and the amount of time needed to put it together is nothing exorbitant.  So when you get a quote from a company that specializes in putting this into your brewery, the cost blows your mind.  The cooler can literally cost $40,000 to supply.  WTF.  So this naturally leads us to look at designing and building our own cooler.  Quickly you realize that you can build the same thing, and save yourself about $20,000 which is huge in the grand scheme of things.  The challenge with this route is the time involved.  The time needed to procure the pieces, put together design specs, meet code, coordinate trades, etc, etc.  What we are now realizing that building our own cooler will save us money, but it will suck a lot of time from spending it elsewhere.

When you have time sucked away from certain things that need it, then you are delaying the process for other things moving forward.  So in other words, there is always a delicate balance between time spent on a project, and time lost on another project.  There is also a balance between money saved and time saved.

Let this be a lesson to other future brewery owners, the balance of these things is a hard thing to do, and you will spend a lot of time heading down a path, and then after a certain amount of time, backtracking and going down the other path, only to realize that you should have stayed down the first path.  The key is to always be aware which path is the best to travel down, and to recognize when you are running into a brick wall ….. because as we have learned, there is never a brick wall to show you are on the wrong path, only a few hurdles, making recognition of this even harder.

My key learning is this:  Sometimes getting overcharged is alright, so long as you spend the time you save elsewhere to move another aspect of the brewery forward, or save money.  There are other times an owner needs to make a greater effort to save money, at the expense of time, as the cost savings outweigh the time spent.  Choose wisely!

Finally, answers to our Electrical Nightmare ….

I have begun to realize that not everyone who is helping to get this brewery off the ground is willing to work until 2am, or makes this job the sole focus on their day.  In other words, answers that I expect within a couple weeks, sometimes take the better part of a month.  Sometimes these answers are not needed, so the time to get a response is not important.  But it seems like we need most of these answers in a timely fashion, and they set in motion a cascade of changes elsewhere, and each successive change is just as important as the last.

One of these huge considerations is the electrical issues for our space.  I have blogged about it, and it seems like we have been close to an answer for the past few weeks.  This is likely the biggest and most important answer we have been waiting for throughout this process, as our decision to lease the space rests on the advice and information we gather.  A bill of under $100,000 and we are golden to carry on.  Anything over this and we have a tough decision to make, and anything well over this means our dream is going to be dead in the water.  Additionally, we have already extended our contract to lease our space with the landlord past what we agreed to.  We were supposed to give our landlord an answer if we wanted the space by the end of November and we asked for a month extension, given the electrical issues and the lack of an answer around our Development Permit.

So here we are at this point.  We have 2 weeks to decide if we want the space, as the landlord requires an answer by the first week of January.  We have received our development permit from the City of Vancouver, so we are able to brew beer in this space.  We need to submit our building permit drawings to the City of Vancouver, and we need to find a solution to the lack of electrical power our space has.

Well as of yesterday, we found a solution to our electrical problem.  It looks like we are going to cut the power to the whole building, and re-run new power that will be sufficient for everyone, including our brewery.  This means that instead of getting a bill for well over $100,000, we should now come in around $60,000-$80,000 on this fix.  We are still a little upset by the amount we have to spend, but it beats the alternative, which is a pad mounted transformer, and the cost of which is about $250,000.

This means that all we have to do is hammer out the final details of our lease with the landlord, and we are going to lease this space.  I can’t actually believe this is about to happen!  Its almost like I have to pinch myself.  I know there are a few key points to be ironed out with the landlord, like tenant versus landlord improvements, personal guarantee (not unlike a kick to family jewels) length, but most of the important items have already been agreed upon.  In fact, our landlord has been very helpful and accommodating in working with our needs and challenges.  While his patience has started to wear thin, we hope that he still wants to complete a deal with us, and dot all the i’s and cross all the t’s.

I don’t want to get ahead of things, so I will leave our latest bit of good news at that.  I have learned from my mentors and peers that a deal is not done until you get a key to the front door, so I will not presume anything.  What I do know is this:  The lows we felt about things after our floor issues popped up, and then our electrical issues came to the front, have all been offset by the development permit we received, and then the answers around the electrical.

With any luck, we will have a firm deal in early January, submit our building permit application in 8 days, and start working on our brewery sometime in early March.  Should all this come together as we hope, we should be open for business sometime in August 2014.  Thats right, in about 8 months our brewery will be producing beer and slinging it to eager locals before you know it.

Given the amount of work to do, and the mountain we need to climb in order to get everything ready, I am going to take this Christmas break to relax and enjoy some time with my family.  The way things are shaping up, I may not see to much of them from February to August of next year.  Happy holidays to everyone that reads this blog and I hope you have a fantastic end to 2013.

Electrical Follow-up … Even more “Shocking”

When you sit at home thinking of what it would be like to open a craft brewery, you don’t think about stuff like this.

If you read my last post on the electrical issues with our space, you would know that our electrical bill went from an anticipated $30,000 for a simple upgrade the transformer on the power pole, to almost $120,000 for a pad mounted transformer.  It turns out we can’t put a pad mounted transformer in the parking lot, as our landlord needs to keep these spaces for tenants in our building and other buildings he owns in the area.  In fact, he has already received a variance from the City of Vancouver for the number of parking spaces he must to have, and anything that takes away from this number is not permitted.

This results in messing this situation up even more, just when I didn’t think it was possible for this process to go off the rails any further.  Now instead of a $120,000 bill, which believe it or not we think was actually doable, we are now looking at a substation.  Holy crap, I think building an actual Submarine station would cost less than this thing.  Initial estimates for a sub station in our building are about $250,000.

Unless we can find a economical solution to this problem, there is no question about it, we are done with this space.  When you consider that we spent about 8 months on this space, hundreds of hours of time and effort laying out the space, getting quotes, planning equipment, designing tasting room, etc. it seems almost surreal that this is happening.  It doesn’t end there.  Financially, we spent over $30,000 in fees, permits, lawyers, engineers, accountants, architects and other misc items.  When you add all this together, it’s really painful to have reached this conclusion after so much.  But at the end of the day, it is better to walk away without $30,000 than it is to walk away with a business that failed to get off the ground.

We have our last ditch effort to find a solution on Wednesday of this week.  I hope that the people we have relied on so much throughout this process are able to come up with a creative idea that works for everyone involved.  One thing is for sure, I won’t be getting much sleep tonight.

General Update on Things

I have received some feedback lately around wanting a general update on our progress.  There seems to be genuine interest in how the overall project is going versus what we are encountering on a daily basis.  As such, this post is a little more of a general update on our progress rather than a general rant about this process, or a specific detail of things.

So as you likely know, we have submitted a development permit to the City of Vancouver for a space in East Vancouver.  On Thursday of last week, we were told we’ll be given an answer on this permit in the next couple weeks.  We are waiting for this permit, as we can’t lease the space we are interested in without first getting approval to brew there by the City.  In Vancouver, the only buildings that you can outright lease and know with certainty you can brew is M2.  The trick is that there isn’t a lot of M2 zones, and the buildings we were looking at in M2 just weren’t right for us.  So we ended up in an I2 zone, which is one where brewing beer is conditional upon submitting a development permit.  Any potential for us to use this space hinges on getting this permit, so we are waiting with fingers crossed to get good news.  As of Nov 18th, no news!

Another big process is collecting and securing money from investors.  Luckily, an investment in our brewery is eligible for the eBC tax credit, which basically means that 30% of each investors money is returned to them in the form of a credit from the government of BC.  It looks like we need to raise over $1,100,000 so everything we can do to help secure “financial partners” is welcomed with open arms.  We are going to be collecting money in the next 2 weeks from our investors, so I hope that what people have committed is what they are going to offer us.  If not, I am sure I will post something around my frustration with this.

Financing is another part of the business that is really important.  We will need both an operating loan and a line of credit in order to make the business float during the crucial first couple years.  Opening a brewery can be a recipe for financial hardship, as the line between profit and loss on a monthly basis is razor thin.  If sales fall behind a little bit, and costs are a little higher than expected, money can go out the window very quickly.  Luckily for us we were approved for a loan and line of credit to make our finances come together.  These will total about $450,000, and when added to the money we are raising we feel like we should be in a good position to make things work.

The layout of our space and submission for building permits is something we have been working very hard towards.  In fact, this has taken the majority of our time of late.  With the arrival of our Development permit by the end of November <fingers crossed>, we would like to have our building permit submission ready to go.  This means that we need to have the layout of the space virtually complete, have the work needed by engineers complete, have all the drawings and work from our architect complete, and to have all other inputs ready to go.  It seems really easy when I sit here and type this, but the reality is that there are so many moving parts to this, that it is incredibly complicated and difficult to carry out.  Finalizing the layout of our space has taken us over 8 weeks, as there are SO MANY variables to consider.  For example: Needs now versus in the future when we grow, tasting room connection to brewing space, retail area, production flow and functionality, the location of existing services, proximity of different spaces that need to be connected, etc, etc.

Equipment is something that we need to have ready to go, so that we can be sure it is ready in time for production.  We have looked to China, Europe, Canada and the USA for our brewhouse and tanks.  To be honest, I can see why this step can be either really easy, or one of the most difficult steps.  No two quotes seem to be alike, and the unknown factors of quality, timeliness of delivery, and follow-up support make these intangibles even harder to gauge in terms of importance.  A big hurdle to buying Canadian is the price.  Companies like Newlands and Specific Mechanical are local and have a good reputation in the business, but their prices are among the highest.  Moreover, it sounds as though some of the other start-up breweries have experienced some trouble with them.  Then there are the systems from Europe, where the quality is top notch, and the price matches.  Moving East to China, the land of cheap equipment, but one where the after sale service is poor, and other local breweries have experienced trouble with having to repair brand new equipment.  All of these things make choosing one company to work with very difficult.  At the end of the day, it is a balance between all these things, and hopefully one company stands out as the best.  At this point, we have no idea which one it will be.

Another huge part of this process is our name.  For the time being we are letting this one go for a few weeks.  While we don’t have an official name yet, the focus groups we ran were instrumental in getting us closer to making this choice.  The only problem is that we are putting out other fires that are more important at this time.  Things like financing, layout, legals, accounting, etc.  We anticipate having our name by the end of the year, and that should give us 8 months to create a brand around this.  I hope this is enough time and that we make decisions that are based on sound principles.

The legal side of things is something we kind of let slip and caused us a lot of grief and unnecessary stress.  In order to raise money and run a proper incorporated company you need to have:  A shareholders agreement (aka a partnership agreement), a subscription agreement, a set of articles for your company, and a share ownership agreement.  All of these documents are tedious to create, and require the hard work of a legal team.  Reviewing and revising take a lot of time and mean that you are continually working on getting these documents ready so that you can raise money, and provide a framework to investors on how your company will operate.

There are literally hundreds of other little things to do, some of which are major and some of which are minor pieces of major components.  There seems to be nothing that isn’t important in some way to the overall picture of this brewery.  To be honest, I would love to find the time to blog about all these things, but I just feel too much pressure to write about them, rather than working away at them.

Nothing to do but Everything to do

Some days I feel like there is nothing that needs to be done in particular.  Whether its marketing, the business plan, finances, cash flow, collecting money, etc., there never seems to be a timeline on getting some of these things done.  But when you take a moment and look from 50,000 feet at what you have to accomplish before you sell your first beer and HOLY CRAP, there is a lot to do.

All of this means that starting a business, and in particular this brewery, results in having a lot on your mind.  I’m not talking about when you are in the shower, or making dinner …. I mean in the middle of the night, or when you should be engrossed by something else like a CFL game, or the company of a great friend.  It is so easy to let thoughts of your business, and the work that is undone, creep into your mind and send you on the path of mental anguish.

Tonight is a great example of that.  I would like nothing better than to sit down and turn my mind off the task at hand, but there are a few things on my mind:  I have a Brand Guide that needs attention, emails to investors to follow-up on progress, work with an architect on the space we are trying to lease, a meeting on Monday with our Accountant to prepare for, documents that our Lawyer needs returned, emails that need to be answered, a business plan that needs to be updated before it is PDF’d, decisions on equipment that need to be made, more requests sent to suppliers and manufacturers for additional quotes, contractors that need to be interviewed for work required, and most importantly this blog which needs to be attended to (I will get a check on that after this).

All of this makes me realize that Entrepreneurs are both made and born.  You have to like the  chaos that comes from this process …. the constant juggling and prioritizing of tasks, working in the trenches, while at the same time, working like a VP, and the constant struggle between what you really want to do, and what the market wants you to do.  You also have to be able to turn it off, and it is something that requires constant reminders of this.

So with the end of this blog, I am going to make a to do list for tomorrow, and turn-off my mind.  I am reminded what one of my good friends and mentors tells me …. starting and running a business is a marathon in that requires a balance of running harder to stay ahead of things and laying back to regain some strength.  Tonight might be some time to regain some strength.

When to quit my paying job for one that costs me money?

One thing that I tended to overlook was the transition from working at my current job, to working at both jobs and then making the jump to the brewery full time.  It is a delicate balance, and one that had its ebbs and flows, so it can be a hard thing to judge when the right time is to make the move.

My journey started about 5 years ago, when I just couldn’t shake the dream of wanting to start a craft brewery.  I have always been an entrepreneur and at various times in my life, I have tried starting businesses, intermingled with jobs working for corporations, other entrepreneurs and multi-nationals.  There was the Crepe restaurant that I tried starting during University with my good friend, an advertising company we tried starting after University, and a destination based travel company I tried starting in the late 90’s.  All didn’t get off the ground, and looking back on those experiences, I am glad, as they would have likely prevented me from following this passion.

It was about 5 years ago that I needed a work/life plan to start a brewery.  I knew that there is a whack of work involved in starting a brewery, a lot of cash needed, and often that work revolved around times that were inconvenient to having a 9-5 job.  Most importantly, I knew that you couldn’t stop doing everything in favour starting a craft brewery, as the road to opening your doors is several years long, and that means no salary for a long time.  So I wrote my real estate exam, and became a realtor.  It was a tough few years, one that made me question what I was doing to my family and my life that seemed so normal and easy up until that point.

You see our life was comfortable.  Both my wife and I worked for large companies, which meant we brought home regular income, and had for the most part 9-5 jobs M-F.  Well when you get into real estate it is often the opposite of that.  Evenings and weekends, and work is excessively seasonal in the Spring and in the Fall.  This can be a real challenge when you have kids and friends who work in other M-F 9-5 jobs.  But it was my dream to start a craft brewery, and as such I thought the best way to have flexibility to start a brewery was to be a realtor, as the hours were flexible, there were some great skills I would learn, and it would provide me a little cash to pay for some of the expenses along the way.

Having walked this path for the past 5 years, there have been many highs and lows.  At the end of the day, there is no perfect job to have when you are looking to start a brewery, and depending on your situation, there are likely a variety of options that are best for you.  I have found the flexibility with my schedule and complimentary hours a positive in working real estate, and the lack of regular income and seasonality in work required with real estate the biggest challenges.

So all of this leads me to question when I should quit my real estate career in favour of working for the brewery full time.  The sooner I move to the beer business full time, the better my business will be prepared and planned.  The flip side is the longer our family will have to go on one income, and the greater the stress on my wife and kids.  I really don’t think there is an answer to this question, but I do feel like I am getting close to that point.  The 60 hour work weeks used to be enough to fit everything in, but now they are insufficient.  The space we are looking at leasing is requiring a lot of work and attention to detail, not to mention money.

I can see all of this leading to a point where I will be exhausted, broke, and likely as happy as a kid in a candy store.  I hope that I have the wisdom to make the right decision on when to break away from real estate, and focus on the brewery.  It doesn’t feel quite right yet, but I expect by the end of the year, when we have our space leased and operations set for a grand opening in 2014 sometime, the right time will emerge.