How WEG can impact your wallet.
Good Morning Neighbors!
Charles Burgess coming to you during the most EPIC event of the year. Yep. You guessed it! It’s The FEI World Equestrian Games™ Tryon 2018 and it has everyone searching like Jerry Maguire for someone to “show me the money!”
The GOOD NEWS is that over these 2 weeks there’s plenty of money coming through the area. For instance, Polk County has an estimated $400 million dollars of projected economic impact! Here in RoCo, people are renting their properties for 5-10 times their typical market amount, hotels are completely booked and the international travelers are shopping in our stores and eating in our restaurants.
Photo credit Shannon Brinkman | www.equestrian.org.au/news
The BAD NEWS is that you probably won’t see any green hit your account if you haven't been a part of the planning process to this point, aren't a restauranteur or a merchant. At this point you’re a day late and therefore, a dollar short.
That doesn’t mean that WEG and your wallet can’t be friends.
If you are a merchant in the town limits of Forest City and Rutherfordton, you can still stop by Town Hall and pick up an "Official WEG Supporter sticker" to display on your store front, offer discounts for WEG ticket holders, and advertise your WEG hospitality on your windows and on social media. Like everyone, these guests want to feel comfortable before even coming in the door. Many of them will be back to qualify for future games so this act can also serve as a reminder of your support moving forward as well.
What you need to know
TIEC is just getting started in the overall scope of what is to come. They have been at a fever pitch just to have the courses and arenas ready for the EIGHT DISCIPLINES competing over the World Equestrian Games.
Everyone knows they haven't been able to build the lodging they planned. Their master plan includes a five-star hotel, apartments, condos, amphitheater and water park — envision Disney World where you never truly leave the property. But this vision will take time. The shortage of amenities, hospitality and accommodations, that’s our cue!
So here’s a few tips you need to know as we look beyond these two weeks and towards your cash cow:
1. Inventory your opportunities
If you’re like most folks I talk to, then you thought about renting your space and are regretting that you didn’t when you discovered rates ranged from $200 night to $20,000 for the duration of the event.
Until TIEC’s property is complete, there is huge opportunity to rent. We won't have another Olympics of Horses, but the athletes do have to earn points to compete at this level. TIEC will continue to provide point earning opportunities, not just in Jumping and Dressage, but now in Reining and others.
Curious about the top three things that makes your property worth the chase?
Lakefront Properties - Lake Lure & Lake Adger are two of the most obvious choices within 20 minutes of TIEC
Gated Communities in close proximity to TIEC - Green River Highlands, Clearwater Creek, Vista at Riverbank, etc...
Key Amenities - Golf, Pool, on-site Restaurants - Homes, Townhomes & Condos at Cleghorn Golf & Sports Club fit this perfectly.
Time for some Equestrian Trivia!
We mentioned TIEC having eight disciplines earlier, do you know what they are?
2. Prepare your property
Even if you missed the short term rental scene, you can still find yourself living the dream! Homes are expected to continue to sell, and farms are most definitely a target on the list for the long-haul.
If that’s you, don’t hesitate to clean up, fix up, and gear up for a lottery-like sale when the time is right. With the right amenities, homes will sell as far out as 30 miles from the TIEC! We recently heard of a 50-acre farm selling in Shelby to competitors from the North.
3. Do your Due Diligence
Some people just have a knack for knowing what to do, but some of us need insight to our investments! I’d encourage you to take time to learn about other places that are seeing the impact from equestrian industry.
Places like the Palm Beach Equine Sports complex in Wellington, FL are an incredible excuse for a road trip. Checking it out online or in person will give you insight into how the locals benefit from the business, as wells as trends to keep tabs on.
4. Survey the Scene
Almost everyone is placing their bets on the future being bright at TIEC. Employment is one of them.
Isothermal Community College (ICC) is honing in on new hospitality and tourism degree programs.
They’ve also added Groom Elite classes through the equine program for you animal lovers.
The Future is Bright! Be ready.
Seeing how their Florida sports complex (PBESC) only operates for one season a year and has the capacity for three events (polo, dressage, jumping), the 3-season operation here blows it out of the water!
You get the point. The more you know about the people and the programs, the better you can prepare to benefit.
As life might be disrupted over the next two weeks, remember that the impression (of athletes, reporters, broadcasters and trainers from all over the World) that these visitors walk away with translates to impact. If they find the area pleasant, easy to get around and welcoming, they are more likely to come back while on the circuit toward the 2022 games.
So, while all our hopes to get rich quick are a likely a “no” for last minute efforts during WEG, these will help you get rich — by being in the know. We’ll do our best to keep you up to date an how you can have EPIC benefit from the incredible asset to our county because we want you to have an epic life.
#thatswhatshappening #WEG #epic @tryon2018