July 14, 2023
From the Desk of
CHRIS MORROW
What is Taking so Long?

As we wrap up the second quarter of 2023, it is a fitting time for me to reflect on our company’s performance. Despite the positive trends of revenue growth, brand onboarding, and the influx of talented professionals, there is one metric I look at that makes me scratch my head: the increasing duration of our lease process.

Morrow Hill has a reputation of being the most efficient real estate firm in North America, celebrated for its speed and attention to transactions. It is precisely this reputation that entices franchisors to flock to our doors. However, a closer examination of the 2023 data reveals a significant deviation from our previous achievements. In both 2021 and 2022, we proudly maintained an impressive average timeline of 120 to 150 days from lease initiation to final signing. So, it begs the question: why are we now approaching the 170-day mark in 2023? Upon further analysis, three key factors emerge as the underlying issue:
 

Construction Costs
This has been a moving target for nearly two years now. These escalating costs have affected transactions during the underwriting phase, catching franchisees off guard with unexpected financial burdens. The process of value engineering and soliciting multiple bids drags out lease agreements by an additional 6-12 months.

Market Conditions
Depending on who you ask or what report you read, there is a national retail vacancy rate of
5-6% across the country, the lowest figure it has been since 2007. In several major markets, the vacancy rate can plummet as low as 2%. This tight market environment significantly impacts the search for prime locations. What used to be a typical 90-day search now extends beyond 6 months to find a suitable location.

While Morrow Hill continues to push the industry boundaries and maintain efficiency, we must also alert our clients to the prevailing market conditions and the potential challenges they present. There does not seem to be any end in sight, therefore we must maintain a transparent approach so that our franchisors can proactively respond to the circumstances at hand. 
Chris Morrow
President of Morrow Hill

Morrow Hill Launches Next-Generation Mapping Analytics Software, Leaving Competitors Outdated and Obsolete
Introducing Vision Map®, the powerful data analytics platform that empowers companies to make informed, data-driven decisions to drive growth, increase sales, and optimize operations. Our platform is designed to collect, analyze, and visualize data in real-time, giving companies a comprehensive view of customers and operations.  

We understand data is crucial to a company's success and we have developed a platform that enables businesses to identify trends, track customer behavior, and optimize operations, which can result in increased sales and profitability. With Vision Map, companies gain insights into their operations that otherwise go unseen, helping make better decisions and drive growth for business. 
With our customizable territory approach, businesses can identify the areas to target and create custom territories for sales teams. This will optimize sales efforts, ensure that sales territories are not overlapping with each other, and maximize coverage of target markets.  

Vision Map is designed to be user-friendly and provide customizable dashboards and reports, enabling businesses to track the metrics that matter most to their business.  

Don’t miss out on the opportunity to unlock the power of Vision Map and revolutionize your decision-making process with unparalleled data insights. Schedule your Vision Map demo today by emailing info@morrowhill.com. 

The Power of Partnership
The Story Behind Dogtopia's
Rapid Growth
The June issue of The Franchise Journal featured an exclusive interview with Dogtopia's Chief Growth Officer and Morrow Hill's Co-Founder as they shared key strategies and invaluable advice for emerging franchise brands.
Hard Work Pays Off

Morrow Hill recently surprised two exceptional Transaction Managers, Amanda Lawrence and Ian Laskowski, with an all-expenses-paid trip to the Bahamas for them and their spouses.

These two individuals have consistently exemplified dedication and professionalism in their work, always going above and beyond for their clients.

Throughout their respective careers, Amanda and Ian have consistently gone the extra mile and continue to inspire the entire team through their hard work, dedication, and outstanding achievements.

Congratulations Amanda & Ian! Time to unwind, recharge, and enjoy some much-needed rest and relaxation. 
Employee Spotlight:
Amanda Lawrence

Amanda Lawrence is a Senior National Transaction Manager at Morrow Hill. With an impressive seven-year tenure, Amanda has been a driving force in the commercial real estate industry ever since she started with Morrow Hill. 

From the moment she joined Morrow Hill, Amanda's remarkable drive propelled her to the forefront of the industry. As the current top performer of 2023, she has outperformed all others by closing the highest number of transactions for the year and surpassing $12,500,000 in lease considerations generated this year alone.

Her successes have consistently placed her at the top of the earning charts, averaging at least one closed deal per week. Amanda's unwavering drive and dedication is unlike any other and solidifies her position as an industry powerhouse.
Get the Maximum Value for Your Business
Looking to sell your business? Morrow Hill has partnered with Valhalla Business Brokers to help guide business owners through the selling process from start to finish. With Valhalla’s comprehensive sales process, business owners are more likely to make maximum profits on their sale.

Valhalla’s disciplined approach to the sales process begins with valuation, which provides perspective and establishes a baseline for decisions that may increase value. Whether you are looking to attract Strategic Buyers or Financial Buyers, Valhalla understands both types of buyers and markets your company to meet their specific needs.

Want more information?
Contact Terry Willson at
or (214) 673-3850
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Bubbly Paws opened a new location in Pembroke Pines, FL! Morrow Hill enjoyed working with you to find the perfect site.
MADabolic
MADabolic franchisees, Landon and Finley Funsten, recently signed a lease for their third location coming soon to Charlotte, NC.
Hand & Stone
Congratulations to Hand & Stone Massage and Facial Spa for winning Most Innovative Product Introduction at the Franchise Innovation Awards.
Want Your Franchise to be Featured?
Within each issue of the quarterly newsletter, Morrow Hill highlights different franchises and brands that use Morrow Hill.

Want to be featured in the next newsletter?
Contact Caroline Wahl at caroline@morrowhill.com for more information.
Morrow Hill | www.morrowhill.com