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Last Update: Wednesday December 13, 2017

Key Idea: Combine Intangibles With Tangibles

Bridgecreek doesn't just provide a place for its tenants to operate businesses; it provides what Frank calls a cultural center and all their customers are treated with great warmth and respect by the entire staff. 

Key Question:

A: 

Sell a feeling.

Q:  What truly motivates Frank?

A: His desire to create a home for the Vietnamese who lost their home to the Communist regime. The brave souls who made the tough journey to America arrived with nearly nothing but the determination to live in freedom. Frank knew they needed more than a place; they needed a home.

No wonder Frank is such a success. Not every company can have such a noble mission, but this shows what happens to the owner who does have powerful and positive motivations. In addition to clean, comfortable, easy-to-access commercial space, Frank provides a place for the tenants to say their prayers before opening their shops each morning. There are architectural accents that remind them of their roots. There is even an area for parades, festivals and the performance of plays and music. These extra efforts invested to create intangible amenities helps to keep Frank's space fully occupied and prosperous.

Think about it

What do you do for your customers? How do you connect with them emotionally?
 

Clip from: Bridgecreek Development - Frank Jao

Westminster, California:  In 1975 Frank Jao and his family came from Vietnam  in a C-130 (military aircraft) to Camp Pendleton. They had nothing. 

Within a 48 hours of arriving in California, he got a job as a vacuum cleaner salesman. Within a year he had taken the courses to qualify to become a realtor. With three years he was developing property for others. Within four years he became the founder of Bridgecreek Development and he broke ground on his first building of 50,000 square feet.

Today Bridgecreek literally owns millions of square feet in California  and he has inspired the development of even more. California has become his home and the home of over 400K Vietnamese and their de facto capital outside of Vietnam.

Yes, meet the people who started Little Saigon.

Frank Jao has been recognized by the President of the USA and today Frank is the president of the Pan Asian American Chamber of Commerce West Coast and he is spending 25% of his time taking US businesses into Asia.

Immigrants to the USA remind us that this land is a light on the hill, a beacon to the world. We know that business works best within a democratic, ethical society.

Bridgecreek Development

Frank Jao, Founder

8907 Warner Avenue
Suite 118
Huntington Beach, CA 92647
714.842.8038

Visit our web site: http://www.bridgecreek.com

Office: 714.842.8038

Business Classification:
Real Estate

Year Founded: 1975

Combine Intangibles With Tangibles

FRANK: People not only need a place to shop, but they also need a place to reflect their common interest of culture.

KATHY B: The first thing in the morning when the mall opens – the tenants will come to the second level for the shrine of the "Gaun Gong General". He is referred to as the "red-faced" general – protects all of the people in the mall. So the tenants will come up in the morning – burn their incense – make their offerings and say their prayers, every day.

FRANK: Culture includes education, includes entertainment and art. So all of those, all of the sudden, just automatically evolve into a whole big program. So, in order for the commercial establishment to be a success, all of the element has to be there.

HATTIE: What are the secrets to building community – to building the right kind of space that engages the community?

FRANK: When I go out to look for my location to start – I need to look into, first of all, the affordability of land. The location would be compatible to the people I intend to serve. Those are the two most important elements. Then the real estate expertise comes into the picture – of accessibility, friendly governments and all others.

FRANK: Typical real estate measurement of success is the foot traffic that brings about to a center. To me, that is important, yet at the end of the day – the highest rent we could get out of each square foot of the center is the key measurement. Of course, that totally relies on how much traffic. Having high traffic in a center does not necessarily mean a highest yield on the rent. Because, the formula, how you apply it – so that the tenant gets the most out of it. The tenant has to be profit first. If the tenant is not profiting, the shopping center owner would not be able to profit in the long run. So it is always that we need to look out for the profitability of the tenant first and then automatically, we benefit.

HATTIE: So how long have you been at the mall here?

Tenant: Let's see – how long – about 10 years.

 
HATTIE: Ten years

KATHY B: She was an original tenant in this unit – when this one opened ten years ago.

Tenant: Until now –

KATHY B: Until now.

SINH CUNG: I think the most important thing is that we need to listen to the tenant – listen.

Employees: (un-translated Vietnamese)

SINH CUNG: Listening – and then you see if they are reasonable -- of course you have to do everything that you know to make them happy. And Frank makes sure that all those shopping centers are doing everything for the tenant to have the potential to make the tenant grow with the company.

HATTIE: Little Saigon – when did this neighborhood get this label and how do you think that happened?

FRANK: That happened because – the majority of shoppers here are from Vietnam. And Little Saigon is needed because the Vietnamese in America – over all -- not just in Orange County – need a home.

This is considered now as the capital of the Vietnamese American and the home of the Vietnamese American outside Vietnam.

FRANK: This is a residential track that is in the northern part of the shopping center and transitions into the commercial area and being softly sandwiched by a mini cultural park called The Confucius Square.

To put it in one simple word – Confucius reminds all of us to retain the simplicity of the human character.
 

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