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Show A-28 Sat/Sun/Mon/Tues, July 2-5, 2016 The Park Record MARKETPLACE Nightly Lodging Tally Occupancy Report for week of July 3-July 9, 2016 100% Entrepreneurs have a helping hand 90% 80% 70% Company provides financial services to help startups grow 60% 50% 40% 30% 20% BUBBA BROWN 10% The Park Record Ben Pittsley has seen it time and again. An entrepreneur will create a product or an idea and successfully send it to market -- then have absolutely no idea what to do next. “All of a sudden, the market takes it and they don’t have enough time and they don’t know what to do,” he said. “They don’t know how they grow from where they are today to where they want to be.” That’s where Pittsley comes in. The business he and his wife, Allison Pittsley, started, Flatirons Business Solutions, provides the financial expertise to help latestage startups and growing small businesses get to the next level. It provides services such as bookkeeping, tax preparation, cash management, strategic planning, and revenue and cost trend analysis -- all the skills that are crucial for entrepreneurs but tough for those without financial expertise to manage. Ben Pittsley said Flatirons Business Solutions’ part-time services are designed to bridge the gap for companies between their seed stage and when they become large enough to take care of their finances in-house. It can be a tumultuous time if entrepreneurs don’t know how to manage it, but Flatirons aims to take away much of the stress. “Eventually, they hopefully will become successful to the point where they do require that full-time role, and we’ll work ourselves out of a role with them,” he said. “We’ll help them transition to a full-time staff or full-time bookkeeper or CFO, whatever it may be. But we are that stopgap because otherwise, they get into a vicious cycle.” 53% Sun 43% Mon 43% 34% Tues Wed 2016 - As of 5/31/16 39% Thurs 46% Fri 47% Sat 2015 - Historic Actuals Week High ...................................... Fri/Sat 47% Weekly Average ..........................................38% NOTE: This is not a forecast of bookings. Data presented in this report represents occupancy on the books as of the report date. Source: DestiMetrics & Park City Chamber/Bureau © 2016 Skullcandy draws multiple offers BUBBA BROWN/PARK RECORD Allison and Ben Pittsley started Flatirons Business Solutions in Boulder, Colorado, in 2012. Now they are bringing the company to Park City, and they hope to give entrepreneurs and late-stage startups the help they need to take their businesses to the next level. The Pittsleys started the company four years ago in Boulder, Colorado. Ben Pittsley had spent half of his career picking stocks at mutual fund companies, before joining an energy company and working in mergers and acquisitions. But his work left him unfulfilled. So he started Flatirons Business Solutions with his wife, a certified public accountant, as a hobby. Then, when he left the energy company, his newfound flexibility proved to be the perfect opportunity to expand the business and integrate it into the flourishing startup scene in Boulder. Their recent move to Park City was, in part, because they see the same opportunities here to help startups. “I wanted something that, at the end of my career I could point to and say, ‘I helped build that,’ as opposed to numbers on a screen,” Ben Pittsley said. “This is something that, at the end of the night, you can go to bed and think, ‘Wow, I actually am helping someone.’ And that was far better than even my corporate role.” The amount of work companies require varies. Initially, Flatirons spends 40 to 80 hours going through a company’s books, or “laying the foundation.” Sometimes, Ben Pittsley said, accounting errors are found that save a company loads of cash. “At times, (Allison has) gone back and been able to refile three years of taxes and recover capital they had given to the IRS, thinking that they owed a certain amount of money and they were wrong,” he said. After the initial work, companies are free to choose how much they utilize Flatirons. Some businesses need five hours of attention a month, while other require 15 hours a week. Prices are based on hourly work, and contracts are month-to-month, meaning companies are free to cancel the service at any time. Additionally, Flatirons attempts to make the process as pain-free as possible. That means the Pittsleys will conduct meetings over the phone or on Skype, or meet with their clients on-site. “It basically is client-driven,” Allison Pittsley said. “But a lot of these companies, they don’t want to see it, they don’t want to hear it, they don’t want to think about it: ‘Just update me at the end of the month and tell me what the numbers are.’ We’re able to really operate behind the scenes.” The Pittsleys are eager to dive into the Park City business scene. They are hopeful entrepreneurs here will be keen to utilize their company. Starting Flatirons has been one of the most rewarding experiences of their careers, and they’re excited about sharing their knowledge with others. “Working with people who are excited about something,” Allison Pittsley said, “is so much better than working with people who are just a cog in the wheel, winding through.” Flatirons Business Solutions Flatironsbizsolutions.com 603-219-5011 The company is considering deals with two buyers Courtesy of Skullcandy Skullcandy, Inc., a Park Citybased company known for selling headphones and other audio equipment, announced this week that its board of directors received an unsolicited proposal from Mill Road Capital to acquire all of the outstanding shares of Skullcandy common stock. The proposal comes on the heels of an announcement that Incipio, LLC had reached a deal to buy all of the outstanding shares of Skullcandy common stock for $177 million, or $5.75 per share in cash. That merger agreement provided for a “go-shop” period until July 23, in which Skullcandy’s board of directors is soliciting alternative proposals to acquire the company. While Skullcandy is seeking other potential buyers, Skullcandy and Incipio, LLC are continuing to work towards completing their transaction in case no better offer materializes. The Mill Road proposal to acquire the Skullcandy stock for $6.05 per share is contingent on the company completing its due diligence, obtaining financing and other matters. The terms of the merger agreement with Incipio allows for Skullcandy’s board of directors, in consultation with its financial and legal advisors, to carefully review and consider the Mill Road Capital proposal to determine what is in the best interest of the company and its stockholders. There is no certainty that Mill Road Capital’s proposal, or any others, will be chosen instead of the original merger agreement with Incipio, LLC. Skullcandy does not intend to make any further comment on the Mill Road Capital proposal, or any other proposal that it may receive, until its board of directors has completed its review. GREAT EXECUTIVE SUITE STEPS TO POOL Hotel Park City Studio | 1 bath | 527 Sq Ft | $415,000 2001 PARK AVENUE #110 OLD TOWN Hotel Park City, the newest Autograph Collection by Marriott property is an all suite, wholeownership condominium resort hotel which successfully integrates a full range of personal services and amenities found only in the finest luxury hotels, with all the benefits of condominium ownership. Golf, Nordic Ski, snowshoe, hike or bike out your door or take the free city bus or shuttle service around the corner to Park City’s world class ski resorts! RossPCRE.com | RossParkCityRealEstate.com EXPERIENCE – KNOWLEDGE – COMMITMENT KA R I N Associate Broker & T I M R O SS EXPERIENCE – KNOWLEDGE – COMMITMENT karin 435.901.4663 k t r o s s @ bhhsutah.com tim 435.901.3753 t r o s s @ bhhsutah.com New Property Release! Overlook Neighborhood Our newest neighborhood of developer homesites is now available! The Overlook neighborhood offers fabulous views and great privacy, with commanding views of golf and Mount Timpanogos, this is the perfect location to build your dream home. Exclusively Brokered by Red Ledges Realty, LLC . Obtain the Property Report required by federal law and read it before signing anything. No federal agency has judged the merits or value, if any, of this property. All descriptions, depictions, and renderings are provided solely for illustrative purposes and are subject to change. ©2016 Red Ledges Land Development, Inc. RedLedges.com (435) 657-4090 |