Seeds
Seeds can be described as your most unqualified real-estate. Whether it be a fully furnished building or an empty dirt lot found on a broker tour, these are ‘breadcrumbs’ scattered throughout your territory that will be further evaluated. While we typically see the “line in the sand” for seeds drawn prior to issuing the letter of intent, seeds can truly be any asset with roughly 10-20% confidence of becoming a fully opened location. Seeds contain basic details, custom data and memo’s, as well as the ability to attach assessments, documents and photos. However, seeds are unique in that they do not have associated timelines like all other units. It’s also important to note that because seeds are not considered units within SiteZeus, they are not pulled into any unit reports, such as the Development Report.
Sites
Next in the funnel is sites. A site can either be converted directly from a seed or can be created independently. Seeds meet the qualifications for your next level of evaluation, perhaps after the LOI has been submitted, and the level of confidence at becoming a location sits at around 20-40%. With sites, and all units moving forward, you can now add both team members and ownership information. You also have the ability to email the unit through the use of the correspondence tab, as well as track any changes through the audit history tab. A site is also where you’ll assign a timeline to track planned, estimated and actual task completion dates.
Projects
Projects mark the last phase in the development funnel before a location is actually opened. At this point, your team is ‘hard in the deal’ so to speak, with about a 40-80% chance of success. Similar to the previous steps, you can either convert a project from a site, or create one on it’s own. Just to reiterate, there are no functional differences in SiteZeus between Sites and Projects; the significance of their separation is in the amount of work put into them and the likelihood of opening. This is also done to allow for easier and more comprehensive reporting between the two units.
Locations
The final unit type within SiteZeus is locations. Locations can either be created individually, or by converting a project. Keep in mind that the timeline task ‘Opening Day’ must be marked as ‘Done’ in order to make that conversion. Locations feature all the functionality available within projects, but are 100% open for business.