Triangle Company Tapped to Grow Dickey's Barbecue in NC

Triangle Business Journal

GMW Carolina Inc., which owns Dickey’s Barbecue Pit restaurants in Cary and Durham, has signed an exclusive deal to grow the Dallas, Texas-based chain in North Carolina.

Gregory Woloszczuk, head of GMW Carolina, says this is the first time Dickey’s Barbecue Restaurants Inc. has entered into a statewide development deal with a franchisee. Dickey’s usually deals with franchisees directly. In this case, however, Dickey’s will rely on GMW to sign and support franchisees in the Tar Heel State.

By leveraging local expertise, Dickey’s believes it will be able to open locations faster and reduce expenses, Woloszczuk says.

GMW Carolina has signed up three franchisees to develop restaurants in the Triad, the Sandhills and the New Bern area. GMW also is looking for Raleigh real estate to add its third Dickey’s location, Woloszczuk says.

Woloszczuk expects each of his three franchisees to open at least one restaurant before the end of the year, saying that all three currently are in lease negotiations. He hopes to have his third Triangle location locked up before 2011.

In the meantime, Woloszczuk will be looking to sign up franchisees in the Charlotte, Fayetteville and Asheville areas over the next six months.

Woloszczuk and his wife, Maureen Woloszczuk, founded GMW Carolina in 2006. They opened the Cary Dickey’s location in September 2007 and the Durham restaurant in April 2008.

GMW has 25 employees. Each Dickey’s has about a dozen workers.

Dickey’s, which was founded in Dallas in 1941, features hickory-smoke barbecue in a variety of plates and sandwiches.

Triangle Home Sales Dip, But Positives Emerge

Story from Triangle Business Journal

The number of Triangle homes sold in April was down year over year, but new data from the Triangle Multiple Listing Service show a couple of welcome trends.

First, while the 1,623 homes sold last month represented a 30 percent drop from the 2,324 sold in April 2008, it is the highest monthly total posted in six months. The triangle remains strong for those seeking Chapel Hill, Durham, or Raleigh relocation services.

Even better, the number of houses on the market represented a 7.5 month supply, down almost half from a high of 14.9 months in November. April 2008 featured a 6.9 month supply.

The median price for houses sold in April dipped 4 percent, to $177,600, from $184,922 in the same month last year. While a negative number, it’s still much better than the double-digit declines seen across much of the U.S.

The MLS figures, which are supplied by Stacey Anfindsen of research company Metrostudy, cover the Raleigh-Cary and Durham metropolitan areas. The numbers also are broken down by county.

• In Wake County, the number of homes sold dropped 35 percent, to 862. The inventory for sale represented a 7.3-month supply, up from 6.3 a year ago. The median price fell 2.5 percent, to $195,000.

• In Durham County, the number of homes sold slipped 20 percent, to 245. The inventory for sale for each Durham real estate agency represented a 4.9-month supply, down from 5.2 a year ago. The median price rose 3 percent to $170,000.

• In Orange County, the number of homes sold plunged 48 percent, to 57. The inventory for sale represented a 6.5-month supply, up from 5.9 a year ago. The median price fell 11 percent to $258,000.

• In Johnston County, the number of homes sold dips 22 percent, to 173. The inventory for sale represented a 8.9-month supply, up from 8.1 a year ago. The median price fell 5.6 percent, to $150,100.

Durham-Chapel Hill Surges Past Raleigh-Cary For Job Growth Potential

Story from Triangle Business News

The Durham-Chapel Hill metropolitan area has surged past Raleigh-Cary in NewGeography.com’s annual study ranking job-growth potential.

Durham-Chapel Hill soared 24 spots, to No. 19, in the rankings of all U.S. metropolitan areas with at least 30,000 jobs. Raleigh-Cary tumbled 30 spots, to No. 38.

The rankings are based largely on federal job growth numbers for 336 metropolitan areas. Researchers assess the numbers for the current year, the previous year and the previous five years and also compare five-year growth rates over the past decade to come up with a score for each area.

In addition to the overall rankings, the metros are grouped by market size. Durham-Chapel Hill rose seven spots, to No. 4, in the midsize group, while Raleigh-Cary dropped seven spots in the large group, to No. 8, from No. 1 last year.

Joel Kotkin, one of the researchers who put together the rankings, said on his blog that Durham-Chapel Hill offers tax and housing-cost bargains compared to major markets such as San Jose, Calif., and Boston.

Asked why Raleigh-Cary fell, Kotkin said in an e-mail that “It is a drop of jobs that was a bit more than other high-flyers.”

But, Kotkin said, Raleigh-Cary’s job numbers were still relatively solid, especially considering how poor the U.S. economy has performed over the past 15 months. Both areas are still among the most popular in the nation for relocating, and Raleigh real estate continues to sell along with Durham and Chapel Hill real estate.

“In 2008, 2 percent growth made a city a veritable boom town,” Kotkin said on his blog.

“In past iterations, we saw many fast-growing economies – some adding jobs at annual rates of 3 percent to 5 percent,” said Kotkin.

The top city overall was Odessa, Texas. For the complete rankings, go to this page on NewGeography.com.