“Everything we do today
must have a much larger play for the future.”
PKE Enterprises Inc is a shared use real estate property management company. It is at the forefront of developing and expanding shared use real estate concepts that lower market barriers for entrepreneurs, while increasing market real estate returns by more than double.
Kevin Echevarria is the CEO of PKE Enterprises Inc. He does a little bit of everything in the company, but for Echevarria, it all comes down to making deals. He is constantly meeting with entrepreneurs looking to use the company’s platforms while continuing to push the limits within their organization to create growth. Echevarria’s background is simple. At 18 and with no experience, he ventured into starting a vending company, which led him to where he is today.
(Photo courtesy of Kevin Echevarria)
What has been the biggest challenge you have had in your business?
“In the early days of PKE, we ran a restaurant. We did this for six years. It took three years to create a baseline from which we could scale from. The business was keeping itself afloat and netting a small return. Unfortunately, I began to realize that we had a concept that was extremely cash intensive to scale. Financially, this was a nightmare. How do I, as an owner, justify working 80-100 hours a week, work holidays or get married on a Monday because I didn’t want to miss two weekends in a row of work. I was simply continuing to put the business before everyone and everything, when in reality, the chance of this restaurant become something much bigger was a challenge I wasn’t willing to take on any more. I did not want to be the guy that financially got stuck running a business. We needed to grow.”
What have you implemented to overcome that challenge?
“We financed the sale of the restaurant, which helped us realize a nice return for the work we had done. Then we relaunched with one simple goal in mind, ‘Everything we do today must have a much larger play for the future.’ This ensures that although the business will be placed before everyone and everything, it’s being done because we will have a true financial return on the sacrifices we make today. My whole life I was told one thing, ‘Hard work pays off.’ Experience showed me that you have to be smart about it.”
What are the results after you implemented your solution?
“We sold Delicia Tropical Cafe in November of 2012. We relaunched in 2013. The second investment we tackled, Shared Dream Kitchen, has grown from one location to four, with over 40 members in the northwest Chicago suburbs. In fall of 2015, we launched an MVP (Minimum Viable Product) model of a co-working office solution called Envisage Coworking, and next month, we are unveiling our MVP model for POP-Up rentals called Local-Vore. Everything we do now has the ability to prove itself regionally, which will then help us with a national growth strategy.”
This article was written by Michelle Guilbeau of Examiner.com for CBS Small Business Pulse.