Notes

Property Management Owner's Dilemma: Get Bigger, Stay the Same, or Sell Out?

"There are just two directions; you're either growing or you're dying. There ain't no third direction." (Tommy Callaghan, Sr. in "Tommy Boy")

Business can be a funny thing; the first is never in a position to be satisfied. If Go Here start a company, grow it, and commence to income it, then that's good, right? Isn't that the thought? I thought it was, at least.

However, it truly isn't in case you look at news, watch television, or attend any company group meetings. The things that people wish to mention are:



What are the growth figures with regards to revenue? Projected in the market to 2015?


Is your social media and digital strategy sound? Have you made some time and financial investments?


Have you thought about geographical expansion? Franchise? Office openings?

And and much more as well as on. There apparently is not any downtime allowed! If you sit pat, you're determined to fail. You must reach for the heavens of worldwide domination! The purpose of earning profits is always to reinvest it! Get on it! Get bigger! Now!

So rapid growth is left because only option, unless you need to be considered a "burned-out" property manager. If you choose to pursue slower, organic growth, you may be called "uninspired", a "non-visionary", and lazy. No one writes articles on people who stay the course! Those stories got chopped out at the start of the editing room. But despite many loud naysayers to the contrary, staying a similar is unquestionably a very viable option. It's just the "keeping on, keeping on" strategy. Nothing is wrong with that!

But why don't you consider in the event you are really "uninspired" now? You are burned out! You are a property management company owner (or realtor) who doesn't wish to deal with the company anymore. You are looking to emerge and then sell out. How would you try this?

You could engage a business broker to discover someone that desires to add property management to their property brokerage company, or perhaps wants to own a stand-alone property management company. These instances are pretty rare along with the business broker would truly be earning their cash should they found somebody that will get your smaller firm (under $1M in revenues)!

What is more likely is you would sell your management accounts to a different property management firm. For example, I received a letter yesterday in one with the largest property managers around; this letter was undoubtedly shipped to every property management company in the region. The letter motivated to buy in the property management accounts we'd.

In mergers & acquisitions speak, we were holding by using a typical roll-up technique of buying up every smaller company in your community to accelerate their growth. They had no desire for our systems or procedures; they just planned to throw our management clients inside their management machine. This would be a quick method for these to grow rapidly. It also has to be quick way for "uninspired" property managers to emerge with the business to make some quick money away from their company. A true win-win? Possibly!

To grow, stay, or go- it's a personal decision that shouldn't be the effect of other's expectations. There are solutions whatever your company's technique is!

My Website: http://www.masonre.com.au/