Notes

Property Management Owner's Dilemma: Get Bigger, Stay the Same, or Sell Out?
"There are simply right here growing or you're dying. There ain't no third direction." (Tommy Callaghan, Sr. in "Tommy Boy")
Business is a funny thing; the first is never allowed to be satisfied. If you take up a company, grow it, and commence to earnings it, then that's good, right? Isn't that the thought? I thought it was, at least.
However, it truly isn't should you browse the news, watch television, or attend any company group meetings. The things that people need to mention are:


What will be the growth figures with regards to revenue? Projected to 2015?

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

Have you considered geographical expansion? Franchise? Office openings?
And so on and also on. There apparently isn't any downtime allowed! If you sit pat, you're going to fail. You must reach for the stars of worldwide domination! The purpose of earning profits is to reinvest it! Get on it! Get bigger! Now!
So rapid growth is left because the only option, if you don't desire 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 business people who stay the course! Those stories got chopped out early in the editing room. But despite many loud naysayers to the contrary, staying the identical is unquestionably an incredibly viable option. It's just the "keeping on, keeping on" strategy. Nothing is wrong with that!
But why don't you consider in case you really are "uninspired" now? You are burned out! You are a property management company owner (or realtor) who doesn't need to deal with the business enterprise anymore. You are looking to escape then sell out. How would you make this happen?
You could employ a business broker to locate somebody who would like to add property management to their real-estate brokerage company, or maybe wants to own a stand-alone property management company. These instances are pretty rare along with the business broker would truly be earning their funds if they found someone who will purchase smaller firm (under $1M in revenues)!
What is more likely is that you simply would sell your management accounts to a different property management firm. For example, I received correspondence the other day derived from one of from the largest property managers in town; this letter was undoubtedly delivered to every property management company in your community. The letter motivated to buy up the property management accounts there was.
In mergers & acquisitions speak, we were holding utilizing a typical roll-up strategy of buying up every smaller company in your neighborhood to accelerate their growth. They had no interest in our systems or procedures; they just planned to throw our management clients inside their management machine. This would be an easy means for these to grow rapidly. It also would be a quick way for "uninspired" property managers to get out from the business to make some quick money off their company. A true win-win? Possibly!
To grow, stay, or go- it's actually a personal decision that mustn't be the result of other's expectations. There are solutions regardless of what you and the company's approach is!
Here's my website: https://files.fm/f/7jdyn5b2b