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 is really a funny thing; one is never in a position to be satisfied. If you start a company, grow it, and begin to cash flow it, then that's good, right? Isn't that the theory? I thought it was, at least.
However, it truly isn't in the event you see the news, view tv, or attend any company conferences. The things that people wish to mention are:


What are your growth figures regarding revenue? Projected over to 2015?

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

Have you seriously considered geographical expansion? Franchise? Office openings?
And and much more as well as on. There apparently isn't downtime allowed! If you sit pat, you're destined to fail. You must grab the celebrities of worldwide domination! The purpose of earning money is to reinvest it! Get on it! Get bigger! Now!
So property management doncaster east is left because only option, if you do not wish to be considered a "burned-out" property manager. If you choose to pursue slower, organic growth, you could 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 beginning of the editing room. But despite many loud naysayers to the contrary, staying exactly the same is obviously 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 are actually "uninspired" now? You are burned out! You are a property management company owner (or real estate agent) who doesn't want to deal with the business enterprise anymore. You are looking to emerge then sell out. How would you do this?
You could hire a business broker to find somebody who really wants to add property management for their real estate property brokerage company, or perhaps would like to own a stand-alone property management company. These instances are pretty rare as well as the business broker would truly be earning their if they found someone who will purchase your smaller firm (under $1M in revenues)!
What is a lot more likely is basically that you would sell your management accounts to a different property management firm. For example, I received instructions recently derived from one of in the largest property managers in town; this letter was undoubtedly delivered to every property management company in the region. The letter asked to buy up the property management accounts we'd.
In mergers & acquisitions speak, these folks were by using a typical roll-up technique of buying up every smaller company in your community to accelerate their growth. They had no curiosity about our systems or procedures; they merely planned to throw our management clients into their management machine. This would be a timely opportinity for the crooks to grow rapidly. It also would be a quick method for "uninspired" property managers to move out in the business making some quick money from their company. A true win-win? Possibly!
To grow, stay, or go- it's a personal decision that shouldn't be caused by other's expectations. There are possibilities it doesn't matter what your company's technique is!
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