Founded in 2008, Property Managment Inc. is a rapidly growing franchise that provides expert property management services and solutions across 4 pillars: residential, commercial, association and vacation rental management.
The property management business is an exciting and rapidly growing industry. More than one-third of all Americans currently rent homes and property owners need professionals to manage their properties. As you can see at the bottom of the page, the market size for the four categories (or pillars) that make up the property management industry is huge. PMI is the only franchise that has systems, technology, support, and training set up to help you run each pillar (depending on which area of focus you choose). As you consider property management in your future, here are a few reasons why you should own a PMI franchise.
Starting your own business is a daunting task. There is always more to learn and do, especially if it is an industry with which you aren’t familiar. Statistics show that 80% of all businesses fail in the first 5 years. In contrast, 96% of all business format franchises succeed. When entering the property management business with a PMI franchise, you will have the systems, support, technology, coaching, tools, and marketing to hit the ground running.
Systems are the secret to growing a sustainable and profitable business. PMI has its own franchise (PMI Utah) with which they test systems and technology before they roll anything out to all PMI franchisees. Today, PMI has 250+ franchisees in 43 states and growth is accelerating at a rapid pace.
A well run property management business will increase in value over time if built correctly. PMI teaches its franchisees the systems to build long-term equity. When considering which business to build, a key consideration is the long-term equity within the business.
Building a property management business within a defi ned territory is a tremendous value to you. It is diffi cult to run a property management business that is far from your base of operations, especially when you consider inspections and maintenance.
A good property manager can manage between 25-30 doors. It is difficult to manage more than that without great technology and efficient systems. With a PMI franchise, you’ll be taught 50+ revenue streams and can manage 100-150 doors without having to hire additional help. Efficient systems will help you do this more effectively. Many property managers get trapped into only doing what other competitors in their space are doing.
$27.5 Trillion, U.S. Market Size
$11 Trillion, U.S. Market Size
(Business Insider, 2018)
350,000 Associations, U.S. Market Size
$100 Billion, U.S. Market Size
(Leisure Link, 2018)
Making Property Management Manageable