Property Management Inc. Closes Out Q1 2023 Strong with a Dozen New Locations and Impressive Revenue Growth

Property Management Inc. (PMI), the property management services franchise, ended Q1 2023 with 12 new units and impressive revenue growth following a major milestone of 400 units at the end of 2022. Even more notably, the brand only had 17 franchisees a decade ago, representing a 2,252% growth rate. 

The franchise signed 12 agreements during Q1 and opened 12 locations in 12 different markets  across 7 states, including in Fresno, California, a new market for the brand. With rental demand higher than ever, systemwide revenue is up 17% year over year. 

“We are off to a fantastic start to 2023 at PMI, and we couldn’t be more excited to keep the momentum going,” says PMI CEO, Co-Founder, and President Steve Hart. “We are so pleased with the growth we saw in the first quarter and feel confident that we are set up well for a great rest of the year. This is only the beginning.” 

Going into the first quarter, the PMI senior management team laid out a one-year plan. One of the key initiatives that were focused on going into the year included revamping the entire training platform. The brand also secured a partnership for a brand new learning management system. 

In a further effort to support growth, PMI has also been conducting an extensive audit of its technology infrastructure in order to identify key areas that it can invest in to strengthen the brand. 

Notably, the franchise also engaged a third party consultant to do a brand study. Once completed, PMI will have a compelling brand roadmap with a clear and concise brand story and messaging that aligns internal culture and values with external brand promises.

“For our brand, this is the first time in our history that we have ever done something like this to this extent,” says Jeremiah Cundiff, Chief Operating Officer at PMI. “We are using the findings from this study to make sure that we are in the best position for growth in the coming years.”

As PMI continues to grow in 2023, it has made several key hires internally. Jared Lewis, for example, was named Director of Marketing, while Stuart McReynolds was hired as a Senior Vice President to lead PMI’s international expansion. 

With these new additions to an already strong internal team, in addition to a powerful property management network and a presence all around the nation, PMI is set up for a successful rest of 2023 and is looking forward to keeping up the momentum in Q2. 

The startup costs for a Property Management Inc. franchise range from $53,225 to $190,050. The franchise fee ranges from $45,000 to $190,050. To learn more about franchising with Property Management Inc., visit https://propertymanagementincfranchise.com/.

About Property Management Inc.:

Founded in 2008, Property Management Inc. is a rapidly growing franchise that provides expert property management services and solutions across 4 pillars: residential, commercial, association and short-term rental management. These four pillars provide the owners behind the brand's 300-plus locations with service options that build value and are unmatched in the industry. PMI’s consistent revenue-generating model has helped hundreds of property managers realize their dreams of successful business ownership. For more information about owning a Property Management Inc. franchise, visit https://propertymanagementincfranchise.com/.