In March 2019, Property Management Inc. celebrated the opening of its 250th franchise location and shows no signs of slowing down. Although only 11 years old, Property Management Inc. boasts a presence in more than 35 states and Puerto Rico and has been recognized by Franchise Gator and Entrepreneur as one of the fastest-growing property franchises. Property Management Inc. is leading the charge as it seeks to become the best in the industry.
The Property Management Inc. team is at the forefront of property management due to exceptional, instant educational resources and management systems provided to potential franchisees and the brand’s unique Four Pillar structure, which allows managers to “cross pollinate” or manage properties of each pillar?association, commercial, residential and vacation rental. The company’s Four Pillars and cross-management approach combine for a competitive advantage whereby Property Management Inc. is reinventing the business model and growing the company.
“That’s how we become a household name: We have a better reputation across multiple sectors than our counterparts and we provide all the best and necessary resources to our franchisees,” said Steve Hart, co-founder and president of Property Management Inc.
Property Management Inc. has its eyes on the prize. The brand seeks to become the largest and most unique property management business in the U.S. With 250 locations, Property Management Inc. is well-established and building impressive brand awareness. Hart anticipates significant growth within the next three to five years, especially in major cities across the U.S.
“We’re close to reaching our goal, but we have to be patient. We’ve already been noticed by Entrepreneur and Franchise Gator as one of the fastest-growing franchises. So we’re poised for growth and should see our goals realized within the next few years.”
Indeed, since 2014, Property Management Inc. has received numerous accolades, from placement on USA Today’s Top 50 Franchises for Minorities in 2014 to multiple Entrepreneur distinctions including Top 100 Franchises for Veterans, 2018 Best Franchises for Any Budget and plenty of smaller honors within the franchise sector.
Property Management Inc. continues to drive brand buzz by bolstering its reputation through the attendance of seminars and national shows including the National Association of Residential Property Managers and Vacation Rental Management Association. The brand provides training events and road shows including manager coaching workshops. Property Management Inc. also hosts Discovery Days at franchise locations in which potential franchisees learn about the opportunity of working with a successful property management company.
“The biggest problem we face is creating buzz. Most people have no idea that property management is a thing,” explained Hart. “But we’re getting our name out there, which not a lot of competitors are doing. It’s one of the reasons we’ve partnered with 1851 Franchise—to help with the building of that buzz.”
Property Management Inc. has done plenty of legwork to make a name for itself by informing potential franchisees of the resources the brand has for both first time and seasoned property managers. However, Hart said, “Property management is a niche that not many people are aware they can franchise within.”
The immense growth the company is experiencing allows Property Management Inc. to expand their system from the ground up, hosting Discovery Days and supporting franchisees by inviting them to work together toward developing marketing campaigns and spreading the word about Property Management Inc.’s exciting franchise opportunity.
“If one of our franchisees comes up with a unique marketing tool, they share it with fellow franchisees,” said Hart. “It’s amazing to see the camaraderie among everyone because, at the end of the day, they all want to be part of something bigger. That’s what we are: a national brand with a great group of like-minded people, all striving to grow the brand and grow among ourselves. It’s through our pillars, our training, our unique franchisees and our growth that we’re making a name for ourselves,” said Hart.
As the company continues to expand, Property Management Inc. is indeed well on its way to becoming a household name.
The startup cost for Property Management Inc. ranges from $21,250 to $106,800, with a franchise fee of $15,000 to $62,900. To learn more about franchising with Property Management Inc., visit here.