A Superior Alternative to Property Management Franchises
More freedom, less control, more growth, more money.
What if you could outgrow the local franchise competitors because you had better growth strategies, better branding, a better website, and a better reputation? Would you spend a huge setup fee only to then have to give up your freedom to a corporate office that confined you to a geographic market, prohibiting growth outside it, and then takes a percentage of your income?
We get calls from PM franchisees every month that are struggling, paid a lot of money, are stuck in a contract, and they were never given real resources to grow. Old methods like SEO, PPC/AdWords, Content Marketing, Social Media Marketing are not the fastest or most effective ways to grow. Everyone is doing those...
Entrepreneurs love freedom. Franchises are not freedom. Talk with DoorGrow and learn how to win the game of PM growth and get your business started correctly.
Why Property Management Franchises Might Not Be For You
How would you like to have several businesses with the same name in your own market... some of which have a terrible reputation... that you get to compete with? Franchises are in the business of selling franchises and they eventually hit market saturation and start running out of room.
Your Interests Are Secondary
Ideally, a franchise would be a win-win, but ultimately there will always be instances that are good for the business owner, but that are against franchise rules. Corporate's interest is first and foremost to maintain control and make money... their secondary interest is to keep their franchisees happy and help them (so they continue to make money).
Constraint Instead of Growth
Even after spending tens of thousands of dollars PM franchisees still come to us for help with growth. Why? Because franchises move slowly and try to play it safe before implementing new ideas. By the time they shift their strategies are already outdated. Not only that, but they limit your ability to control your marketing and your website. To make matters worse... If you want to expand into a neighboring town, you have to buy another franchise location... if it is even available.
Diminishing Long-term Return
After an initial couple of years, there is a significant diminishing return on all that money you spend, yet they still require you to give them a significant portion of your profits. We often hear "what are they doing for me now?" The answer after a few years is that they are not likely doing much beyond getting in your way. What if you put all that money towards starting it up right so you were in total control?
They Attract Wantrepreneurs
Entrepreneurs are rare birds that value freedom and want to be in control of their destiny. Everyone else tends to want safety and certainty. We have seen the less entrepreneurial invest in PM franchises, which is probably why so many fail or struggle. From our experience, those that thrive in a PM franchise model could possibly have had a slightly slower start, but their results would have far surpassed what the franchise does. The wantrepreseurs impact the reputation of the franchise as a whole, which generally is not the best in most markets.
The greatest challenges in the PM industry are awareness and perception. Most pm franchises have incredibly unmemorable or generic brand names. This causes a significant decrease in word of mouth leads, the most effective source of new deals. They also often encourage diluting a brand by focusing on several types of management, instead of simplifying it so it has more effective targeting.
Ready for Something Better?
You might be a fit for us... We are looking for the best property managers.
Are you already experienced at managing properties? We can teach you the secrets to going toe to toe with the largest firms in your market and help you win.