Property management franchise

[Robert Oramas]

Is purchasing a property management franchise a lucrative business? I am looking to transition from another career not associated to real estate. I will be getting my real estate license because it is required.

[Nathan Gesner]

There are very few franchises in property management and I don't know of any that are really worth the cost. I looked into one several years ago just to help grow my existing company. They wanted $45,000. For that price, I could hire two assistants to free up my time to develop my business on my own. 

You're better off growing your company organically. If you're in a decent-sized market, it shouldn't take much to develop a successful business within a couple years. I know some people in Billings, MT that bought an existing company with 75 doors and they grew it to over 400 within four years and they did that one owner at a time with no big marketing scheme or anything.