Archers Property management will be focused on getting property owners that will allow them to manage their property. Once the property owners have allowed the firm to manage their property, they will perform all the property management tasks for an optimal outcome for all involved parties. The property manager will ensure that all the strategies the employee will be beneficial to the tenants, the property owners, and the firm. The firm intends to take a 7% charge for all the collected rents and royalties from the properties for the services offered. This is a standard and competitive fee that will allow the clients to choose the firm. The firms will leverage on its ability to focus on the customers to get more customers.
The consultancy agency has identified a niche in the property management sector. The agency has identified that the individuals with a limited number of properties are having a difficult time with the management of their properties. Most of them have been neglected because they do not have a significant impact on the overall income of the property management agency. It is a viable niche since the people are on the look for extra streams of income while they have their daily jobs, so they do not have time to manage the property. While they need help with the management of the property, they have been sidelined by the property managers who think their property will not be that profitable.
The agency primarily targets the local’s property owners due to its outreach capability. The agency will have to start with the nearby people due to limited resources and the nature of the local approaches that will ideally work in this location. The large p[roperty owners also make up a significant percentage of the target market. It will not be ideal to neglect them. The large property owners will be able to push the agencies brand to a higher level allowing for recognition.
The Archers Property Management will be led by Cherryl Archer Charles who is also the founder of the company. Her skill set and experience places her as one of the ideal candidate for the CEO position of the company. She is currently working at the HCL Group of Companies as the Senior property manager. A position that she has held for the last two years. She has an experience stretching to ten years after working at Long Circular Mall and Trinity Mall as their property manager from 2008 to 2017, Additionally she is also studying Project management Professions (PMP) Certification which will complete in six months. In both positions, she was responsible for the implementation and coordination of the company policy which secures the interest of the shareholders, tenants, patrons and the government. During this period, she was able to identify the priorities of the property owners and gain insight into client requirements. She will, therefore, be focused on the customers need for profit optimization, business growth optimization, maintaining and protecting the value of the real estate and management and supervision of the Maintenace of the property and its security. For the first three years, she will be supported with a staff of nine more people that will be working in other various departments.
Archer Property Management provides a property management solution for all property owners. The firm creates a hassle-free and efficient property management systems by using technology that has automated almost all routine activities of property management. It will ensure that the collection of rent and remitting is as fast as possible. The main company mission is to ensure that we achieve the highest level of customer satisfaction for both the tenants and property owners while maximizing profits for the latter. Additionally, within the company, we will be focused on ensuring that we have created a harmonious environment, cohesive and unit focused on achieving our objectives and goals. The employee satisfaction is also part of our mission as it will enhance the success of the firm and ensure its longevity.
The initial focus will be to get the unlisted properties to the market as fast as possible and expose the properties to the customers. We will then strive to match properties to the tenants that need them according to their preference and financial capabilities. The target market is the local property owners. In simple terms, the Archers Property management and consultancy will be focused in creating healthy understanding relationships and maintain professional commitment to the customer satisfaction overall.
The property management firm has a few factors that will ensure that it is forceful. The business will have
The startup is a property management company that seeks to conduct all the property management activities on behalf of the property owners. The services that will be rendered to the tenants have been outlined in the service section of the business plan. The firm has already started its property management steps. However, the most critical part of the acquisition and development of the property management systems that support online access to the services.
To start the agency their will be some expense that will be incurred to ensure that the business is up and running. The cost will be rent costs, stationery, office equipment and furniture, legal fees, salaries and wages, construction, brochures, and marketing costs. The business will also need to have to pay for the zoning fees and the governmental regulations when they are about to start.
The following is a table outlining some of the costs that will e incurred during the startup of the business
|Stationery fees for the office, equipment, and Furniture|
|Wages and salaries|
|Insurance of the property|
|Construction and maintenance of a few properties|
|Government taxes and regulation fees|
|Purchases of assets|
|Total expenses Anticipated|
The company is started by Cheryl Archer Chares. She will, therefore, own 100% of the firm from the onset. However, with time depending on the financing sources, the firm will be split into several owners depending on the amount if the money that has been given out in the first place. The firm will have one office that will accommodate all the employees in the first three years. However, with time, we will have an office in between three facilities to enhance service delivery to the customers.
The need for the property management is in the constant rise. It is because while people are developing their properties, it is not practical for them to manage the property themselves. It is because while it may be financially rewarding, it also requires a large commitment of time and effort to get the results. An individual may want to devote their time and effort to manage their property if they like the hands-on approach and four they have the time. However, it will limit them and may eventually prove detrimental if they want to grow their business. Due to this, it has created an opportunity for Archers Property Management business idea to start a consulting firm and property management agency form client. Given those conditions, it has provided an opportunity for us to start the agency.
From the outward look, the service provider will be more of a service to the property owners. However, given the services that the firm intends to provide, it will serve all the stakeholders. In this case, the stakeholders will; be the tenants as the rent the property, the property owner who needs the property, the government agencies, and the community at large. However, the property owner will be the primary client to my firms as they are the one paying for the services. The following are some of the services
The business services of the firm are top notch and will ensure that you not only maximize the profitability from the property but also your time. The property managers will take care of that operation of running the features and that will allow the investor to look for other properties to invest. By hiring us, you will also be able to only pay 7% as a service fee. Additionally, the money will be in your account for use immediately after pay as we do not intend to keep the money for a long time. This is cheaper than the money people will use to pay a professional manager.
With time the firm would like to make sure that each department in the company has the opportunity to be independent. This will allow for expansion. Currently, we are also looking for markets and locations that the firm can move their operations and have a chance of conquering. Additionally, the property management firm in the future would like to provide to tenants moving solutions. When they want to move from one house to the next, they can have the firm handle all the logistics for a services
Archers Property Management primary customers will be the small and medium property owners. However, the large property owners are also a target market. Our unparalleled attention to customer needs and high quality of service and efficiency in service delivery will put us above the rest in trying to get the market. The firm will also be mainly advertising to the property owners and the tenants through microtargeting depending on their needs and financial capabilities.
The market will be segmented in according to both the property owners and the tenants. However, the most visible market segmentationn will be distinct in the tenants due to the different incomes and locations. However, the property owners will be charged a flat rate of 7%. The tenants will be charged different rates depending on how many competitors charge their properties and the distance to the social amenities and roads. The different socioeconomic classes will receive different forms of advertisement as the marketing team sees fit to maximize the results.
The consultancy agency has already established a strategic plan for how it is going to get to the customers. We have already established the advertising strategies and tactics that will ensure that we get to as many people as possible within the shortest periods. To achieve that objective the approaches will be extensive and highly rigorous. The marketing approaches will have to be aggressive to ensure that within a short period we have a few clients that will be able to sustain the business as we are looking for more people. The following are some steps and strategies that we will be using to market our services and products to potential customers.
The first market strategy will be to use the marketing approach of man to man and uplcose strategy. This is an approach that will only allow the business to reach a few people. However, since it is a startup, it will be ideal as it is very effective. The approach has a high conversion rate and most of the property owners that will be able to become our customers. That approach is time-consuming but will be able to target the customers. The marketing will be our primary marketing approach because every individual will be able to participate and everyone can try and get the contacts of the people that they know. This strategy also involves direct phone calls to the clients and showing and talking to them about our property management services and what the stand to gain from their collaboration with us.
The archer’s property management and consultancy will focus on the primary identified customers. However, the company will try at all cost to leverage the competitive advantage to ensure the maximum gains. Our main target is to ensure that we use the technological features that will enhance efficiency for the customers.
The main competitive advantage that the firm will 8have is the ability to maintain focus on the customers and enhance customer satisfaction. The competitive advantage will also on the localization and customization of the services delivered which will be ideal for the local property owners. The other property managers have one size fits all systems that sometimes fail to offer the local property owners ideal services.
Due to the reduced cost operations, we will strive to be the cheapest service providers in the market. However, the cost of the property and the houses will be priced competes. This will ensure that the customers are not exploited while at the same time maximizing the revenues from the renting of the houses. The firm will use competitive market pricing with only a few exceptions depending on what the property owner or the customer wants, as long as it fits their specifications.
We depend on the alliances and collaboration from the Oracle Property Management systems. They are the providers of the best property management systems that will help in the efficient property management for the first. They have automated the process. We will also collaborate with the communities and the tenants to ensure that we deliver the services in the best possible manner.
The milestones outline the dates and the activities that we should have achieved b particular dates. The following table outlines the most critical activities
|Milestone||Start date||End date||Budget||Manager||Department|
The management team will Comprise of Cherryl Archer Charles. I have had a passion for property management, and at the moment I have over ten years experience in property management. I have previously worked at the HCL Group of Companies as the Senior Property Manager. As an employee at the company, I was responsible for ensuring that there are implementation and coordination of the company policy which secures the interest of all shareholders, tenants, and patrons for the period I was in charge. As a result, I am fully capable of running and managing a property management firm as I have the necessary experience and skills. At the moment the firm will only have ten employees but as the company grows the company will take on more employees. The firm will have to take on more employees in the R&D and the Marketing department to be able to reach more customers.
Archers Property management firm will run on the organized division of labor and respsonblities to ensure that the firms run efficiently as a diversified enterprise. However, the mani decisions and critical decisions will be made by the CEO Archer Cherryl. The team will be advised and inspired to ensure that they maintain a high quality and cohesive business entity. Even though at the beginning the business will only have ten employees the business will be highly departmentalized with each head of the department given the roles of marketing, finance, strategic management, and research or development. Each will be responsible for each specific team and will collaborate with each other to ensure that the whole operation management is a smooth as possible.
The firm will be run using different departments. The main departments will be the marketing, management, research and development, and finance. Archer Cheryl will assume the role of the CEO and therefore the topo most employees of the firm. Other employees will be spread across the various departments. The decisions will be made by the company mission and vision statements. Every six months the to four employees will sit down and aseess the performance of each employee to determine if they are getting a promotion or salary increment. The management will also be responsible for any conflict of interest that may arise in places where the employees disagree on something.
There are concerns that the business management will have t address to ensure the efficient running of operations. The team will need to have adequate management and administrative support form the managers. It is because the managers have previously worked in business envisionment and rare aware of how things are done. On the other hand, the employees may be fully equipped. The Archer Property Management firm will have to create Dynamic Public Relations to assist in the creation of the business development models. That will involve attending seminars and talks that will help them. The firm needs a strong finance team that will manage the company cash flow. This will be the most important aspect of the organization as we will need an amager who prides proper and accurate information to the management the employees.
The team will be comprised of 10 employees. The compensation will increase by 10% every year to cater for the increase in living costs for our employees. The founding CEO will only take a limited amount of compensation to ensure that the business does not run on losses due to salaries and wages overrunning the total revenues. The following is the table that outlines the employees, the roles that they will be playing and the expected amount of compensation for the next three years. The plan was aimed at showing fairness and experience to meet the commitment to our mission and vision statement. However, there will be an attached detailed monthly personal compensation plan for each employee.
|Personnel||Cash in US dollars|
|Year One||Year two||Year three|
|1. Archie Cherryl (CEO)|
|2. (Finance Manager- COO)|
|3. Marketing Manager|
|4. Research and Development Manager|
|5. Finance Assitant|
|6. Marketing assistant|
|7. Human resource Manager|
|9. Receptionist/ Messenger|
|10. Cleaner/ Driver|