November 10, 2017
By Brian Birdy, PMI Vice President
As a veteran of the United States Air Force, I know how the skills and discipline gained in military service prove to be invaluable when going into business after retirement. My second career was building my own property management business, and while it didn’t start out as a franchise, I can clearly see why a franchised business is a wise choice for veterans.
It is reported that 14% of US franchises are owned by military veterans. Franchises are a popular choice because it can be hard knowing where to get started when building a business from the ground up. Franchising provides a structured business plan with established systems and a solid support network providing a clear path to success. In its November 2017 issue, Entrepreneur magazine published a Top Franchises for Veterans list and the top property management franchise on the list was Property Management Inc. (PMI), with over 20% of its franchises owned by veterans. Even though my business was already established and successful, I still saw the value of franchising and chose to bring my business into the PMI network last year. I can only imagine how much bigger and better my PMI Birdy Properties would be today had I started out as a franchise.
Entrepreneur Features PMI Chattahoochee Valley
In the same issue of Entrepreneur, features one of our PMI franchisees, Robert and Radiah Mallard, owners of PMI Chattahoochee Valley in Columbus, Georgia, in Jon Marcus’s article “The Service Industry: Why Veterans Are Flocking to the Franchise World” Radiah served two years in the US Navy and 19 years in the US Army. Robert served 17 years in the Army.
What Makes PMI Property Management Franchises and Veterans a Winning Combination?
It’s no accident that so many successful franchises across the nation are owned and operated by veterans. Many franchising companies offer additional incentives, discounts, and benefits for veteran applicants not only out of appreciation for their service, but because veterans make such effective franchising partners. PMI is no exception, offering 10% off our standard franchise fees to veterans. Even without this financial incentive, a PMI property management franchise is one of the more financially viable options for anyone interested in breaking into a growing and stable industry. Insider Monkey even listed PMI as one of their top Low Cost Franchises with High Profit in 2017.
There’s more to joining PMI’s cutting-edge network of property managers than cost. Fortunately, PMI stands ready to help their property managers become expert real estate managers through in-depth training and education from experts. What applicants need to bring to the table is a commitment to the PMI system and a willingness to learn. Here is where veterans flourish since their military experience has them primed and ready to follow methods and not give up through the usual ups and downs of owning a business.
PMI is Proud to Partner with Veteran Property Managers.
Like any good franchise, PMI strives to empower our franchisees rather than restricting them, giving the opportunity to forge their path into the property management world. Commercial, residential, and association property management are all on the table for veteran PMI franchisees to explore as they carve out their niche in their local real estate landscapes. PMI’s real estate strategies, operating procedures, and dynamic marketing methods aim veteran franchisees towards success, and our support network offers advice and direction when the road gets bumpy. PMI has spent the last eight years building our technology system with automated processes and comprehensive bookkeeping. Don’t worry, we can teach you how to use that too.
“The lessons learned and lived in military service like leadership, teamwork, competitive spirit, mission-orientation, and ambition are the same attributes needed to succeed in business,” says the website of the National Veteran-Owned Business Association (NaVOBA). This rings true to my experience as our veteran franchisees’ strong leadership and commitment to excellence in real estate management has yielded powerful results and helped propel our company to the top of the property management franchising game. More than 20% of PMI’s franchises are veteran-owned, and we look forward to partnering with even more exceptional veteran property managers as PMI continues to expand and think outside of the box to serve our franchisees, property owners, and renters, better than ever before.
