I love offering listeners fantastic benefits, such as some great discounts for products. These include the PM Grow Summit, website production through Property Managed Website, showing services through Tenant Turner, and more, with new offers coming all the time! You can see a complete list of the current offers at propertymanagementmastermind.com. For all of these offers, use the discount code “Brad” to secure your discount.
In this episode, you’ll hear a fantastic conversation with Aaron Marshall of Keyrenter. If you’ve ever wondered about whether franchising is a good idea or how to get started, this is absolutely the episode for you! Aaron will go into depth about franchises, franchising, the various property management franchises that are out there, how they work, what the benefits are, and much more!
Aaron has been in real estate since 2001, and in property management since 2007. He sold his extremely successful real estate business in May 2013 and started a Keyrenter franchise in December 2013. Since then, he has become an expert on franchising within the property management space, and he shares some incredible wisdom and insight into the realm in our conversation today.
For those just getting into real estate, starting with a franchise can be incredibly helpful. As Aaron explains, he helps people get into the business, set it up correctly with insurance and banking, assists with property management agreements and marketing, and much more. This saves people the trouble of fumbling through it for the first year or two and losing value during that whole period.
Aaron is wonderfully open about the specific costs involved in opening a Keyrenter franchise. There’s no secrecy or vagueness about numbers in this conversation; he’s clear and upfront about what a franchise costs, as well as the reasons that the cost is well worth it.
Tune in to learn much more about all this, as well as how to get started (whether you’re new to the industry or already have a property management business), additional reasons why it can be so valuable to have a franchise, and more. Finally, Aaron will also offer a fantastic deal to listeners, so don’t miss this episode!
Here’s where you can find Aaron:
Show Notes
[01:45] - Brad introduces today’s guest and explains what today’s episode will cover.
[02:58] - Aaron gives us a quick intro to who he is and what he does, as well as how he got involved with Keyrenter.
[05:28] - Why buy a franchise? Aaron answers, then Brad talks about the franchises that he thinks of offhand.
[07:36] - Brad shares a story involving his wife, who gravitated toward a specific brand rather than looking for an individual agent.
[09:06] - We hear about the value of having a franchise for someone who’s brand new to property management.
[12:41] - Brad clarifies some of the specific ways in which Aaron (or a franchise in general) helps with getting started in property management.
[13:38] - We learn about the costs involved with opening a Keyrenter franchise.
[15:28] - Brad talks his own experience with buying a franchise.
[17:07] - Aaron returns to the topic of franchise costs, including the fees involved.
[21:23] - Let’s talk about revenue! Brad talks about the royalty that Aaron has been discussing, and explains how it can be justified.
[23:39] - Are the fees that Aaron has shared consistent across the industry, or are they higher at some companie than others?
[25:22] - Aaron walks listeners through the process of purchasing a Keyrenter franchise.
[29:56] - We hear about the next steps in opening a franchise, which Aaron sees as a mutual interview.
[31:50] - We shift from talking about brand new franchise owners to existing businesses transferring over to a franchise. If you have over 25 doors, Aaron explains, you pay half price.
[34:43] - Is there any sort of exit strategy that Aaron looks at with franchisees as he sets them up from the beginning?
[37:48] - Aaron talks about whether there’s something like a franchise report to help listeners assess different franchises.
[42:08] - Brad talks about the fact that there will always be bad reviews.
[42:47] - How can listeners get in touch with Aaron if they’re interested in getting into a franchise?
[44:31] - Aaron offers listeners a gift: a discount on a review software offered through grade.us. Listen in to hear how you can get your discount!
[47:35] - We hear some final words of wisdom and advice from Aaron.
Links and Resources:
(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)