A property service business plan can take many shapes depending on the nature of the service you provide, whether your company is an existing business, the market in which you operate, and the type and amount of capital support you intend to seek with the plan. If you have an existing business in the property services or property management space, you should be able to describe the company and look in detail at its recent operations. This includes a financial snapshot showing the health of your business in a nutshell, created by combining profit and loss statements and balance sheets from the past 2-3 years in a table and graph. But whether your company is new or not, the business plan will need to answer:
• Who you target for these services
• What your main competitors are
• The sort of properties in your service portfolio
• The staffing levels in your company including hiring timelines, salaries, etc.
• The future services you might roll out
The business plan for a property management service should have a firm grasp on the prevailing market conditions and the projections for the market opportunity going forward. This means knowing your target base by the numbers and the needs, as well as gauging industry performance for the next several years. You will want to give the names, locations, sales levels and projected market shares for each of your top competitors, along with an assessment of their strengths and weaknesses relative to your company. The plan also needs a pro forma financial model that gives the investor or banker an idea of how you will use the funds you get and the likely performance your business can achieve within 5 years. Need more help? Call the experts at MasterPlans today: 877-4553-2011.
