This is a business opportunity in a growing segment of Property Management Industry in the absentee ownership of homes located in recreational areas for part time use or rental in operation since 1995. They provide security home watch services, cleaning, key service, year round and, as needed, additional customized maintenance and repair services like, snow and leaf blowing, lawn care, general handyman services. They are accredited members of the National Home Watch Association (United States & Canada).
- Asking Price:
- $525,000 Furniture / Fixtures included
- Sales Revenue:
- $469,321
- Cash Flow:
- $113,040
Property Information
- Premises Details:
-
It is a home based business, as all services are provided at the client's homes. The owner has a shop where he keeps supplies and equipment. A new owner will need to have a similar shop of their own or rent a storage space.
1000 sq ft unit for $600/month plus utilities; expires 2026.
Business Operation
- Expansion Potential:
-
The vacation home ownership trend in recreational areas for relaxing "get-aways" from urban stresses, jumped nationally 57.2%% YOY during COVID years (2020-2021 per the National Association of Realtors). Additionally, increased rental availability in the marketplace from online sources like AIRBNB requires local contacts for check-in and check-out, inspection and checking of customer's homes, cleaning, home maintenance and repair services.
- Competition / Market:
-
The business provides the only service of its kind in the region. IBISWorld Reports that the Property Management Industry is a $114.9B annual industry. Washington State Department of Labor states that the population growth rate in Okanogan County from April 1, 2020 to July 1, 2021 was 1.3 percent, considerably faster than that of the state at 0.4 percent. It seems the pandemic made teleworking an option in 2020 and 2021.
The National Association of Realtors reports that from January to April 2021, the share of vacation home sales to total existing-home sales rose to 6.7%. Vacation home sales jumped 57.2% growth in total existing-home sales nation wide. This sales growth has slowed over time but the surge in the vacation home market necessitates home watch and repair and maintenance services.
- Reasons for selling:
-
Owner has another Opportunity.
- Trading hours:
-
Monday-Friday 8am-5pm
- Employees:
- 3 FT/2 PT
- Years established:
- 28
Other Information
- Support & training:
-
Will train for 4 weeks @ $0 cost.
- Furniture / Fixtures value:
- $55,013 - included in the asking price
- Home based:
- This business can be run from home.
