If you are looking for a pathway into the world of business this year, there are probably some industries that you have put more consideration into than others. One corner of the business world that many startup business people often write off is property.
In this post, we are going to be looking at why you should never write off starting a business in property, and then we are going to be looking at a couple of startup suggestions you may wish to consider for your new business.
Why Business People Ignore Property for Startups
Well, to answer this question, we don’t need to look very far. Most business people who are heading into a startup don’t usually have a whole lot of collateral. Now, while it used to be the case that you would require a whole lot of money to get you into the property industry, in today’s world, that just is not the case.
The modern world has given so many opportunities when it comes to new businesses entering the world of property; you would actually be rather silly not to consider creating a business that revolves around it.
One of the most popular routes into property for many newcomers is property management. Starting a business like this can generally be done from a home office and has very low start-up costs.
If you are unfamiliar with property management companies do, they would generally find a tenant for a rental property and put them through their paces before allowing them to move in. Once the property is occupied, you would take on the maintenance and repairs of the property on behalf of the landlord for a percentage of the rent.
Most companies like this usually work with subcontractors like GPE Electrical and Communications Contractor Pty Ltd for electrical work and many others that carry out other works on the property.
Starting a company like this can be highly beneficial for a startup and is certainly something that should be considered for a low cost, high return option.
Over the last decade, it seems more and more startups are looking at home staging for their first business, and it’s not difficult to see why.
If you are unfamiliar with the process, when an investor flips a house and wants to sell it, they often want to show a house with furniture inside. Rather than buy all of the furniture themselves, they tender out a contract or work closely with a home staging company.
While the startup cost is slightly higher than it would be for property management, you can generally charge investors a small percentage of the final sale price or even arrange a permanent contract with them and provide a service to them for every property they buy and sell.
While this post has only shown a couple of options, hopefully, it has made you see that if you are starting your own business, getting into property isn’t as tough as you may have thought.