Franchise Friday Podcast episode 218 with Debra Cohen of Real Property Management

In episode 218 of Franchise, Friday Melissa Pang interviews Debra Cohen of Real Property Management

As a college student, Kirk McGary had a choice: take a part-time job with some friends involved with property management or work in fast food—Kirk chose property management. A few years later, after starting a successful career in accounting and software development, Kirk started a property management business, which grew over the next fifteen years and became increasingly successful.

Kirk then partnered with another entrepreneur named Doug Oler, who had extensive business experience managing multi-unit companies. They decided to share Kirk’s property management success with others and together launched their first Real Property Management franchised office in 2005.

Since then, hundreds of entrepreneurs have joined the RPM organization and opened more than 300 locations throughout the United States and Canada. Along the way, RPM has refined systems and processes, added new technologies, built best-in-class training systems, and created first-class marketing tools. Today, the Real Property Management franchise organization is the largest property management organization in North America.

Melissa noted: What fascinates me is that you went from entrepreneur to franchisor, essentially entering the franchising space. And a lot of times when we’re talking to candidates or talking to clients, they’re looking at options. And one of the options is a startup. One of the options is franchising.  What you said was you know what you were good at, you know what you liked to do. And you outsourced and found other people and experts to take on the other parts of the business you weren’t good at. And then you love helping people. And I think that all translates beautifully into the franchising model. However, this is a whole new world. Many candidates are being introduced to franchising for the first time, and they’re putting up a lot to invest. They’re investing time, energy and resources, including money. There’s some risk involved. We don’t want to forget about the fear they may feel.  From your perspective, from solopreneur to franchisor, what is what attracted you to franchising?

According to Debra: Eventually, I decided to sell my home improvement company and potentially retire. But I got bored very quickly and found Neighborly.  And they really encapsulated everything I had loved about my own career … working with entrepreneurs, helping them launch businesses, home improvements, real estate, and it’s just put it all together. But the bow on the package was that I wasn’t doing everything alone. In franchising, you’ve got teams of people who handle marketing, technology, and coaching and in my own company, I was doing all of that alone. So now I’m part of a team who supports me in doing what I love. And I’ve been with Real Property Management for three years recently promoted to team lead. I run the Franchise Development Division and absolutely love what I do.

“I know what it’s like to do it on your own. And I know what it’s like to do it with and without support. And I can speak to both. And I would say that there are people I talk to you who are diehard entrepreneurs who aren’t willing to follow a franchise system. And sometimes some of our best franchise owners have thought, I’ve been an entrepreneur; I know what I’m supposed to do. And I’m going to do things my way. And then they pivot and say, Okay, I hit a wall. And now I need to start following systems and rely on other people. I think that my experience prior to joining a franchise gives me a unique perspective. And it also gives me a tremendous amount of empathy. Because I know the stress of starting a new business, putting your savings on the line, and investing in yourself.  Stepping away from a career and a steady paycheck, I know what that takes and it gives me a very unique perspective with my candidates.”

When you own a Real Property Management franchise, you’ve got a team by your side.

We support you with innovative systems and processes, professional marketing, volume purchasing power, comprehensive training, and a passionate support team. Combine this with the strength and power of a national brand and the largest network of peers in the property management industry, and you’ll be ready to start strong — and continue to grow.

Debra’s Bio:

Before I joined Real Property Management, I was what people call a “mompreneur”. After the birth of my first daughter, I left a successful career as VP of a global aviation magazine for a less glamorous pursuit – motherhood. Over the next six months, I developed a business plan and launched Home Remedies® a Homeowner Referral Network (HRN) that pre-screened and referred local home improvement contractors. My business capitalized on my passion for home improvements and real estate and afforded me the opportunity to stay at home and raise my family while having a successful career. After my first year in business, other entrepreneurs took notice of my success and were interested in starting a business like mine. I decided to document all of the “how-to’s” in a comprehensive business manual and marketed it along with Business Packages worldwide to other prospective entrepreneurs looking for a viable home-based business. Before I sold my business in 2010, I helped launch more than 1000 businesses globally and my company grossed more than $4M in sales I graduated cum laude in 1989 from Union College in Schenectady, NY with a BS in Psychology and Spanish. My husband, Charles and I live in NY on Long Island and have two daughters, Emily (28) and Sophie (25).

More About our Host, Melissa Pang