{"id":16415,"date":"2021-07-08T17:42:41","date_gmt":"2021-07-08T17:42:41","guid":{"rendered":"https:\/\/www.growthink.com\/?page_id=16415"},"modified":"2024-02-16T13:29:24","modified_gmt":"2024-02-16T13:29:24","slug":"competitive-analysis","status":"publish","type":"page","link":"https:\/\/www.growthink.com\/businessplan\/help-center\/property-management-business-plan\/competitive-analysis","title":{"rendered":"Property Management Business Plan Competitive Analysis"},"content":{"rendered":"

Property Management Competitive Analysis<\/strong><\/h1>\n

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.<\/p>\n

Direct competitors<\/strong>\u00a0are other property management companies.<\/p>\n

Indirect competitors<\/strong>\u00a0are other options that customers have to purchase from you that aren\u2019t direct competitors. This includes in-house managers or homeowners who manage their vacation property themselves. You need to mention such competition to show you understand that not every income property owner will hire a property management company.<\/p>\n

With regards to direct competition, you want to detail the other property management companies with which you compete. Most likely, your direct competitors will be property management companies located very close to your location.<\/p>\n

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors\u2019 businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:<\/p>\n