How do I start a estate/property company?

How do I start a estate/property company?


Whether or not you have prior experience or knowledge in the sector you plan to start a company in, your first step is to do extensive research.

It is always advisable to develop a business plan which will force you to define your business concept and gather information about the sector as well as your business requirements. Do you have a basic idea of what it is that the business will do? Once you have refined the business concept you need to spend a significant amount of time doing research.

Your research around the business concept should focus on these six areas:

  • The Industry: Gaining an understanding of the dynamic forces affecting the industry in which the business will operate.
  • The Market: Research the preferences and characteristics of the customers you are targeting.
  • Competitors: Getting insight into the quality and quality of competitors in the market in which you plan to operate.
  • Collaborators: Researching and understanding who you could work with/ partner with in launching the business.
  • Your Product or Service: Investigating how your product or service will be created and delivered and whether it will be truly unique.
  • You Company Model: Gaining insight into the options around a profit and operating model for the business.

There are many sources you can use to find this information, some of which include:

  • The Internet
  • Industry experts
  • Suppliers
  • Competitors (become a customer of the competitors)
  • Survey customers
Entrepreneur Magazine is South Africa's top read business publication with the highest readership per month according to AMPS. The title has won seven major publishing excellence awards since it's launch in 2006. Entrepreneur Magazine is the "how-to" handbook for growing companies. Find us on Google+ here.