AvenueWest Northern Colorado Franchise Success Story
Northern Colorado Franchisee Experiences Positive Cash-Flow in Six Months; Meets High Demand for Furnished Housing in Ft. Collins and Surrounding Cities
As a long time residential real estate agent, Deb Salek knows all too well the hard work and long hours it takes to run a business. She worked every day, including weekends, helping her clients buy and sell homes. Her husband, Todd, too, knew the virtues of hard work. He spent 13 successful years in the sales industry.
Although at the surface Deb and Todd were successful, both say they felt they had more to give and were seeking new opportunities in their careers. They desired to own a business that could support their family, give them a stable lifestyle, and thrive long after they’ve retired.
“As a real estate agent, I only earned income when I worked,” says Deb. “When looking for a new business venture, I wanted something that would have longevity, and one that offered a repeatable and sustainable revenue stream.”
Committed to finding a new career path, Deb discovered the possibilities of becoming a franchisee of AvenueWest Managed Corporate Housing (“AvenueWest”) after reading about AvenueWest’s CEO, Kimberly Smith, in a magazine, and later meeting her at a networking event.
“AvenueWest sounded too good to be true! It offered all the things I desired in a career, including the opportunity to own my own business, build something I could eventually pass on or sell, and allow me to work more traditional hours so I could spend more time at home with my children,” says Deb. “Plus, AvenueWest fit nicely into my repertoire, enabling me to still pull upon my years of real estate experience, yet explore a new avenue within my niche.”
On November 1, 2013, the Saleks officially opened an AvenueWest franchise in Northern Colorado (4025 Automation Way #F2, Fort Collins, CO 80525).
Deb says that she likes how she didn’t have to “recreate the wheel,” as AvenueWest provides a clear path to business ownership without all the hassles that come with a startup. She says she also likes that the brand has already built trust, recognition, and a track record of success in the corporate housing industry.
Even though AvenueWest offered a path to success, Deb and Todd say they knew it would take hard work and time to grow it into a thriving, sustainable business.
“Almost immediately upon opening our doors, AvenueWest began sending us housing requests, yet we had no inventory to fulfill those requests,” says Deb. “That’s when we knew we had to get resourceful if we were going to succeed.”
To meet the “pent up demand” for short-term, furnished housing in Northern Colorado, Deb and Todd leased several local apartments and furnished them. Little did the Saleks know that the apartment buildings would soon become their top source for new client leads!
Another source of client leads came from insurance companies. Deb says that corporate housing can help people who have been displaced from their homes.
For example, when lightning struck the home of a Berthoud, CO family, an insurance company approached AvenueWest in Ft. Collins, asking them to find a short-term, furnished rental for their client.
Because of the housing shortage plaguing Northern Colorado, Deb says she knew finding this family temporary living quarters wouldn’t be easy.
“We didn’t have any properties under management that met this family’s specific size and location needs,” says Deb. “Rather than turning the insurance company away, we got resourceful. We contacted a builder in Loveland about leasing one of his new apartment suites so we could furnish it and use it as a short-term rental for the Berthoud family. He agreed. We were able to help this family during a time of crisis and that felt great!”
Success At Last!
By the end of their first six months as AvenueWest franchisees, Deb and Todd say they have become cash flow positive and currently have more than 50 properties in inventory.
“We are very proud of how fast and confidently Deb and Todd have grown the AvenueWest brand in Northern Colorado. They have become one of our most successful franchisees in only one year. We look forward to continuing our relationship with this dynamic duo, and to proudly serve the corporate housing needs throughout Northern Colorado,” says Smith.
AvenueWest has become a full time career for both Deb and Todd (both left their day jobs), and they both agree that their earning potential far exceeds their previous career paths.
While 2014 was a fast-growth year for AvenueWest Northern Colorado, Deb says she knows she still has a lot of work to do. She says she would like to reach an exciting milestone of 100 properties in inventory within the next two years.
“Northern Colorado is an in-demand region for both residents and businesses. We can only hope we are in a position to help all the clients that come our way in search of furnished, temporary housing,” says Deb.
About AvenueWest Northern Colorado
Since 1999 AvenueWest has been providing award winning service and exclusive furnished corporate housing properties. The company is focused on hands-on customer service and high quality rentals to meet the housing needs of both the experienced business traveler and also the discerning traveler on a budget. Fort Collins is a rapidly growing city with an award winning quality of life. AvenueWest Northern Colorado strives to connect clients with the short-term, furnished housing they need in Old Town, Southeast Fort Collins, North Fort Collins, Midtown, Water Valley, Centerra, Loveland, Windsor, and Greeley.