FranchiseVerdict
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FV-01991·STRONGStandard76

Pmi

Formerly known as Property Management Inc.

Real EstateFranchising since 2008Website
Investment
$93K – $166K
74th pct Real Estate
Avg revenue
32nd pct Real Estate
Royalty
5.0%
13th pct Real Estate
Units
408
84th pct Real Estate
SBA default
0.0%
vs <3% typical

Bottom line

  • Total investment $93K – $166K including a $70K franchise fee, 5.0% ongoing royalty.
  • No Item 19 financial performance data disclosed — the franchisor chose not to publish revenue figures.
  • Rated STRONG with a risk score of 54/100. SBA loan default rate of 0.0% across 234 loans (below the industry average).
  • No protected territory and the franchisor reserves the right to compete in your area. Clarify territorial boundaries before signing.

Item 1 · who you're contracting with

The Franchisor

Legal entity
Property Management Incorporated Franchise, LLC
Incorporated in
Wyoming
HQ
2901 W Bluegrass Blvd, Ste. 420, Lehi, Utah 84048
Auditor
Kezos & Dunlavy
Audited financials
Franchisor revenue
$20.2M
Most recent fiscal year

Yale framework · single-unit ROIC

Returns Analysis

Pulls Item 7 (investment) and Item 19 (revenue) from this brand's FDD into the Yale unlevered-ROIC formula. Override any input to stress-test it against your own assumptions.

The model · Yale framework

What would one PMI unit return on the cash you put in?

Revenue · per unit, per year
$
Item 19 not disclosed — typing your own estimate
Franchisor take · royalty + ad fund
Royaltytyp 68%
%
Ad fundtyp 35%
%
Operating costs · category default: generic
COGS
%
Labor
%
Rent / occupancy
%
Other operating
%
Total invested capital · what you actually put in
Initial investment
$
FDD Item 7: $93K–$166K
Working capital
$
FDD reports $4K–$25K

Unlevered ROIC · per unit

83%

Above typical band (30–60%)

0%30–60% Yale band80%

Store EBITDA · annual
$120K
EBITDA margin
16.0%
Total invested
$144K
Payback
14 mo
Unit-level only. A multi-unit portfolio gives up roughly 5–15% of this to shared services (corporate G&A) before reaching the ~10-unit break-even Yale describes.

Overview

About

PMI franchisees operate property management and/or real estate brokerage services, handling tenant screening, rent collection, maintenance coordination, and property leasing for residential or commercial properties. Day-to-day activities include client acquisition, lease negotiation, tenant communications, financial reporting, and compliance with local landlord-tenant regulations.

CEO
Steven Hart
Founded
2008
FDD year
2026
States available
44

Item 7 · what it costs

The Vitals

Total investment
$93K – $166K
All-in to open one unit
Liquid capital
$4K – $25K
Cash you must have on hand
Franchise fee
$70K
Royalty
5.0%
Tiered percentage of Gross Revenue plus flat percentage of Brokerage Revenue · typical 6–8%
Ad fund
2.0%
typical 3–5%
Total fee load
7.0%
vs 9–13% typical

Item 19

Financial Performance

This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.

Item 20 · unit dynamics

The Growth Chart

Total units
408
Opened
57
Last reporting year
Closed
50
Turnover rate
12.3%
Company-owned
0
Corporate units in the system
% franchised
100%
vs corporate-owned
Net growth (yr3)
+1.0%
Net unit change last year
3-yr CAGR
+7.7%
Compounded over last 3 years
2024
406+7
Franchised units
2025
402
Franchised units
2026
377
Franchised units

Year-over-year franchised unit counts and net change. Source: FDD Item 20.

Item 20 · 12 states with active franchisees

The Territory Map

Derived from franchisee contact records. Shows states with at least one current operator — not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).

AK
ME
VT
NH
MA
RI
CT
NY
NJ
PA
DE
MD
DC
WA
OR
CA
NV
ID
MT
WY
UT
CO
AZ
NM
ND
SD
NE
KS
OK
TX
MN
IA
MO
AR
LA
WI
IL
MS
TN
MI
IN
KY
AL
OH
WV
GA
VA
NC
SC
FL
HI
Registered · 12 states
Not registered

States derived from franchisee phone area codes (Item 20). Approximate — ported numbers may show the original state, not the franchisee's current location.

Government records

SBA Loan Data

Aggregated from SBA 7(a) loan disclosures, public data unique to FranchiseVerdict.

Total loans
234
Loan volume
Avg loan
Default rate
0.0%
vs <3% typical · system-wide
5-yr default

FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17

Risk & Legal

54
Risk · 0-100
STRONG54 / 100

PMI presents high financial uncertainty due to absent profitability data, stagnant unit growth, complex fees, and unprotected territory — suitable only for highly risk-tolerant investors who can obtain detailed franchisee references.

Score breakdown · what drove the 54 / 100 rating

  1. 01MINORNo average revenue or net income disclosure (Item 19) — impossible to assess profitability or ROI
  2. 02MINORStagnant unit growth (1.0% YoY) suggests market saturation or franchisee dissatisfaction
  3. 03MINORComplex tiered royalty structure (5% + 7%-5% on gross) with $350/month minimum creates unpredictable cost burden
  4. 04MINORUnprotected territory increases direct competition from other PMI franchisees
  5. 05MINORHigh franchise fee ($69,900) relative to initial investment cap ($92,738-$166,475) limits working capital
  6. 06HIGHGoing Concern flag = False, but lack of transparency on franchisor financial health raises questions
  7. 07MEDMinimal YoY growth suggests mature/declining system with limited scaling potential

Severity inferred from the FDD text · not a regulatory classification

FDD Items 5, 6, 12, 17 · continued from Risk & Legal

Contract & Territory Detail

Territory
Geographic
Protected territory
No
Initial term
10 years
Renewal term
10 years
Online sales rights
Restricted
Franchisor can compete
Yes
Hire a manager?
Allowed
Litigation count
0
Right of first refusal
Yes
Franchisor can buy back on resale
Mandatory arbitration
Yes
Jury trial waiver
Yes
Non-compete
2 yrs
Post-termination restriction
Owner-operator
Optional
Governing law
Wyoming

Item 11

Training & Operations

Classroom training
162 hrs
On-the-job training
110 hrs
POS system
PMiSOFT, PMiWARE, PMiSTR, PMiWorkFlow
Operating tech stack

Item 20

Franchisee Contacts

Phone numbers extracted directly from this brand's FDD Item 20. After purchase, you'll also receive a list of validation questions tailored to this brand.

Franchisee contacts

95 numbers

Locked
(203) 390-••••
CT
(407) 913-••••
FL
(951) 784-••••
CA

One-time purchase · CSV download · Validation questions included

FDD download

PMI · FDD (2026) PDF

Single-page checkout · instant download · CSV export of contacts available separately above