Property Management Incorporated (PMI)Franchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
FranchiseVerdict summary · 2026
A Property Management Incorporated (PMI) franchise requires a total initial investment of $102K – $166K, including a $70K franchise fee and an ongoing 5.0% royalty[2]. Per the 2026 FDD, average unit revenue was $65K[2]. Verdict grade: A. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2026 FDD issuance
Overview
- Investment
- $102K – $166K
- 56th pct Real Estate
- Avg gross sales
- $65K
- 0th pct Real Estate
- Royalty
- 5.0%
- 11th pct Real Estate
- Units
- 408
- 64th pct Real Estate
- SBA default
- N/A
Quick verdict · Real Estate · color = vs category peers
Green = >15% above Real Estate avg · No shading = within ±15% · Red = >15% below avg · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
At 0.5x revenue per dollar invested, this system underperforms the typical 1.5-2.5x range.
Bottom line
- Total investment $102K – $166K including a $70K franchise fee, 5.0% ongoing royalty.
- Average unit revenue of $65K/year.
- Verdict A (Top Quintile) with a risk score of 15/100.
- 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
- WY
- HQ
- 2901 W Bluegrass Blvd, Ste. 420, Lehi, Utah 84048
- Auditor
- Kezos & Dunlavy
- Audited financials
Affiliated brands
- have franchised locations in the United States
Other brands the franchisor or its parent operates (Item 1).
Overview
About
PMI franchisees operate property management businesses, handling tenant acquisition, rent collection, maintenance coordination, and landlord relations for residential or commercial properties. Day-to-day activities include tenant screening, lease administration, property inspections, vendor management, and financial reporting. Revenue derives from management fees (percentage of collected rent) and ancillary services like maintenance oversight.
- CEO
- Steven Hart
- Headquarters
- UT
- Founded
- 2008
- FDD year
- 2026
- States available
- 44
FDD Item 7 · 2026 filing · 7 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Royalty | $350 | $1K | |
| National Marketing Fund | — | — | |
| Local Advertising Prepayment | $24K | $24K | |
| Local Advertising Quota | $1K | $2K | |
| Digital Essentials Package | $250 | $729 | |
| PMiBOOKS Bookkeeping Program | $75 | $325 | |
| PMiSOFT Software | — | — | |
| Total initial investment | $26K | $28K |
Line items extracted from FDD Item 7. Ranges reflect the franchisor's stated low and high per line. Total is the sum of line-item lows / highs — actual costs may fall outside this range depending on market and build-out scope.
Single-unit · estimated
Returns at a glance
Indicative numbers using FDD Item 7 / Item 19 inputs and category-benchmarked cost ratios. Full single-unit, 25-unit portfolio, and LBO models (with every input editable to stress-test your own scenario) live on the financials page.
Store EBITDA · annual
$10K
16.0% margin
Unlevered ROIC
7%
EBITDA / total invested capital
Payback
14.4 yrs
cash-on-cash, unlevered
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $102K – $166K
- Near category avg vs category
- Liquid capital req'd
- $4K – $25K
- Better than avg vs category
- Franchise fee
- $70K
- Below avg, review vs category
- Royalty
- 5.0%
- Gross Revenue and Brokerage Revenue · typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 7.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.0% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Technology fee | $729 |
| Transfer fee | $12K |
| Renewal fee | $10K |
| Total fee load | 7.0% of rev |
Financial Performance
- Avg gross sales
- $65K
- Per unit, per year
- Median gross sales
- N/A
- Item 19 type
- Average and Median Revenue
- Sample size
- 408 units
- vs category median 41 · large
- Range (low → high)
- $183→$129K
- Cohort dispersion (min → max)
- Transparency tier
- revenue_only
- Categorical assessment of disclosure depth
- Reporting year
- 2025
- Fiscal year the figures cover
- Transparency
- 3 / 5
- vs category median 0 / 5 · above
Compared against 121 Real Estate brands
Revenue is only 0.5x the investment. This means each unit may take 5+ years to recoup the initial outlay at typical margins.
vs Real Estate averages
How Property Management Incorporated (PMI) Compares
Unit growth
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
3-year detail · Item 20
- Transfers (3yr)
- 4
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 3 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).
States derived from franchisee contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 234
- Loan volume
- N/A
- Amount data pending
- Median loan
- N/A
- Charge-off rate
- N/A
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- N/A
- 5-yr charge-off
- N/A
- Loans approved 2021+
- Active lenders
- 0
- Defaults
- 0
Explore lender portfolios on Bank Reports or regional data on State Reports.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
PMI presents significant caution-level risk due to franchisor going concern status, minimal system growth, undisclosed profitability metrics, and unprotected territories that could undermine franchisee viability.
Litigation (Item 3)
0 case reference(s): 3 pending, 0 settled.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Kezos & Dunlavy
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Must buy proprietary products: No
- Restricted to system-approved products: No
Score breakdown · what drove the 15 / 100 rating
- 01HIGHGoing Concern status indicates potential financial distress or uncertainty at franchisor level
- 02MINORStagnant unit growth (1.0% YoY) across 408 units suggests market saturation or franchisee dissatisfaction
- 03MINORNo Average Net Income disclosure prevents accurate ROI analysis despite $643k average revenue
- 04MINORComplex tiered royalty structure (5% brokerage + 7-5% gross revenue) creates unpredictable cost burdens
- 05MINORUnprotected territory exposes franchisees to direct competition from other PMI units
- 06MINORHigh franchise fee ($69,900) combined with opaque profitability creates elevated financial risk
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 10 years |
| Territory type | Geographic (City, County, or Zip Code) |
| Protected territory | No |
| Online sales rights | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Right of first refusalℹ | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | Yes |
| Jury trial waiver | Yes |
| Governing law | Wyoming |
| Litigation count | 0 |
View Item 3 litigation summary
0 case reference(s): 3 pending, 0 settled.
Items 10, 11
Training & Operations
- Classroom training
- 164 hrs
- On-the-job training
- 112 hrs
- Training location
- Franchisor's facility and on-site at franchisee's restaurant
- Franchisor financing
- Offered
- Item 10
- POS system
- PMiSOFT, PMiWARE, PMiSTR, PMiMULTI
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: PMiSOFT, PMiWARE, PMiSTR, PMiMULTI
Item 20 · call current owners
Franchisee Contacts
4 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Property Management Incorporated (PMI) · FDD (2026) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Property Management Incorporated (PMI) franchise?
The total investment to open a Property Management Incorporated (PMI) franchise ranges from $102K – $166K, with an initial franchise fee of $70K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Property Management Incorporated (PMI) franchise owners earn?
According to Item 19 of the Property Management Incorporated (PMI) FDD, the average gross sales per unit is $65K. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is Property Management Incorporated (PMI)'s franchise failure rate?
SBA 7(a) loan charge-off data is not available for Property Management Incorporated (PMI) (fewer than 10 loans on file). Charge-off rates are one way to gauge franchise risk, but not all franchise loans go through the SBA program. We recommend reviewing turnover and closure data in the FDD and speaking with current franchisees.
How many Property Management Incorporated (PMI) franchise locations are there?
As of their most recent FDD filing, Property Management Incorporated (PMI) has 408 total units in the United States, including 377 franchised units and 0 company-owned units. 57 new units were opened in the latest reporting year.
Is Property Management Incorporated (PMI) a good franchise to buy?
FranchiseVerdict rates Property Management Incorporated (PMI) as a A-grade franchise with a risk score of 15 out of 100, based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
For franchisors
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.