All County by Hon Wong: The Definitive Guide to Real Estate 2024

In a recent interview, Jack spoke with Hon Wong, a franchise owner within the All County Property Management system. Hon shared insights into the property management industry, his experience as a franchisee, and the benefits of the All County business model. For aspiring franchisees interested in real estate, All County Property Management presents an intriguing option.

Why All County? Over 30 Years in Real Estate Management

Hon explained his reasons for choosing All County Property Management, citing the brand’s extensive experience. “All County has been in property management for over 30 years,” he says, emphasizing the stability of the real estate management industry, which centers around an essential need: housing. Hon highlights that All County’s long-standing expertise provides franchisees with a robust foundation, allowing them to build their business confidently.

Additional Support for E-2 Visa Applicants

One unique aspect of All County is the additional training it offers for E-2 visa applicants, who are often adjusting to a new culture and business environment. Hon explains that All County provides not only comprehensive franchise training but also guidance tailored to E-2 visa holders. “We educate franchisees on local cultural nuances and business practices, helping them integrate smoothly into their new environment,” he says. This support compresses the timeline for building a successful business, making it an appealing choice for international investors.

Revenue Structure: How All County Earns Royalties

The primary revenue stream for All County Property Management is a 7% royalty on franchisees’ revenues. Hon breaks down the process: if a property rents for $1,000 per month and the franchisee charges a 10% management fee, All County receives 7% of that $100 fee, amounting to $7. Additionally, franchisees contribute 1% to a national ad fund. This revenue structure ensures a consistent income stream for All County, while franchisees retain the majority of their earnings.

Initial Investment and Ongoing Support

The initial franchise fee for All County is $75,000, with an additional recommendation of $50,000 to $75,000 in operating capital. Hon emphasizes that All County offers continuous support to franchisees, including assistance in obtaining real estate licenses and finding qualifying brokers if required by state regulations. This hands-on support is part of All County’s commitment to helping franchisees succeed.

Understanding the Property Management Industry

The property management industry covers a wide range of services, from long-term residential rentals to short-term vacation rentals and even Airbnb-style rentals. Hon explains that All County does not limit franchisees to any one type of rental service; instead, franchisees are encouraged to assess local demand and offer relevant services. All County provides the necessary training and resources to diversify and expand franchisees’ service offerings based on market needs.

Expanding Opportunities: Sales Commissions and Real Estate Transactions

One significant advantage of All County’s business model is the potential for real estate sales commissions. Hon explains that franchisees often connect investors who are looking to buy or sell properties, facilitating transactions and earning commissions. “It’s like icing on the cake,” he says, noting that this aspect of the business can add considerable revenue on top of regular property management fees.

Focus Areas for New Franchisees

All County encourages new franchisees to start with residential property management, as it provides a stable foundation for the business. Once established, franchisees can expand into vacation rentals and light commercial property management. However, Hon cautions against venturing into industrial management, as it requires specialized knowledge.