OUTSOURCED CONCIERGE SERVICES
FOR PROPERTY MANAGERS
AN OUTSOURCED
CONCIERGE SERVICE
FOR PROPERTY MANAGERS
With the rising costs of labor and taking into account having to 401K Contributions, Medical Insurance Benefits, Payroll Tax (State & Federal), Social Security, Medicare, Worker’s Compensation Insurance, and other additional associated costs, an In-House Concierge can often cost more than the revenue it may generate for your company.
We recently reviewed a Property Management Company’s “In-House Concierge” Costs. We were able to show them how their operating costs were over $70,000 a year (after salary and above described costs) and that they would have need ed their Concierge to sell almost twice the amount… JUST TO BREAK EVEN!
By partnering with DONE! Concierge Services, instead of having a Concierge Program COST your Property Management Business money, you can start increasing your bottom line by outsourcing your Concierge Services with DONE! Concierge Service. Ask us about with our Revenue Sharing Business Model.
Here is an estimated breakdown of this Property Management Company’s “In-House Concierge” expenses...
| DESCRIPTION |
IN-HOUSE CONCIERGE |
DONE CONCIERGE SERVICE |
| SALARY | $50,000 | N/A |
| 401K CONTRIBUTION (10.00%) | $5,000 | N/A |
| MEDICAL INSURANCE ($300/MONTH) | $3,600 | N/A |
| FEDERAL WITHHOLDING (8.00%) | $4,000 | N/A |
| SOCIAL SECURITY TAX (6.20%) | $3,100 | N/A |
|
MEDICARE TAX (1.45%) |
$725 | N/A |
|
UTAH STATE WITHHOLDING TAX ($0.65 PER $1,000) |
$2,275 | N/A |
|
WORKER'S COMPENSATION ($0.65 PER $1,000) |
$33 | N/A |
|
MISCELLANEOUS BUFFER |
$5,000 | N/A |
| ESTIMATED TOTAL EMPLOYEE COSTS | $73,733 | N/A |
When taking into account Credit Card Processing Fees (Estimated at 3%) and up-lifting any vendor/services invoices, their In-House Concierge would have to produce $481,258 in sold services to BREAK EVEN. That's over $40,000 a month! By partnering with DONE! Concierge Service’s Revenue Share Business Model, you will start earning additional revenue rather than having additional expenses.
