News
10 Strategies for Increasing The Profitability of Your SME Commercial Property Consultancy in 2024
2023 Was A Better Than Expected Financial Year For PRE!!
Not bad with reported UK commercial property take up being slow, high interest rates & inflation, supply of suitable space remaining limited, a risk of a recession and week GDP growth with economic downturn, not forgetting transport and trade union strikes…. HERE’S HOW
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Quick recap: although we were slightly lower on our revenue we increased our profit from last year! We did over 200 surveys of more than 8 million sq ft from a mixture of commercial sectors although largely % industrial. Pretty good, when commercial property transactions are down with secondary locations and assets suffering…tenants rising bias to prime?!
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We were laser-focused on our target clients! PropCos, Asset Managers and collaborating with other consultants where best suited (also don’t forget it goes both ways), however not discounting the larger institutions. We made sure and reinforced clients about being multi-disciplinary able to include not only offering Measured & Sustainability but also Building and Project Management! Which gave clients a one stop shop. We had the pleasure of working with the likes of some great clients, you all know who you are, big high five and thank you!
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We eliminated nonessential processes! but kept high quality output and service to clients. Getting feedback from clients and the PRE team highlighted how we could be better and more efficiently. Moving the head offices from South London to Central London Soho, we can be closer to projects and clients. Transport links around outer London, M25 and the southeast.
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Do a great job! Each project has its challenges. Being able to do more than one service line for the same project saves the client on cost and time. 80% of our clients are repeat customers or come through word of mouth as recommendations.
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We built our own tech from scratch! We sat down with a tech company who helped build surveying software tools to drive huge efficiencies across PRE surveyors workflow…. meaning our survey team save 20-30% on projects as before and leverage it to scale up. We built an APP too!
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The PRE Team! Are our bricks and mortar to the company and clients. A good culture is always important to us. Trying to get the right balance isn’t easy. Although from the start we have always embraced flexible working hours and remote working, in 2023 made a decision to move to a better location, nicer offices with breakout areas decent coffee machine, being together as a team has made a huge difference.
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Conduct extensive training. Having taken on apprentices who spend one day a week on their course, this brings in new ideas and relevant CPD for the company to also learn. We’re hiring for a few new roles. Do contact me and perhaps catch a coffee in Soho.
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Our outlook and plans for 2024. This year we are excited to be celebrating 15 successful years in business having founded the company in 2009 producing commercial EPC’s we now have 24 services. Watch this space for celebrations…..We plan to expand cross sell all service lines to help existing and new clients, Measured, Building, Project & Sustainability however still keep our core values, competitively priced, offering a high end delivery with repeat business relationships.
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Sponsorship and Charity. We are again one the main PropSail sponsors on 6th June 2024, this year will be its 5thsuccessful year, with Roxburgh Asset Management and SLR Consultants also being main sponsors. Watch this space for other property club events we plan to sponsor. If you have any other ideas and need help or sponsorship please do get in touch. Charities include Story of Christmas, Ellen MacArthur Cancer Trust and James’ Place to name a few. Do take a look at their websites.
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What’s the Future for UK Commercial Property. Being at the coalface and UK nationwide, we found in 2023 the months very unpredictable. Several UK property consultant research teams are showing 2023 investment volumes by sector at their lowest. Will the general election be in May, November or Christmas and what affect will this for in store for 2024? Plus elections globally this year will see 64 countries (plus the EU) approx. 49% of people in the world. However we are optimistic and believe that this is now the year for opportunities and growth.
Good luck for 2024, Thank you for all the support in 2023 and excited to work together over the next exciting 12 months!!
Do get in touch for a catch up or coffee.
JASON ANTILL MRICS
Founder & Managing Director
