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Real State And Property Management: What Are First Service Brands?

792 words - 4 pages

The real estate and property management industries are immensely large in terms of revenues and volume of corporations. The industry tends to be cyclical, and highly impacted by recession. The entire industry felt a large trough during the mortgage crisis beginning in 2007 through the recession of 2009. Many companies couldn’t continue operations leaving more opportunity for expansion and acquisition for those that did survive.

First Service Corporation is one of those companies that survived the recession, consumer spending is continuing to grow as the US economy recovers, pumping funds back into the market. Globally, they are one of the more well known companies in the real ...view middle of the document...

in the last year alone their revenues have grown 14% from 1.17 bil to 1.32 bil. This subdivision produces more revenue than FirstService Residential and FirstService Brand combined. Their recent growth can be attributed mainly to expansion in Europe and Asia while slightly less substantial growth came from a few small acquisitions. Their growth being nearly balanced between internal expansion and acquisition indicates their management is efficient and that they have been adding clientele to their portfolio by buying up smaller firms.

FirstService Residential manages residential communities while using tactics based on years of experience to assure satisfaction of residents of properties of all sorts and sizes, including low and mid rise condominiums, large communities, luxury high rises, and active adult communities. This subdivision of FSRV also includes American Pool Enterprises, one of the largest recreational facility management operators in North America. Including APE in their platform keeps their money in the company rather than hiring and paying others. FirstService Residential revenues grew to $884.3mil, up 9% from the 2012 fiscal year. Of that 9% growth, only 1% could be attributed to acquisition leaving the other 8% tied to internal growth. Growing internally as they did shows that their management has been on the right track with their finances.

FirstService Brands consists of multiple internal companies : California...

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