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and what is most effective? A management company
has experience with television, radio, social media and
other outlets.
Sometimes an owner's expectations are too much for
a manager to meet. The owner may be dependent on
a manager with limited skills or lack of expertise. A
manager may feel isolated and not know where to turn.
A management company can improve the working
relationship between owner and manager, if not
directly aid the manager, as well.
A management company can help managers identify
priorities by assessing the owner's goals and
identifying what the manager can do that will have the
most impact. As a result, the owner no longer feels
the need to keep such a close watch, the manager no
longer feels overwhelmed by a long list of tasks, and
tension between owner and manager can be diffused.
WHAT TO LOOK FOR
"A good management company will immediately
offer best practices to increase the effectiveness
and expertise of your management and staff,"
says Pete.
Sometimes, at business meetings an owner and
a manager will talk in circles. The owner will ask
questions, and the manager will respond in abstract
ways. Management companies are interested in
concrete details–in data and numbers. Because a good
management company has experience in the industry,
this information can easily be compared to other
facilities in similar markets.
A good management company meets regularly with the
owner to align objectives and provide financial reports.
"We track each service so that the numbers speak
louder than the explanations," says Pete.
Because the goal of management companies is usually
to manage several facilities, their clients have access
to a network of resources.
Some operators, who wish to consider a management
company, may own facilities that are not making
much money. How can an owner afford to hire a
