From having a startup idea to launching your own company: professional support is the key to success
Real estate expert Waltraud Bounab has been her own boss since September 1, 2024, when she founded a property management business in Singen that specializes in building, homeowners’ association, rental and condominium management. Her credo is to make her clients’ everyday lives that bit easier by managing their properties cost-effectively, sustainably and with an eye on the future. But Bounab didn’t take the leap into self-employment all on her own – she was supported by Holger Hagenlocher from the Steinbeis Consulting Center Business Start-up.
“Sometimes all you need to make your dream come true is the right timing and the right support”, says a beaming Bounab. She chose the time, while the support was provided by Steinbeis expert Holger Hagenlocher. As the founder recalls, “Mr. Hagenlocher helped me navigate all the highs and lows of starting the business, from the vague initial idea through to the drafting of a carefully thought-out business model”.
The structured planning and meticulously developed business plan were a particularly important foundation for the business’s subsequent success. “People often underestimate the importance of a solid financial basis”, explains Holger Hagenlocher. Together, they drew up a sophisticated financing plan that shrewdly combined equity capital with the Federal Employment Agency’s startup grant. This strategic approach meant that Bounab was able to make the necessary investments in marketing and software right from the outset.
Market analysis and strategy key to a competitive business
“The real estate market is extremely competitive”, says Waltraud Bounab – and with over 20 years’ experience in the industry, she should know. But the detailed market analysis that she carried out with Holger Hagenlocher found that, despite the tough competitive environment, there are still some niche markets with great potential, especially for new builds and when the owners are looking to change their manager.
The SWOT analysis threw up further valuable insights. “There’s no doubt that the biggest challenge was client acquisition”, recalls Bounab. The solution took the shape of a custom marketing strategy. As well as employing traditional tools like flyers and a professional website, the founder makes targeted use of social media and a personal network built up over many years. She also contacts selected property developers, architects and real estate companies to alert potential clients to her services.
A business model built around sustainability
Bounab believes that properties should be preserved for as long as possible and managed efficiently – and these sustainable principles are reflected in her business model. Transparency and diligence are at the heart of everything she does, be it providing support to tenants, producing annual statements or organizing condominium owners’ meetings.
The figures provide a ringing endorsement of this approach. The profit forecast drawn up with the aid of Steinbeis consultant Hagenlocher shows an operating profit even for the first year. “As well as paying the founder’s salary, it was important to us to build up reserves for future investments”, explains Hagenlocher.
A flying start
Starting your own business is like doing a jigsaw with lots of different pieces. Deciding on the right legal structure was just one of the many things Bounab had to think about – business factors meant she initially chose to operate as a sole trader, but with the option of switching to a different structure at a later date. Bookkeeping, selecting the right software, marketing strategies ranging from Google Ads to local advertising – everything was meticulously examined and optimized during the consulting process.
And the strategy has delivered – Bounab is already managing around 30 residential units just a few months after launching the business. “That’s a terrific start”, says a delighted Holger Hagenlocher. “Ms. Bounab is a great example of how the right combination of professional expertise, strategic planning and customer-oriented service can get you off to a successful start.” Waltraud Bounab has plans to grow her business. In the long term, she thinks she can realistically support up to 500 residential units without jeopardizing her high service standards. “It does of course take courage to take the plunge and start your own business”, she concludes. “But there’s nothing to fear as long as you have the right people advising you.”
The Steinbeis experts at the Steinbeis Consulting Center Business Start-up support people wishing to start a business through every stage of setting up a company – from the initial idea right through to successful implementation. With years of in-depth experience in all business startup and business succession matters, the Steinbeis consultants are your professional partners for almost every startup type, industry and target group.
For more information and contacts, visit www.steinbeis-exi.de.
Contact
Holger Hagenlocher (author)
Freelance project manager
Steinbeis Consulting Center Business Start-up (Stuttgart)
www.steinbeis-exi.de
Waltraud Bounab | Immobilienverwaltung