Real Estate Project Manager
2 months ago
- 401(k)
- Bonus based on performance
- Competitive salary
- Dental insurance
- Employee discounts
- Health insurance
- Opportunity for advancement
- Paid time off
- Profit sharing
- Vision insurance
Location: Remote, Serving East Coast USA
Position Overview: The Real Estate Project Manager for Perspire Sauna Studio plays a pivotal role in overseeing, driving and managing the real estate operations and expansion strategies for Perspire Sauna Studios network of franchise locations. This role involves developing and executing real estate growth plans, collaborating with franchisees, managing lease negotiations, and ensuring the successful execution of real estate initiatives that align with the company's business objectives.
Key Responsibilities:
Real Estate Strategy and Planning:- Implement and help drive a comprehensive real estate growth strategy that supports the franchisor's expansion goals and market presence.
- Identify and evaluate potential real estate opportunities for new franchise locations, considering market trends, demographics, competition, and feasibility.
- Work with Franchise Development team lead to maintain and (evolve as needed) territory mapping strategy.
- Create, territories, based on real estate market and total # of stores within a given geographic metropolitan area, identify new target markets as markets grow and ensure prevention of cannibalization.
- Ensure the internal territory mapping system has all territories kept up-to-date and properly labeled at all times.
- Franchisee Collaboration:
- Work closely with franchisees to teach the brands real estate needs, preferences, and requirements for specific locations.
- Provide guidance and support to franchisees during the site selection process, assisting them in evaluating potential properties and lease agreements.
- Engage in weekly meetings with franchisees and Master & Local Brokers and help drive the franchisees progress with execution of Letters of Intent and Lease Signings.
- Site Selection and Due Diligence:
- Conduct thorough market research and site analysis to identify optimal locations for new franchise units, ensuring they align with the brands positioning.
- Perform due diligence on potential sites, considering factors such as visibility, accessibility, foot traffic, and local regulations.
- Work closely with multi-unit franchisees to help them ensure they meet or exceed their targeted development schedules.
- Lease Negotiation and Contract Management:
- Review and analyze LOI and lease agreements to ensure compliance with company standards and legal requirements.
- Market Analysis and Trends:
- Stay current with real estate market trends, economic factors, and industry developments that could impact the franchisor's real estate strategies.
- Financial Analysis:
- Evaluate lease rates and take into account franchisees proforma and projected assumptions.
- Relationship Management:
- Build and maintain relationships with real estate brokers, landlords, developers, and other industry professionals to continuously build a pipeline of potential locations.
- Work closely with internal stakeholders including Franchise Sales Team, legal and construction to ensure companys goals are being achieved in an efficient and ethical manner.
- Continuously seek out opportunities to promote and sell the Perspire brand to these critical partners, keeping the brand awareness high for these key partners.
- Reporting and Communication:
- Provide regular updates to senior management and key stakeholders on real estate initiatives, progress, challenges, and opportunities.
- Provide regular updates to senior management and key stakeholders on real estate initiatives, progress, challenges, and opportunities.
Qualifications and Requirements:
Bachelor's degree in Real Estate, Business Administration, or a related field.- Experience in real estate management, site selection, and lease negotiation, preferably within the franchising industry.
- Strong understanding of commercial real estate trends, property evaluation, and market analysis.
- Excellent negotiation, communication, and interpersonal skills.
- Project management skills with a focus on achieving milestones within set timelines.
- Familiarity with legal and regulatory aspects related to real estate and leasing.
- Ability to travel to various locations as needed.
- Strategic thinking, problem-solving ability, and a results-driven mindset.
- Real estate license is a plus.
- This position is remote. Position requires development of eastern U.S. with requirement to travel as needed to visit with franchisees, real estate agents/developers and industry events as needed.
This is a remote position.
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