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HOW TO START A ROOMMATE FINDING SERVICEWith the price of rent rising dramatically across the country, single workers are finding it increasingly difficult to maintain the mounting expenses of an apartment or home by themselves. A large number of singles are looking for roommates to share the expense of housing. Sharing an apartment or house not only lowers the monthly expenses, but can bring the rental of a nicer quality apartment within reach. Best of all, a Roommate Finding Service is a business that you can start with an absolute minimum investment. Practically anyone who lives in a city anywhere in the country can expect to do well, and with a bit of imagination you should be able to create a fantastic and satisfying money-making business! This is an ideal absentee owner business. Most of those operating such services on the West Coast have a woman doing the managing; sometimes as just the manager, and sometimes as the owner-manager. This apparently has something to do with the naturally trust people will place in a woman seeking to find the right roommate for them. However, gender is no barrier. Men have been equally successful at establishing thriving Roommate Finding Services. This type of business can be established in a small storefront office, preferably in a neighborhood with several large apartment complexes close by. Small strip-malls that often feature a convenience store, washeteria, and other neighborhood businesses are excellent locations. You'll only need a small amount of office furniture such as a desk and chair, filing cabinet, telephone, several comfortable chairs or a sofa, and perhaps a small counter at which clients can fill out their forms. Decorate the walls with several inexpensive paintings and place some large plants out to give the room a comfortable feel, and you're in business. It is suggested that you charge a registration fee of $15 for those who already have a home or apartment and are looking to take in a roommate to share or defray expenses. You also explain that when a suitable roommate is found, an additional $50 fee is charged. You may wish to take this fee in advance and hold the check for deposit, or take the customer's credit card information and charge this expense when the roommate is found. The new roommates can then arrange to split the cost of the fee between them if they desire. The party seeking to take in a roommate will fill out a card listing or checking off from a list printed on the card the qualifications they are looking for in a roommate: male or female, age bracket, approximate monthly costs, smoker or non-smoker, etc. A brief description of the apartment or house may also be included. This card is either filed in a Rolodex - system or, if a computer system is available, the information is entered into the computer for easy retrieval later by calling for key words or descriptions. When people enter your office who are seeking a new roommate with whom they can move in, you have them fill out a card asking for the same information, but you will charge only the $15 registration fee. You may want to have them fill out the information on a card of a different color than those who have a room to share. This will make it easier to keep track of those with rooms and those without. With all the information, you then go through the records looking for people who might be compatible. As mentioned above, a computer database listing the registration information would make the search much more quickly, but it isn't absolutely necessary. When you have identified several potential roommates who meet the basic qualifications of the current house or apartment tenant, call them on the telephone and give them the name and telephone numbers of those who match their needs. Let them make the calls and discover whether or not the two parties can be compatible. Check back in the next day or two and see if they found a roommate. If so, get both the names, remove them from your open files, and process the finder's fee of $50. Your work is complete. You have made $80 for just a few minutes work! To get started, you'll want to establish a commercial bank account and, if possible, the ability to process charges to your clients' credit cards. This will allow your clients greater flexibility in how to pay for your services, and will allow those strapped for cash to make use of your services that they cannot pay for up front. Have an ample supply of registration cards printed up in two colors, along with a simple business card and supply of business stationary. You'll also need a responsibility disclaimer, which can be combined with the applicant's agreement-to-pay contract. Good advertising will be the most important part in getting this business off the ground. Make up a good circular or flyer detailing your service and listing your phone number and address. Get these flyers on as many bulletin boards in your area as possible. Place them in grocery stores, barber shops, community colleges, beauty salons, bowling alleys - anywhere people needing a roommate might see them. Another idea is to set up "Take One" boxes in as many apartment complex offices as you can. Many managers will find your service to be an aid in renting larger, more expensive apartments. Don't overlook the value of placing your flyers on car windshields - particularly around apartment complexes and in the parking lots of area colleges. You might even pay the downtown parking lot attendants to slip one under the windshield wiper of each car he parks on a Monday. If you do a good job with the make-up of your flyer, and use your imagination in getting them into the hands of your prospective clients, you'll have no trouble moving your new business into the black quickly. You will also need to run regular ads in your area newspapers. The best headings to run your ads under is the Personals or Roommate Wanted column. Your ad might read, "Need A Roommate? We'll find the ideal roommate for you! Everything handled on a strictly confidential basis. For details, call Jan, Mary or Carol, 123-4567." In the final analysis, once you have your business under way, your further success will
be limited only by your imagination. You could run the entire operation by telephone to
cover a larger area or several cities, accepting payment solely by credit card. The ball
is in your court. Take this basic idea and turn it into your personal success story. Good
Luck! |
