Planning to start a property management business for NRIs.
Including services like property shortlisting for purchase, all documentation for purchase, renting, collection, repairs, fund repatriation and other miscellaneous tasks.
Any feedback whether this idea has a market. Views from all and especially NRIs welcome.
What % NRI have invested in properties in India? Buying property in India is a huge pain in the ass. Wonder if you have done this check before starting your business
NRIs are a headache. Never do service business with them. But they are the best for product based businesses. You can skim them. They will pay top dollar even for a mediocre product. If they tell them it's premium or luxury or organic
Do you mind me asking why do you say service business won't work with them?
Anyway, as a side note, I plan to productize it with 2 or 3 tiers of services package.
Their demands border on unreasonable. The only way to charge premium is by offering a watered down version of the service. When such a version is available, the pricing pressure will be high as local Indians will prefer that. To repeat customer you will then add premium add-ons as free. NRIs are a profitable market but actual market size is in local Indian group.
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