29 Nov 2013
Words Alex Cook

An evening with the experts

On Wednesday 13 of November the first in a series of educational events took place at Hirum HQ in Arundel. Resort Brokers Australia teamed up with other key industry professionals to run the inaugural ‘Management Rights Made Easy’ seminar. Dubbed ‘An evening with the experts; How to get ahead when purchasing a management rights business’, the event was aimed specifically at newcomers to the industry and those looking to purchase management rights for the first time. The intention was to give potential buyers the tools to understand the industry and to help them make the right decisions. The response to the event was fantastic; a quick tally of registered attendees on the morning of the event indicated an audience of nearly 60 people. What a testament to the always increasing strength of the management rights industry, particularly on the Gold Coast! In order to provide a complete industry overview, all the main areas of managements rights were represented by a leading industry professional. Mike Phipps Finance, Holmans Accountants, Pevy Lawyers, Real Estate Mastery, Hirum and Herron Todd White were all on hand to provide invaluable information and advice. The evening took the format of 4 key addresses, followed by a Q&A session. Mike Phipps opened up with a brief history of the industry, followed by a detailed run-down of the financial/lending position of management rights today. Trent Pevy followed up with a thorough dissection of management rights from a legal perspective. Tony Rossiter provided an insight to establishing the best business structure and interpreting P&L’s. Alex Cook rounded things up with an explanation of the broker’s role and an overview of current market conditions. Following the presentations (and a few drinks), the four speakers were joined by Tod Gillespie from Herron Todd White for the eagerly anticipated Q&A session. The panel received a series of thought-provoking and well thought-out questions from the audience, keeping them on their toes until the final word. The only draw back of the evening was that that had to end….there were still plenty of questions on the floor! Thank you to all those who attended and for your positive feedback. We appreciate your time all delighted that you found the evening of use. The next Gold Coast management rights seminar will be taking place in late-February or early-March. RBA will also be running management rights seminars in other key locations, as well as motel seminars. For more information, please keep an eye on www.resortbrokers.com.au