iTrip Vacations® Orlando Builds Successful Franchise
Dan and Karen Wachter – owners and managers of iTrip Vacations® Orlando – have been married more than 30 years and have successfully been building their franchise business since 2009. The Orlando vacation property management company started when Dan grew tired of his corporate life in the manufacturing industry.
Meet iTrip Vacations® Orlando Property Management Owners
“I worked 23 years in corporate America for Fortune 500 to Fortune 50 companies in positions including operations and managing manufacturing plants,” Dan Wachter says. “I was growing tired of corporate life and the lack of stability that exists in senior-level positions, so I made a significant life change and became an entrepreneur.”
Over the years, Wachter looked at several self-employment opportunities, including non-franchise and franchise-based businesses. Eventually, he decided to pursue a franchise due to the nature of its proven track record and market analysis.
The Wachters then chose an iTrip Vacations® franchise, which allows them to live in Tennessee and work in Orlando, one of the most visited destinations in the world. By owning a franchise, the Wachters also benefit from branding, purchasing power and internal resources of a larger company, while operating on a local level, he says.
“As a small business owner, we wear multiple hats and can’t be expert in all aspects of running a successful business,” Wachter says. “That expertise has to either be hired in-house, outsourced or you do the best with what you have. Hiring and outsourcing is expensive, and you still need knowledge of areas such as IT to keep up with changing technology. Owning a franchise allows me to let others worry about that. I focus on things that are important, like making money.”
Expert Tips About Franchise Businesses
As a successful franchise owner, Wachter knows what it takes to make a business thrive. And his advice may prove invaluable to those thinking of making a similar life change.
“Growing a business takes time, patience, perseverance and a little guidance from God,” he says. “The first year is the most challenging because you are learning, starting the build and worrying if you made the right decision. The second year, you are more comfortable and cash is starting to flow. From year three on, the benefits of owning your own business are realized in terms of income, increasing flexibility with your time, and you have created a valuable asset.”
Wachter also recommends those considering a franchise do two things. First, develop a written financial forecast with a minimum of three scenarios: best case, anticipated case and worse case. This helps see the finance side and its effects. Secondly, develop a written business plan, which forces you to think through various aspects of the business.
iTrip Vacations® Orlando Services
The Orlando property management company currently serves more than 160 properties in the Orlando area. iTrip Vacations® Orlando provides stellar service to property owners as well as helps guests create their dream vacations. Owners receive services that include free light maintenance, premium marketing, a no-rotation system, no penalties on personal usage and more. Additionally, guests find a variety of vacation rentals in Orlando – ranging in size and amenities.
“We have built an excellent team of dedicated, honest, conscientious, and caring people who provide a great experience for each guest and great service to our owners,” Wachter says.