Business travel and relocations came to an abrupt halt in 2020. Many of the large companies we partner with in markets such as Denver and Dallas, Raleigh and Reno, or Scottsdale and St. Louis, put relocations on hold. It was an uncertain time. But, by working together as a team and embracing new opportunities, our corporate housing franchisees were able to not only ride out the tumult of 2020, but enter 2021 even stronger.
After taking the first few weeks to gauge the scope of the situation, AvenueWest took stock in new weekly franchise owner meetings. Together, we figured out what was involved in applying for the government’s business loans. Then, we focused on finding new opportunities for our high quality, furnished rentals in 15 markets. We thought creatively, implemented health and safety policies to ensure protection of our guests and staff, and reached outside of our traditional market of corporate customers.
We opened our doors to families relocating outside of cities and more densely populated areas. We provided housing to nurses and doctors on the frontlines. Plus, we catered to the needs of an explosive real estate market where inventory was at record lows.
AvenueWest also invested inwardly. We launched a new website and reinvested in marketing and growth strategies. Today, we have not only survived, but we have doubled the number of franchises in the last five-years. Now, we hope to do the same in the next three years, too.
Taking Notice of our Corporate Housing Franchise
Our innovation and growth has captured national attention. Once again, in 2021, we were recognized as a Top Woman-Owned Business in Colorado by ColoradoBiz Magazine.
We also ranked in the top 500 in our fourth time on the annual Inc. 5000 list of America’s fastest-growing private companies. Our #435 standing reflects our 1,127% growth between 2017 and 2020. As recognized by Inc Magazine, we are proud to be the 15th fastest growing company in Colorado, and to be ranked the 15th fastest growing real estate company in the entire US.
Of course the accolades aren’t as important as the long, loyal relationships we’ve established with our customers. Yet, we love the recognition from the external community that our model works. The awards give us greater visibility and credibility as we continue to grow as a corporate housing franchise with a focus on our core values of five-star customer service, excellence and integrity.
AvenueWest has identified over 230 North American cities, where our business model will work and there is sufficient lodging demand. If you are considering a franchise opportunity or interested in adding an additional revenue stream to your real estate business, we invite you to explore what owning an AvenueWest franchise could look like for you.