Staying simple but small has helped put three QUT alumni on the path to entrepreneurial success in the increasingly competitive inner-city apartment market.
QUT graduates Daniel Brennan, Dominik Waldmeier and Natalie Saint-Forrester established Kelvin Grove based company Hive Student Accommodation.
Within two years the company’s turnover reached $500000.
The trio manage high quality, affordable student housing for ‘niche’ small-to-medium (50-150 bed) complexes built and owned by investors.
“It has been a fast-paced two years as we went from no revenue and $10000 in seed funding to managing 500 rooms,” Mr Brennan said.
“Our occupancy rates averaged 96 per cent capacity.”
Hive’s first purpose-built complex opened in January 2017 in Kelvin Grove, close to QUT.