Master communication and letting go to boost your...
At 20 years old, this Kedger is launching his own real estate start-up
He’s hasn’t officially graduated yet, but Sudre (KEDGE Bachelor 2018) is already an entrepreneur at 20 years old! Immo-pop is an online real estate agency that doesn’t take a commission.
Hello Théo! To begin with, tell us about your educational background. What training are you getting at KEDGE and what did you receive before you started at KEDGE?
Hi. My name is Théo Sudre, I’m 20 years old, and I’ve been passionate about business since I was very young. After my primary and secondary years at school (where I had experimented with a number of concepts - beginning with taking apart the central heating system at my school at age 4 or 5 (:, conducting business during recreation hour, and disabling the IT system of the school lunchroom (which I thought was outdated) ), I had to think about what direction I wanted to go post-high school. With a BAC in Sciences and Management Technologies (STMG), I was naturally drawn to business school, and I chose to get my bachelor’s degree at KEDGE.
The bachelor’s programme has been, for me, a chance to integrate the basics I previously learned into all the different areas needed to start a business (accounting, finance, marketing, law…). But the desire to move on to actually doing something had become ever-present (think omnipresent!) so I enrolled in KEDGE’s “Business Creation and New Venture Creation for Startups” programme in Marseille to learn to perfect the world of entrepreneurship. I had my first required internship in London so that I could improve my English and I threw myself into working on my project (during every period of down time). In fact, during my final year, KEDGE has agreed to let me (and I am very grateful) validate my degree by being an intern in my very own Startup: Immo-pop.
I’ve worked in different businesses ever since college, but it was tough, and I felt constrained by the lack of autonomy that was available to me. Whenever I became interested in a business, I analysed its history, its creation, its economic model, its evolution in the world, and what new technologies could be used to strengthen the business plan… . I basically put myself in the head of the CEO and I could only think of one thing: how to improve systems to save time - such as what changes could be made to save time and allow other sectors develop, or how to strengthen weak areas of the business. Of course, this is obviously an inappropriate role for a student who hasn’t even finished his studies.
You’ve probably realised that my experiences in businesses were made up of frustration and wanting to help. Unfortunately, watching a member of staff during work hours put me to sleep. Because of these professional experiences, I learned patience, English, and the certitude that I was made for entrepreneurship. That’s why I give 100% of myself when looking for ideas : what do people need, and what sectors have the potential to develop.
Above all, I want to have a serious business plan that provides new alternatives to the market, while offering users a rewarding and unique experience. Just as important, I am convinced that someone working for a company is not just exchanging his or her time for pay, but that he or she can be – by using the right management concepts - a driver of success for the company (I am passionate about horizontal management).
Some advice : always surround yourself with the best and don’t be afraid to approach someone who might be better than you are in your field!
Tell us about Immo-pop, your start-up.
It came about from an observation I had: the bad image of real estate agents, fees disproportionate to services rendered, a tight economic market, and the use of innovative concepts in various sectors (e.g., Foodtech, Fintech, Legaltech). But there was nothing in the real estate sector that could meet the challenges faced by its clients… here was something to create! And since I have been surrounded by in the real estate business since childhood (my father was a Notary and my mother worked for a title company), this field seemed to me both complex and exciting. But I had to know as much as possible! I spent entire days and weeks combing through websites from all over the world, scrutinising the different business models in use, and analysing the success of some businesses and the failure of others through the relevant news. An idea began to take shape: a hybrid real estate agency, which is a very recent model that has developed very quickly in other countries such as the USA, England, and Canada.
Once the idea was formed, the business plan written, some brainstorming on the part of my closest friends and family, and a little madness (ok, a LOT!), off to the bank → Application for student loan accepted -> 2 weeks later: signing with a lender, and the adventure of Immo-pop began! To launch this project, I also gave many presentations to raise additional funds. 50,000 € was raised through exciting meetings and inspired people wanting to be part of the adventure ... . Story of a hard sell: I presented my concept to estate agents... .OUCH!!!! To convince them that they would be able to get their returns with the aim of reworking each point was, of course, very difficult! Try explaining to someone with 15 years of experience that I, Theo, age 20, I was going to reinvent his job ... not easy, but very educational!
To sum it all up, Immo-Pop, is an online real estate agency that works without taking a commission. Our goal is to reinvent the real estate business by offering the best possible user experience while reducing the cost of the service by a factor of 20. We support our customers in the sale of their property by providing an estimate, taking photos, publishing adverts, providing administrative services, and negotiating offers – all without taking a percentage of the sale as a commission (which is generally between 4% and 10% of the sell price of property). Instead we charge a fixed fee of 1,890 €.
- https://www.happy-capital.com/projet/immo-pop/page
- https://www.immo-pop.com
- https://www.facebook.com/immopop1/
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