Market Focus
Are there any pitfalls to running a property franchise?
Every day is a challenge. After winning Franchisee of the Year 2007, I was exposed to many franchise models and I found that all too often people invest thinking the work will come to them. But they are more like employees and not business minded. No one was going to find instructions for me from landlords. I went out and was creative.
What have you gained since working for Belvoir? I now have a property portfolio despite having no previous knowledge of the industry. For instance, your average house price in 1961 was £2,600 and it is now £170,000. The franchise has opened up my eyes to the aspects of the industry, such as sustainability and growth. I get results from dealing with clients ethically and honestly. I enjoy seeing my team of 12 staff developing in skills and confidence. Staff are your most valuable asset. My standard of living has gone up massively. The Belvoir franchise has developed far greater than I anticipated and we have the benefit of market growth.
How have you made your franchise your own? As part of a group of 145 franchisees, I realised that, if I needed to start a new product, we could pool our strengths and resources, as well as raise the necessary capital. So I set up Belvoir Networking Group, with meetings four times a year. It helps with product development and is a valuable asset.
Has anything very unusual happened to you since starting your franchise? I once received a phone-call from a detective inspector asking if we rented to a certain person. After checking his credentials (we never give out personal details), the detective told us he was involved in a money-laundering operation. After asking for my help, I set up a sting, changing the locks on his house and leaving a note asking him to come in to see me. When the he came in, there was a stakeout outside. While the tenant was having a cup of tea, the detective inspector came in and arrested him. He had been renting properties out himself and cloning people’s identities, borrowing
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unsecured loans in their names. He didn’t even live in the property we rented to him. With a bit of creativity, we caught him.
Any advice to pass on to those who are looking to buy in to a property franchise?
If you have an opinion, get involved with your community and especially the council. The council is there to help and, if they see that you’re putting your back into making your company a success, they will welcome you. It is also important to take pride in your area and give something back.
Country Properties
decided on investing in an estate agency when we saw an advert in Daltons Weekly advertising a Country Properties franchise for sale, which we pursued but ended up opening our own.
Do you keep a day job or do you have to dedicate yourself to the franchise? We took the leap and, in order to make it as successful as possible, we both dedicated ourselves full time to the franchise.
Mother-and-daughter team Linda Payne, former manager of the members’ club at Tottenham Hotspur FC and Zoe Grist, a former production manager at Wall To Wall television company, opened their franchise in early 2007 in Old Hatfield. They believe running the business together has enabled them to share the benefits and allows them greater freedom and flexibility in their lives.
How easy was it to set up the franchise and how did Country Properties help? The personal hurdle of making the jump from what you know so well to a completely new environment and trade was the hardest part. However, with the continued help and assistance of the franchisor, this was made easy. They researched and negotiated everything, from researching the best area, finding an appropriate office, providing all contact details for equipment required, setting up work experience and training within branches and at head office, writing press articles to launch the business and, most importantly, always being on the other end of the phone – no matter what time of day! Of course, confidence comes from experience and, no matter how much training you receive, until you are actually in the field for real it can be daunting… yet exciting! Managing staff can be challenging, settling people in and defining roles and responsibilities, etc. However, our old jobs provided us with the skills required to manage employees. You need to feel passionate about your product and the rest comes naturally!
“Financially, we have gained from this
investment, giving us a profitable asset for the future. Ultimately, you reap what you sow!”
How did you get involved in Country Properties? We had been actively looking at all different franchises for sale and had
Has running a franchise met with your expectations? Our aspirations were to run our own business. The word ‘franchise’ can sometimes be mistaken for having a ruling head office and doing as you are told. Country Properties provides you with the right amount of guidance and what you make of it is up to you.
How has your life changed? Being our own bosses has enabled us to have the flexibility in lots of personal and financial ways. We have been given
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