RESIDENTIALlettings
hard, ability to follow systems, tenacity and adaptability. “They come from a variety of
backgrounds, of our most successful franchisees, one is from an independent agency background and in his first two months of trading took on ten properties for sale, another successful franchisee had never worked in agency, but was determined to learn fast and within a couple of months was billing approximately £3,000 a month.” Dorian Gonsalves, MD at Belvoir, says
their franchisees bring broad experience to the business, coming from a wide variety of careers. “We have recruited franchise owners who have come out of retirement in order to launch a Belvoir office. We have ex-military personnel, farmers, ex-policemen, marketing managers, family member teams and many others who all run successful Belvoir offices. Previous experience within an agency or the property market is not necessary, as full training is provided and in some respects it is easier for someone with no previous experience to learn the Belvoir system.”
managing expectations The franchisors are open-minded about age and background, there are other qualities they seek; but what should potential franchisees seek and expect? The perceived benefits of the franchise
route include advice, support, training and faster route to riches than starting on your own and these are all there, with some bells attached. James Trimble says that Winkworth’s strong back office support gives franchisees a huge advantage, “We offer marketing, PR, IT, accounts, compliance and our training academy. This really helps because it can be lonely and frustrating dealing with all these tasks when, what got you excited in the first place was the part where you deal with the buyers and sellers!” The support is there but all the
franchisors we spoke to play down the expectations and warn franchisees that success comes after real commitment, “A franchise will stand or fall by the efforts of its franchisee,” intones Roy Gover, “Signing a franchise is not a guarantee of success.” People should not expect a franchise to
immediately improve their work/life balance. “Although buying a franchise can ultimately do this, the launch of any new business initially requires enormous focus, attention and effort. However, one of the benefits of franchising is that you never do
14 MARCH 2011 PROPERTYdrum
‘Your Move offers dual branding opportunities which franchisees
appreciate if they have local connections.’ alan johnson your move
this alone and at Belvoir we invest heavily in franchise support, offering new franchise owners access to a personal business advisor for up to the first 12 months to help them deal with any challenges they may face,” says Dorian Gonsalves. “Running an independent business can be quite a lonely affair, and having nobody to share concerns with can be problematic. At Belvoir there is always someone on the end of a phone for franchisees to talk to. We organise quarterly Belvoir Network Group meetings where franchisees can discuss various topics and benefit from each other’s experiences. This has proved to be extremely effective. “A good franchisor offers a range of
training courses to franchise owners and to their staff. This will ultimately enable the franchise owner to relinquish some of the day-to-day running of an office and concentrate on strategising and growing their business. It is at this stage that I would say the work/life balance can dramatically improve.” So no instant BMW M5 there. Ian Wilson, MD at Martin & Co, is
similarly blunt, “It is not going to be easy. You do have to work hard to build the business up. Also the business is unlikely to be profitable for some time. Having said that, the franchisor is there to support you
A High Street regular, popular with those already in estate agency.
so do not expect that once you join you will never see them again!” Opening an estate agency franchise isn’t
like opening a McDonalds or Domino’s Pizza where new customers simply walk in through the door, Kevin Hollinrake says. “Wherever you go there will be tough competition and you need to understand that most local residents probably don’t get too excited if a new estate agent opens up locally, however good the brand is. You have to work at it – things are even more difficult for new agents than when we first opened our doors in 1992. Back then you just needed an office in the right street, a nice ad in the property press and a good person on the end of the phone. The internet has changed everything – sellers and landlords very rarely walk through our doors and good agents have a marketing strategy that identifies and communicates with prospective new clients.” If Kevin, Dorian and Ian were being
blunt, Alan Johnson at Your Move cuts right to the chase. “Becoming a franchisee requires hard work and dedication and it will take time to build the business up. They must not rely on the financial support of the franchisor, nor should they expect them to manage the business for them.” Quite. It’s rather the other way round in the franchise world.
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