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Market Focus


Why did you decide to become a franchisee? Francis: Anna and I attended a Discovery Day after reading a book that led us to Platinum Property Partners (PPP). We were impressed by the apparent robustness of the business model and the story of success shared by the handful of franchisees we met. Equally, the generosity of spirit of the franchise’s founder, Steve Bolton, stood out for us. Instead of the franchise owning the assets operated by the franchisees, Steve Bolton was clear in his motivation to enable others along their own journeys towards financial freedom.


Platinum Property


Partners Francis & Anna Meynell


The couple joined Platinum Property Partners in March 2013 and invested in Norwich. When they left their corporate careers in environmental consultancy and management research behind them, they set up a bed and breakfast, but were looking for a more robust investment strategy and a reliable income. Investment level: £POA


Why did you choose PPP over other franchises? We didn’t bother seriously looking into other franchises. We felt comfortable enough with the PPP proposition to take the plunge!


How did you secure funding? Anna sold a flat in London that she had been renting out to raise the initial capital needed. We were then fortunate to have family members who wanted a better return from their pension provision, and decided to passively invest in our third property. Moving forward, we have several strategies that will enable us to grow our business.


Has the business been successful so far?


In a nutshell, yes. After a few bumps along the way, learning the ropes and growing in our own confidence as landlords, we’re pleased with the place the business has reached. We cannot fault the model.


What kind of training and support have you experienced? PPP’s training has been all-encompassing, from the basics of running and setting up our own business, to the crafts of buying, refurbishing and letting property, and to personal financial planning and long-term goal-setting.


The team at HQ love what they do, they


are incredibly dedicated and professional; moreover, they have engendered an extraordinary, impressive network of franchisees that itself provides a great deal of support and mutual learning. We would not have been able to set ourselves up in this business without them, and we suspect there are few organisations like PPP. Sometimes I have to pinch myself when I remember I’m a part of it.


Has franchising changed your life and if so, how?


Franchising with PPP has given me a level of basic financial security I have not experienced before, and in practical terms, has increased my ability to meet mine and my family’s needs. Working from home means that, when our properties are fully occupied and ‘ticking over’, I can spend more time with my children.


What have you received in return for your investment?


Once we have tenanted our fourth property – which is about to begin refurbishment – the investment of £400,000 of our own funds will give us an annual income of about £50,000, representing a return on our investment of 12.5 per cent after costs.


July/August 2016 | BusinessFranchise.com | 29


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