Our Tips for Having a Successful Property Franchise
17 May • Insight
Property franchising is a popular choice for many entrepreneurs, and there’s no doubt that the property market is an exciting place to be, especially in the UK in 2022, where the market has a value of around £9.5 trillion. Here at Belvoir, we are extremely proud of the fact that we have so many success stories under our belt with our franchisees, and some very long-standing ones too. These successes are thanks to a lot of hard work and years of experience learnt on the job, within the industry, as the businesses have flourished and grown. Whether you’re an existing franchisee, or looking to start up and take those first steps, we’ve detailed our topline top tips for having a successful property franchise.
Do the research
When you begin, first and foremost, you must take the time to research and truly decide whether a sales and letting franchise is for you. It’s a big decision to make, as you would become a business owner, in charge of your own workload and days. We don’t expect you to make any rushed decisions on your first step on the ladder of owning your own sales and lettings franchise. That’s why we offer personalised one to one Discovery Days, where you can learn what it takes to run a Belvoir, Newton Fallowell, Northwood, Lovelle or Nicholas Humphrey’s property franchise. It’s that first step, and that initial chance for us to learn about each other and the opportunities that are available, that enables us to help ensure that it’s a right fit for both of us, and sets you up for success.
Utilise your help
It can be intimidating if you’re just starting out on your franchising venture, which is why we don’t expect you to go it alone! When you become a franchisee with the Belvoir Group, you become part of an established high-street brand, and that comes hand in hand with the support of our central team. Whether it be business development, legal support, franchise recruitment, IT, finance, assisted acquisitions, marketing, leadership or audit and compliance support, we’re here for you every step of the way, and we encourage you to utilise the support we offer, to help your business to grow.
For new franchisees, after the Discovery Day, we offer an intense four week training course to establish that you’re set up with the tools you need to start your business as a success from day one. This is something that we continue throughout the entire journey with us; offering regular training courses to all of our franchisees, ensuring that you stay up to date with the ever-changing industry.
The support we offer is something that we’re proud of, and we know it makes a difference to our franchisees; something that was especially apparent during the pandemic. One of our longest standing franchisees, Steve Tunney, of Belvoir Milton Keynes, has 24 years of experience in the lettings business, and said: “this pandemic has been the most challenging experience of my career, but the help we received from the Belvoir franchise support team during lockdown was really very good.” He went on to add: “as a business owner, it definitely made life a lot easier knowing that the Central Office was working so hard on our behalf, and sending all of the information through to us so quickly.”
Put in the work
Running your own business day to day can be challenging, and it’s a common mutual agreement amongst a lot of our franchisees that no two days are the same. With that in mind, it’s important to remember that it’s crucial to bring enthusiasm to your own business, and put in the work, nourishing it to allow it to blossom and grow. Whilst we’re continually on hand every step of the way with our support for you, our hard work only works alongside yours.
Becoming a business owner means you’re able to relish in the freedom of prioritising your own workloads and taking control over how your working life looks, including your working hours. However, it’s crucial that you’re present for not only your staff, but for any meetings, negotiating, or any of the day to day responsibilities you may have. All of our many success stories, including award-winning franchises and long-standing franchises, have all continually worked tirelessly for their businesses to thrive.
How we can help!
Property will always be personal with the Belvoir Group. Our business was founded over 20 years ago, on the strengths of our relationships with people, whether that be a franchisee, landlord, tenant, vendor or buyer. You can find us in over 400 locations across the country, where we’re trusted by many satisfied customers everyday, thanks to a strong network of franchisees that share our ambition and drive.
Could franchising be your next opportunity? Begin today by booking a Discovery Day with the Belvoir Group, and see what the future holds!