Property Franchise Frequently Asked Questions
12 Aug • Insight
What is a property franchise?
Property franchising is a type of business model that allows a franchisee to operate a sales and lettings business under an established brand name and business model. The brand that you will operate under is known as the franchisor. For example, being a property franchisee with the Belvoir Franchise Group will allow you to operate under the Belvoir name while receiving support and guidance wherever you are on your property franchise journey.
Read our blog to find out more about how to start a property franchise with Belvoir Franchise Group.
Do I need the experience to run a property franchise?
In short, no. However, having previous business experience or knowledge of operating a business can be extremely beneficial. One of the best things about being a property franchisee is that you will often receive training before getting started and ongoing guidance and support throughout your journey. With Belvoir Franchise Group, our friendly team and business mentors will be on hand to help you while you get to grips with operating a business.
Who can become a franchisee?
Anyone can become a property franchisee, but you will require the funding to pay for the initial set-up costs and any running costs. There are often different financing options that can help you raise the capital to set up your own property franchise.
What are the benefits of owning a property franchise?
There are many benefits to owning a property franchise, from having the freedom to be your own boss to operating under an already trusted and established brand. Choosing to set up your own property franchise can help make starting your own business a little less scary.
Read our blog to find out more benefits of owning a property franchise.
What fees will a franchisee have to pay when joining a franchise?
When you start your property franchise journey, you will be required to pay an initial investment. The cost of this will depend on what franchisor you choose and whether it is a resale or an acquisition.
What is a franchise agreement?
A franchise agreement is a legally binding document between a franchisee and their chosen franchisor. The document will outline the expectations from both sides and will include things like payment costs and fees, how long the agreement will last, rules around the use of brand name etc.
Having a franchise agreement in place is important to protect both sides, the franchisee and the franchisor. When setting up and buying a property franchise, you will be required to make a big financial investment and a signed franchise agreement will help protect your investment.
Will I receive training and support when becoming a property franchisee?
Depending on who you choose to be your franchisor will depend on the level of training and support you receive. At Belvoir Franchise Group, whether you choose to become a franchisee with Belvoir, Newton Fallowell, Northwood, Lovelle or Nicholas Humphrey's, you will receive the full support of a centrally located team - this support will include initial training, mentorship, marketing and shop fit-out support and ongoing support throughout your whole property franchise journey.
Find out more here about the training and support you will receive when joining Belvoir Franchise Group.
What is a day like as a property franchisee?
No day is the same when working as a property franchisee, but there are things you will regularly have to do, from meetings, house or flat viewings, researching properties and their location to finalising details and offers and communicating with customers.
Read our blog to find out more about what a day in the life as a property franchisee is like.
How we can help!
If you are interested in becoming a property franchisee or have any questions, then we can help! Please get in touch and one of our friendly team members will help guide you in the right direction - whether that’s answering questions or booking yourself for one of our Discovery Days.
If you would like to find out more about what it is like to be a Belvoir property franchisee, read our blog where Yusuf Majid gives you an insight into his life as a property franchisee.