6 Tips for Starting a Property Franchise
12 Aug • Insight
Once you’ve discovered that you want to venture into the property franchising world, you’re probably wondering where and how to start! It’s not easy to set up your own business, and there are all sorts of questions that you may need answering to understand what’s right for you as you take these initial steps. Something we’re known for at the Belvoir Group is the thorough support that we offer our franchisees - we’re here to help every step of the way, from the very beginning, and all the way throughout your journey. Here are some of our tips for starting your own property franchise.
Do the Research
So you’ve decided that owning a sales and lettings franchise is for you - that’s great! You should, however, ensure that you fully immerse yourself on what it means to be your own boss, and how to run a franchise business. Ditching the traditional 9-5 and embarking on the wonderful journey of being your own boss is definitely exciting, and it’s nice to know what to expect. We’ve got a number of blogs that explain in detail more of what you can expect when you head into your own business, but we really recommend checking out our “A Day in the Life of a Property Franchisee” blog, to ensure you learn about the day to day role.
Operate Under an Already Established Brand Name
Owning your own business is thrilling, and being your own boss, in charge of your own working days, may be right up your street. The advantage of opening up a sales and lettings franchise under an already established brand like the Belvoir Group, is that you and your business benefit from being associated with a strong high-street presence, and a well-known name. On top of this added credibility to your business, it also comes with a backing of full support, and the comfort of knowing that a well-established company is behind you as you begin your venture, and is with you all the way through your journey.
Book a Discovery Day
When you become a franchisee with the Belvoir Group, Discovery Days are where it all begins. They’re a chance for you to immerse yourself in the brand, and for us to learn more about each other, which ultimately enables us to identify suitable opportunities for you. Based in our central office in Grantham, you’ll have a personalised one-to-one session which will help you learn what it takes to run a sales and lettings franchise business under Belvoir, Newton Fallowell, Northwood, Lovelle or Nicholas Humphrey’s brands. You’ll also have the chance to meet our unparalleled support teams.
Take Advantage of Support
Something we stand by at the Belvoir Group is the fact that the support we offer our franchisees is exceptional. When you become a franchisee with the Belvoir Group, you become part of an established high-street brand, and that comes with the continuous support of our central team. We recommend harnessing this, and taking advantage of the support that’s on offer to you. Whether it be business development, legal support, franchise recruitment, IT, finance, assisted acquisitions, marketing, leadership or audit and compliance support, our central team is on hand to help.
It’s not just new franchisees who benefit from our support teams either, it’s all of our franchisees, new and existing! Sarah, who is a Director of a Belvoir Franchise, said: “I’ve had a lot of dealings with the acquisition team, and the marketing team have updated our website. I’ve had some issues with a lease, the support was enormous, it was brilliant.”
Utilise Continuous Training
Continuous training is something that we believe is crucial; it helps you stay in tune with the ever challenging property industry, and ensures that you have the correct tools to make your franchise a success. As a new franchisee at the Belvoir Group, after the Discovery Day, we offer an intense four week training course to help provide you with the strong foundations required for running your business. After this, we continue to offer regular training courses to all of our franchisees, making sure that you’re equipped for everything for the longevity of your journey with us.
The idea of financing your own sales and lettings franchise can seem intimidating at first; there’s a lot to consider. At the Belvoir Group, we of course support you to plan financially, but there is a lot of hard work needed from both sides to ensure that you have a solid business plan. We have years of experience behind us, and we are able to assist with your initial investment, borrowing, cash flow, overheads and profits. Even as an existing franchisee, we can help you expand your business through acquisition. Whatever the size of your ambition, we have property franchise options to suit different circumstances and goals.
How we can help!
To take that first step into your new, wonderful journey as a sales and lettings franchisee, backed by a well established high-street brand, book a Discovery Day, and let’s find out more about each other, and the opportunities that may be available to you!