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What are Property Franchises?
A property franchise is any franchised business which operates in the property sector. This could be anything from end of tenancy cleaning services, plumbing and estate agency franchises.
Property franchises operate in the B2C franchising sector. If you're looking to get your foot on the franchising ladder, property franchises are a fantastic choice.
Advantages of Property Franchises
Home based working is a growing trend, and with the rise of online property estate agents like PurpleBricks and Rightmove, highstreet estate agents are already following in foot. Today, most people looking to buy or rent a property will look online. This opens up the advantage of estate agency franchises that can be run from home. If you've checked out our home based franchises, you'll know that these usually come with the luxury of low investment, low overheads and flexible working lifestyle. Whilst window shopping for properties is still popular, home based property franchises will cut out the need for a premises, slashing startup costs. Check with the franchisor to see whether the business can be run from home.
Many property related franchises are not involved with buying and selling of properties. Plumbing and window cleaning franchises could be loosely considered property franchises. These types are usually van based, and offer unlimited earning potential because of the fact that there are very few boundaries when it comes for searching for clients. Every property will need its windows cleaned from time to time, and this offers fantastic opportunity for repeat income.
Don't forget that with franchising, the franchisor is selling the rights to an established business model. You're not starting up a property business from scratch. You'll receive support from the franchisor, and guidance. The franchisor will want you to be successful, for the sake of their brand and the other franchisees.
How to Choose a Property Franchise
As with any big career move, you need to consider franchises which you can see yourself running. What can you see yourself doing 5 years from now? The best franchise for you, will be the one you can see yourself enjoying. If you have a passion for property then make a list of potential property franchises that you could consider running.
Once you've made a list of UK franchise opportunities, look into each one. Find out:
- Their earning potential - how much can you earn and how quickly can you make back your investment.
- What is the territory size - does the size justify the potential properties?
- How many franchisees - how many franchisees are trading and what are the reasons, if unsuccessfully.
- Training and support - what levels of initial franchise training and ongoing support is provided?
Attending franchise exhibitions and discovery days is always a great idea. It gives you an opportunity to meet with the franchisor and possibly some franchisees, and ask questions about the business.