child mortarboard gbp briefcase bath coffeecup tree twitter search crosshair fax house papers sort house-pound brochure list-items notes printer video-camera video virtual-video bath bed camera floorplan heart-empty heart-filled heart-empty-thin heart-filled-thin sofa calculator compass share clock list map-pen map-pin pencil save business-card letter phone heard people pointer cross linkedin google-plus facebook arrow-right close triangle-down my-wink my-wink-thick house-circle loading-spinner bell close-circle dog link pinterest school transport wardrobe arrow-up one two three four five six seven tick

A crash course in franchising terminology

Franchising has a lot of jargon. If you're new to franchising and want to learn a little more, below are some key terms and their meanings that you will need to understand.

  • Franchisor – The parent company that permits individuals to use their name, brand and trademark for a period of time. In this case, Winkworth.
  • Franchisee – You, the individual, seeking to use the name and systems of the franchisor to run your business under.
  • FA (Franchise Agreements) – The legal documents that act as contracts between the franchisor and the franchisee. Winkworth has separate sales and lettings FA’s.
  • Royalty Fee – This is an ongoing fee that is paid to the franchisor by the franchisee. Winkworth charge a set 8% royalty fee across the network.
  • MSL (Management Services Licence) – Winkworth will grant licences to certain offices to perform property management when the correct infrastructure is in place.
  • Defined territory – Unlike some other estate agency franchisees the Winkworth offices are assigned defined territories to trade within. These are contractually bound into the FA’s and are areas that the office they’re assigned to can operate in. Another office is not permitted to operate within a defined territory that is not theirs.
  • Cold start – This is a term used for the opening of a new office from scratch.
  • Conversion – This is a term used for a rebranding of another estate agency to Winkworth.
  • NDA (Non Disclosure Agreement) – We will ask you to complete a NDA in the first instance. This is a legal agreement that will allow us to share confidential information with the knowledge it will not be passed on.
  • CRB (Criminal Record Bureau) – All potential franchisees are asked to complete a CRB check. Winkworth doesn’t bring anyone on board if they have any sort of criminal convictions.

To find out how you can become part of Winkworth contact our New Franchising team

James Campbell | Gina Piper
newbusiness@winkworth.com | 0207 355 0200

Related posts

Winkworth Tooting celebrates success under new management

The established Winkworth Tooting office has been trading out of its premises near Tooting Bec station for over 20 years now. In January 2018, the business was sold to a new franchisee and Charles Mitchell was hired to manage and grow the office, which over the last 24 months, he has achieved successfully both in terms of local awareness and revenue....

Read post

February 14, 2020

How Winkworth’s central services department helps franchisees

Winkworth’s central services department is built up of two key elements with the aim of improving the company’s market share. Client services is focused on delivering instructions to the Winkworth offices through database management and provides an important link between the two to ensure no opportunities are missed. The corporate relocation aspect of the department offers a centralised, streamlined

Read post

February 06, 2020

Your roles and responsibilities as a franchisee

As business owners, every franchisee trading under the Winkworth banner has an important role in the group as well as responsibilities to uphold. Here we outline the five main roles and responsibilities.

Read post

January 31, 2020

Find your Local Office

Find your Local Office

Speak to people who, quite simply, love their patch and love what they do.

Get a Free Valuation

Get a Free Valuation

Thinking of selling or letting your property, or just interested to know what it is worth nowadays?