Winkworth’s Head of Talent Lucy Britton sets out the facts
As the leading franchise agency with over 100 offices nationwide, we are always looking for ambitious individuals looking to run their own businesses.
We do find that there are common myths which often hold people back from considering a move to becoming a franchisee.
Top of the list is the assumption that starting an estate agency with Winkworth is expensive. For many of our franchisees, working in a Winkworth office is how their career started. Existing owners are often looking at who will be their successor and are recruiting on that basis to find real potential. When the right person is in place and has demonstrated that they are a major asset to the business, the franchisee may well offer to make them an equity partner. Another way may well be to invest in the business for a share. This can be a very cost-effective way to gain equity and has been the path for a number of our franchisees.
Next up is the myth that progression stops at senior management. For talented and hardworking professionals, becoming a shareholder provides the opportunity to build a really successful business that can be sold in the future. It is all about building an asset with the support of the Winkworth network and head office team and the power of a trusted brand, rather than as a small business or one-man band.
An enduring hot topic is whether the high street estate agency model is dated. The pandemic has brought this into sharp focus when people’s daily working patterns changed dramatically to working from home. Suddenly, the focus has moved to hyperlocal. Communities and high streets are being re-energised by a new influx of people working from home and spending time in their local area. With Winkworth, your high street office has a great brand presence and is visible to all. We always insist that our offices are in strategic locations where people will be passing on their way to the local station or shops – or driving past on a main road. When people are buying or selling what is probably their largest asset, they like to meet the people who are going to be handling their business and the office team will provide the reassurance that their asset is being handled by highly skilled, professionals.
At Winkworth, we are committed to being part of local communities and getting involved, not only in a full range of property services but also supporting local schools and charities. Most franchise owners live in their local area and are invested in its future success. Look across London and there are more than 60 Winkworth offices in places where people want to live, part of the nationwide network of more than 100 offices in key locations in large cities and towns and at coastal hotspots which provide vital links for clients buying, selling and investing in property.
In our next blog, we will continue to bust the common myths about franchising.