understand franchising and identify whether it’s a good fit for you." />
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

Could you be a franchisee?

Franchising can be a very appealing option when looking to start or expand and develop a business. It isn’t however for everyone, so before you look to go down this route it’s important to understand franchising and identify whether it’s a good fit for you.

Below is a list of questions to ask yourself. These should help you to better understand whether franchising is for you. This list is by no means exhaustive and a member of Winkworth’s new franchising team can have a further discussion with you if you have any questions regarding this route.

Q: Do you have enough working capital to invest in a franchise?

It’s important to evaluate your current financial commitments carefully. Do you have a mortgage, loans, school fees to pay? In every business start-up there will be dips in cashflow at the beginning as it takes time to break even and then to make a profit. It’s important to know that you have enough working capital to invest in the franchise whilst continuing to pay your other financial obligations.

Q: Would you be willing to work above the normal 9-5?

Starting any business is time-consuming but if you are willing to put in the extra hours this can quickly result in huge rewards. Consider whether you can give up more personal time to accommodate spending the extra hours on the franchise, particularly in those early stages.

Q: Do you have the full support of your family and friends?

Spending more time in the office, especially during the beginning, could disrupt your personal life. You may not be able to collect the children from school or go on that last-minute holiday just yet. Winkworth actively encourages the involvement of family members in the offices and this is reflective across a lot of the network. It is important to know that your family and friends fully support you and can help you to make the business a success.

Q: Have you worked in a Management position before?

There will be hundreds of important decisions to make during your time as a franchisee. Do you think you have the management experience or skills to make these decisions whilst motivating a team of staff and pushing the business to success.

Q: Are you good at taking instructions?

The beauty of a franchise is that you independently own and operate your business whilst receiving back-office support services from the franchisor. Being part of a franchise however you do have to adhere to sometimes strict guidelines on how to run the business in terms of legislation and best practice. These are in place to protect both you as the franchisee, the franchisor and the brand.

Q: Are you a confident and personable character?

Winkworth value these traits and see them in all the franchisees in the network. It’s important to be approachable, passionate and driven to see real success.

If you have answered yes to all or most of these questions, then franchising could be the route for you. If you want to learn more about owning your own estate agency contact our new franchising team today to find out further information on becoming a franchisee and being part of the Winkworth network.

Interested in knowing more about owning a Winkworth office?
Contact our New Franchising team

James Campbell | Gina Piper
newbusiness@winkworth.com | 020 7355 0200

Related posts

Buying a Winkworth office: the options

Every year the new franchising team at Winkworth help to sell a number of existing offices to new owners. This can be due to several reasons; the current franchisee may be looking to retire, relocate, concentrate on other business interests or simply wish to exit because the franchise term of 10 years is up.

Read post

November 28, 2019

A Winkworth journey: from employee to multiple office owner

One of Winkworth's current franchisees and multiple office owners is Ian Fraser. Ian began his career with Winkworth in 2001 working as a sales manager in the Winkworth West End office when, five years later, an opportunity to purchase an existing Winkworth office arose, and his journey as a Winkworth franchisee began.

Read post

November 20, 2019

5 reasons why franchises fail

Research states that 50% of independent start-ups fail within the first 24 months of trading whereas only 5% of total UK franchises fail.

Read post

November 14, 2019

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?