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Expanding your franchise empire

62% of Winkworth offices are owned by franchisees who own multiple offices.

By Gina Piper

62% of Winkworth offices are owned by franchisees who own multiple offices. Only 36 of the Winkworth offices are owned singularly, and one franchisee owns five.

At Winkworth our franchise agreements run for ten years, therefore we see owning a Winkworth franchise as a long term investment, (some of our franchisees have been with us for three decades!)

It’s important to think when coming on board, what your long term plans and goals will be as a Winkworth franchisee. Do you want to expand your empire? If so, at which milestones? We don’t encourage franchisees to expand too quickly in order to protect the cash flow per office; however the 2-3 year mark is normally when franchisees approach us regarding plans to opening additional offices.

There are many ways to expand with Winkworth once your initial office is up and running and making profit. ‘Satellite’ offices are a cost effective way of having a second office within your territory patch, as ancillary fees here are waivered. Identifying neighbouring areas to infiltrate with a second standalone office is also another way, albeit more expensive as you are ‘starting from scratch’ with a cold start office. Purchasing of agencies to then rebrand is a third avenue, a good one - which with a strong pipeline and lettings and management portfolio already in place, will gain you income from day one.

The chart below shows how many offices are owned by our franchisees.

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

Learn more about franchising with articles, tips and advice on taking the next step in franchising: www.winkworth.co.uk/estate-agent-franchise

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