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Succession plans

There comes a time in everyone's lives where naturally you begin to think about retirement.

The Winkworth franchise agreements run for a period of ten years so occasionally after a decade or so we see a small percentage of franchisees looking to sell up or retire. Our franchisees give everything they’ve got to their businesses however sometimes once their children have grown up, the lure of worldwide travel or a more leisurely lifestyle takes their fancy, and they look to move on.

At Winkworth we invest in people. Not only at the franchisor office but in each office throughout the network. Over the years we have seen a lot of franchisees look to sell to their current sales or lettings managers. This normally happens over set timescales and is target driven.

Normal procedure of a succession plan for a manager of an office is for 5-10% shares to be sold to them initially. Over a period of normally five years a further 35-40% shares can be sold to said manager.

This is purely a guideline set of Heads of Terms and varies hugely across the network. However the idea of selling to managers remains a common one in Winkworth offices. Offering shares to purchase is a great motivator for the right staff member and more often than not they will invest in the business as much as you do.

Currently circa. 10 offices throughout the Winkworth network are part owned by existing managers.

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

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