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What are the six skills every franchising entrepreneur needs to succeed?

Do you want to run a business with a proven track record? Can you see yourself setting-up and managing a new branch in the UK or overseas? Winkworth is always looking for new potential managers to drive forward local offices.

Do you want to run a business with a proven track record? Can you see yourself setting-up and managing a new branch in the UK or overseas? Winkworth is always looking for new potential managers to drive forward local offices. Here are six essential skills every franchising entrepreneur needs to succeed.

People skills
Interpersonal skills are important in almost any type of business, but perhaps none so much as when working in property. If homeowners are going to sell their homes through you, there needs to be a high level of trust and respect. This is achieved by dealing with clients with professionalism and sincerity.
 
Coachability
One of the aims of franchising is to go into business for yourself, but not by yourself! With almost 100 offices, Winkworth has a huge amount of management experience and knowledge that can be tapped into. It is not essential to have experience running a business as the franchising team supports all franchisees, but you may find the transition easier.
 
Knowing the area
Local knowledge is key when opening a new franchise. It’s one thing spotting a gap in a market, but those with expertise in a local area, often reach their full potential faster. It is useful to know average house prices, where the market is heading as well as knowing streets with potential or any upcoming developments that might be in the planning stage.
Similarly, when you approach us with a new branch in mind, you should already be able to picture the location in context. Is there parking nearby? What is the footfall like outside the office? Can it be seen clearly from a main road? Is it far enough away from previously established estate agents? We need you to have a vision for your branch, then we can turn that vision into reality.
 
Commitment
It may sound obvious, but launching a new franchise takes a great deal of work. It may seem overwhelming to begin with, but we are looking for people who are passionate about the Winkworth brand and in tune with our ethos.
 
Financial awareness
To set up a franchise, you typically need to have the capital in place to get the business off the ground. That’s also your first opportunity to demonstrate your ability to manage a budget. Usually, franchisees have enough savings to cover their living costs until their new venture starts to make a profit.
 
Confident management skills
Although Winkworth is an established brand, you would be running your own business. To do so, you should have complete confidence in managing teams, and that means putting your staff to the most efficient use. This will the take pressure off you, so you can grow your business.
An organisation is only as strong as its people, and as a franchisee, you would be responsible for that headcount. When entering franchise agreement discussions, it is essential that you have a good idea of the kind of team you are looking to put together. Research the current roles and responsibilities in the company, and explain how you see yourself working to get the very best out of this structure.


Have you been thinking of starting a franchise? Winkworth is looking for new franchisees to continue their successful growth. 

 

Contact Gina Piper (Business Affairs Manager) on 020 7355 0200 or via email at gpiper@winkworth.com to find out more about starting your own Winkworth franchise. All conversations will be strictly private and confidential.

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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