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

Why franchising works for me: Part 1

In the first of a two-part mini-series, Winkworth directors reveal why franchising has proved successful for them. This week: Howard Greenfield looks back over nearly a quarter of a century and shares insights, ideas, and inspiration for those who are thinking about opening a franchise.

In the first of a two-part mini-series, Winkworth directors reveal why franchising has proved successful for them. This week: Howard Greenfield looks back over nearly a quarter of a century and shares insights, ideas, and inspiration for those who are thinking about opening a franchise. Howard has been steadily expanding branches across north London, with his business partner Graham Gold, for almost 25 years. Now he runs Winkworth Golders Green, Finchley, Hendon and a new pop-up franchise in Colindale. Here is his story:

I spent most of the Eighties working in Hampstead Garden Suburb and was offered the Winkworth Golders Green franchise in 1993. The franchise model in those days was quite rudimentary by today's standards, but I saw the commercial possibilities and decided to purchase the franchise with a business associate, Graham Gold.

We were determined to run the business in a hands-on way and, at first, it was just the two of us, my wife and one other staff member. This was in the pre-email, pre-internet age, so the day-to-day running of the business was pretty old-fashioned: it depended on the personal touch, not technology.

But we made a success of it and, in 1998, when Winkworth decided to turn its Winkworth Finchley office into a franchise, we offered to take it over. That has also worked very well. More recently, we have expanded our area of operations geographically, taking on the Winkworth Hendon franchise in 2015, when the owner retired. This year, we have also set up a pop-up franchise in a brand new office, Colindale, in an area where 11,000 new homes are being built. There is a lot of potential in the market, and it is important not to have all your eggs in one basket.

The franchise model has been hugely beneficial and enabled us to expand steadily, incrementally and successfully.

Our business has gone from strength to strength. We now employ 24 staff and have learnt a lot over the years. Looking back, we could probably have expanded the business faster than we did. But we have always been flexible and, during difficult times in the property market, that flexibility has been critical. One of the distinctive features of our franchises has been that sales and rentals have been equally important, split more or less 50/50.

For anyone thinking of opening a franchise, it is worth remembering the amount of support you will receive. We receive massive support in terms of IT and marketing that would simply not be available if we were operating independently. It has been a two-way street, to our mutual advantage. The franchise model has been hugely beneficial and enabled us to expand steadily, incrementally and successfully.

Next week:

Narendra Gandhi (Director) of both the Ealing & Acton and Chiswick offices, looks back on a decade in franchising.

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

Related posts

Winkworth Franchising continues its lettings growth

The UK property market remains tumultuous due to Brexit and the continued legislative changes facing the industry. Recognising the challenges faced in property sales, Winkworth has continued to invest in the lettings side of the franchise operation.

Read post

February 15, 2019

Winkworth Poringland – One year on

At the beginning of January 2018 Jamie Moore opened the doors to his new Winkworth office in the village of Poringland in South Norfolk. Having now been trading for just over a year, we caught up with him to see how his experience with Winkworth has been so far.

Read post

February 12, 2019

Financial forecasting in franchising

As well as producing a comprehensive business plan when opening, converting or purchasing a Winkworth office, potential franchisees are also required to produce a three-year financial forecast.

Read post

February 07, 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?