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Winkworth employee to franchisee

I had been working for the franchisee of Winkworth West End for five years as his sales manager when the opportunity arose to buy the Islington Franchise in 2006. The office there had been established for a long time but had not been very well run for a while and I immediately put in some changes to systems and staff.It is a credit to the name above the door that we are consistently within the top three agents in the area in terms of volumes of new instructions.It is a credit to the Winkworth name that it had continued to attract the levels of business that it did, but I soon saw the rewards from my efforts and within a year was making a healthy profit. Unfortunately the recession hit badly in 2008 but even that year was profitable, and by 2009 when the market began to pick up again we were doing really well. In 2010 I had run out of space in the Islington office and to continue to expand I needed to either move to bigger premises or to open a second office within the territory. I decided to open a satellite office up in Highbury which quickly became the dominant agent in the area and is now more of an office in its own right than a satellite. In 2012 the franchisee of the Shoreditch branch was selling up and it made perfect sense to add this to the group. It has meant that with these three offices we can be a really dominant force in the triangle it has created, as well as benefit from some great economies of scale. We have recently moved a couple of doors down to a triple fronted shop - as needed more room to grow with the market. I made a foray into the country last year, opening a cold start office in Beaconsfield, which is close to where I live and has certainly reduced my commute significantly as it is where I am based when I am not visiting the other branches. I think the success of all these offices comes down to one observation. Back in 2006 the competition I had in Islington was from the local independent boutique agencies as much as the corporate's and they did very well. However estate agency has changed and slowly but surely the likes of Knight Frank, Cluttons, Faron Sutaria, Felicity J Lord and other big names have all moved into my market, resulting in the smaller agents suffering terribly. If you're interested in joining Winkworth and owning your own office, please contact Gina Piper on 020 7355 0200 / gpiper@winkworth.com

I had been working for the franchisee of Winkworth West End for five years as his sales manager when the opportunity arose to buy the Islington Franchise in 2006. The office there had been established for a long time but had not been very well run for a while and I immediately put in some changes to systems and staff.

It is a credit to the name above the door that we are consistently within the top three agents in the area in terms of volumes of new instructions.

It is a credit to the Winkworth name that it had continued to attract the levels of business that it did, but I soon saw the rewards from my efforts and within a year was making a healthy profit. Unfortunately the recession hit badly in 2008 but even that year was profitable, and by 2009 when the market began to pick up again we were doing really well.

In 2010 I had run out of space in the Islington office and to continue to expand I needed to either move to bigger premises or to open a second office within the territory. I decided to open a satellite office up in Highbury which quickly became the dominant agent in the area and is now more of an office in its own right than a satellite.

In 2012 the franchisee of the Shoreditch branch was selling up and it made perfect sense to add this to the group. It has meant that with these three offices we can be a really dominant force in the triangle it has created, as well as benefit from some great economies of scale. We have recently moved a couple of doors down to a triple fronted shop - as needed more room to grow with the market.

I made a foray into the country last year, opening a cold start office in Beaconsfield, which is close to where I live and has certainly reduced my commute significantly as it is where I am based when I am not visiting the other branches.

I think the success of all these offices comes down to one observation. Back in 2006 the competition I had in Islington was from the local independent boutique agencies as much as the corporate's and they did very well. However estate agency has changed and slowly but surely the likes of Knight Frank, Cluttons, Faron Sutaria, Felicity J Lord and other big names have all moved into my market, resulting in the smaller agents suffering terribly.

 

If you're interested in joining Winkworth and owning your own office, please contact Mark Mountford on 020 7355 0200 / mmountford@winkworth.com.

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