How to fund it is one question many ambitious agents ask when they are considering making the move. As the first and most successful franchised network, Winkworth has helped scores of individuals to run their own offices with the support and expertise of the Winkworth team.
Lucy Britton, Head of Talent and Recruitment at Winkworth, says: “We will suggest ways of raising finance to become a franchisee. Some people are fortunate to have cash they can invest while others will seek bank finance, which typically would be around 70 per cent of the costs of setting up the business and its first year running costs. We will help with creating a business plan and forecast plus all the tools a bank would expect to see from a prospective business owner.”
Another route to funding it is by working as a manager within the Winkworth network. You could be matched with an office where the franchisee is looking to exit the business in the future. Equity shares based on performance would help to build up the funds needed for the part purchase of the business and eventually the entire business when sufficient funding is in place and the incumbent franchisee is ready to retire.
Occasionally, there are opportunities where Winkworth Franchising will assist with funding when an agent is managing a market-leading office.
Lucy Britton, Head of Talent and Recruitment at Winkworth, said: 'Winkworth are always looking for the franchisees of the future and we will provide all the assistance and advice needed to fund the move and plan for the growth and success of the business. When appropriate, we are also keen to look at more bespoke solutions, depending on the individual involved.”
If you are interested in finding out more, contact Lucy Britton, Head of Talent and Recruitment at Winkworth, on [email protected]