Engel & Völkers Licence Partner Regional Office Belgium > Blog > 10 essential skills to guarantee your franchise in Belgium is a success

10 essential skills to guarantee your franchise in Belgium is a success

Have you been dreaming about setting up your own estate agency for quite some time now? And the franchise system, a partnership between an independent agency and a big brand, seems to be the safest way for you to achieve this? Indeed, a good business plan, effective marketing and a renowned franchisor are all necessary elements for your business to be a success. But if you want to stand out from the crowd in the Belgian estate agency market, you have to go a bit further. Here are 10 skills that will guarantee your franchise will be a success.

Perseverance, determination and responsibility

These essential qualities shouldn’t surprise you as they’re a fit for any good entrepreneur in Belgium. The first of them is perseverance. In particular, when launching your franchise, you will have to persevere, even if you suffer setbacks or if the tasks you face are challenging or not very interesting.

When setting up your own business, always make decisions on your own and don't allow yourself to be too influenced by other opinions. Be determined to follow your own path. As the manager of your franchise, at times you’ll have to make decisions under pressure. Trust in yourself, irrespective of other people's opinions.

You have to be determined and ready to make difficult decisions because you're at the helm of your business. You must therefore take responsibility not only for your actions, but also for your entire estate agency. Taking responsibility is essential for any good estate agency entrepreneur.

Risk assessment, the performance concept and the market view

If you’re ready to take on the responsibilities of a franchise, you know you’ll need to think before acting. Knowing how to properly assess the risks of certain plans is essential for any Belgian entrepreneur. But, you should never blindly rush into a new business. Consider challenges as opportunities. Staying optimistic will always help you achieve your goals.

One of the risks you may encounter is a bad investment. Having a concept of performance and giving intelligent thought to how your franchise should operate are good ways of guaranteeing its success. You have to find the right balance between your investment and your workforce, your money, and your results. Always keep an overview of your performance and the factors that influence it.

It’s essential to never lose sight of fluctuations in your profit and losses. But you shouldn’t forget to have a clear view of what's happening in the Belgian property market. Stay abreast of trends and developments, and keep an eye on your competition, so you can differentiate yourself as much as possible.

Client focus, persuasiveness and networking

Being an entrepreneur in Belgium means being at the centre of many relationships. The first of these, and perhaps the most important, is the one you nurture with your client. "The customer is king" and your estate agency should always stick to this motto. This will help you attract new clients and hold onto them afterwards. So always think about the best way to offer the highest quality service possible.

Being persuasive will also be vital. Always be sure to use convincing arguments in negotiations as well as with the people around you. Persuading someone in a positive way can enthuse another person and convince them to follow your reasoning.

As a franchisee you have access to the franchisor's network which includes all the franchised agencies. Use this advantage to win some clients and retain others. However, never forget that this relationship works both ways. So, let other members benefit from your expertise.

Being a franchisee in Belgium: Making plans for the future

Finally, being a franchise means looking to the future. Stay focused on your goals and stick to a firm plan. Assess the situation regularly to make sure you're staying on the right track. This tenth skill, as well as all the others, will guarantee success for your estate agency. Have you already set some goals? Armed with this knowledge, nothing will stop you on the road to success.

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Engel & Völkers
Licence Partner Regional Office Belgium

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