Starting in real estate and becoming your own boss is your dream, but do you feel it's too much of a risk? Then the real estate franchise system may be for you. The franchise is a model based on a cooperation between an independent real estate agent, known as the franchisee, and a large real estate brand called the franchisor. This system is a win-win for both parties: the franchisee benefits from the image and recognition of the franchisor's brand and has access to its experience and know-how. The franchisor, on the other hand, can expand its network without investing in subsidiaries. But how do you start up as a franchisee? Here are six important points to consider.
There's no good marriage without passion, and this is as true for work as it is for relationships. As a real estate franchisee, you will need to have not only a passion for entrepreneurship, but also for Belgian real estate. Your passion will not only help you stay motivated, it will also be a great asset to your business.
Apart from your own skills and passion, a good franchisor will form the basis of the success of your Belgian franchise business. You will, therefore, need to find a competent franchisor with valuable experience in the field of Belgian real estate. But don't underestimate the importance of the personal aspect. From a large, recognised brand to a smaller but more personal network, what kind of franchise do you prefer? Research thoroughly and find the partner that fits you the best.
The rules and conditions associated with the franchise should also be taken into account when choosing your real estate franchisor. In this regard, each franchise is different. So inform yourself beforehand and check in advance if you will be in agreement with the proposed conditions.
Is there a market for your franchise formula? How is the competition doing, both locally and nationally in Belgium? What will be the specific needs of your potential real estate clients? To answer all these questions you can research the different turnovers and carry out market analyses. You will need to determine whether your business, as you conceive it, will also be able to make you money.
This may be obvious, but it is imperative to have an overview of your financial status before embarking on a Belgian franchise. A business plan is just as important. This balance sheet of your finances will not only be necessary to apply for a loan from the bank but also to be able to make any kind of decision in a clear and informed way.
Being independent affords a certain freedom, but also brings many responsibilities. As your own boss, you can shape your franchised real estate agency as you wish, but you are also solely responsible for the success of your business. This work can be hard, but seeing your business succeed brings incomparable satisfaction.
These are six things to consider if you want to establish yourself as a franchisee in Belgium. Of course, these points are just the tip of the iceberg. To get started as a real estate agent franchisee, you will have to do extensive research, sign a contract with a franchisor, look for premises, etc. But rest assured: your work will soon bear fruit! Take your first steps in real estate franchise in Belgium – your dreams are within reach.
Engel & Völkers offers an internationally proven franchise model. Thanks to its internationally renowned brand, its comprehensive support system, and its global network of franchisees, Engel & Völkers will guide you step by step towards the success of your business. Are you interested? Click on this link for more information.