Precisely balanced: The right time to become a franchisee
Working as a self-employed entrepreneur within the framework of a franchise concept appeals to many ambitious prospects with the idea of great financial opportunities, economic self-responsibility and diverse employment fields. The entry into a special market, for example the real estate franchise, seems to be risk free and promising with the strength of an established brand in the back - but is it time for you to take this step already? With the right preliminary considerations, we show you how big your chances of success as a franchisee are at the moment - and whether it is worthwhile to wait with this investment. Engel & Völkers recommends the following basic ideas to anyone who wants to create a perspective as a franchisee.
The preliminary consideration questions one's own motivation:
Why do you consider self-employment to be the next step in your professional career? The answer to this question is a reliable predictor of future security and your long-term motivation in managing your new franchise company. Are you unhappy with your current job, have problems with your colleagues, or the company structure of your employer? Or would you like to impress your social environment by showing courage and risk? In the event that only these or similar problems are the spark for your motivation, it is advisable not to solve these differences with resignation and reestablishment. In the short term, the problems can be solved. In the long run, you may realize that you may not be able to continue your business.
Only if you are convinced by an idea to an extent that you are willing to give up a good work relationship and for which you are willing to spend a lot of time, effort and ultimately also money - only then can you assume your franchise company to be able to stay afloat and manageable even in difficult times.
Competence and character as an elementary key for franchisees
Next, you should determine whether you have the skills to lead a franchise business successfully. Basic prerequisites are professional competencies which vary according to the branch - extended principles in business management, marketing and self-presentation are, however, advantageous in every area. Do not overthrow anything - if you are thinking about becoming self-employed in the premium real estate franchise, but you are not familiar with terms such as vacancy rate, rent adjustment or start-up period, it is advisable to take any further training.
In addition to these subject-specific skills, you should also have strong soft skills. In everyday life as a franchisee, high demands are placed on an orderly management of time, human knowledge, risk-tolerance, cooperation and resilience. If you believe that you are capable of facing the challenges of working as a franchisee, you need to consider another aspect.
Calculate your financial possibilities
Getting into a franchise system always means the need for a material investment to finance licenses, premises and personnel. Please note that in addition to the initial costs, you will also face regular payments that you should not underestimate - neither in the private nor in the business sector. Are you able to carry these loads even in potentially weak business hours? If this is not the case, you may experience a drop in your own standard of living or economic problems in your franchise company. Therefore, you should clarify in advance whether or not you already have sufficient resources at your disposal to become self-employed as a franchisee.
Whether you come to the conclusion that you are ready to enter the franchise partnership, or realize that you still need time: By following these three aspects you have recognized what it comes down to in terms of self-employment. Engel & Völkers has always held an open, transparent position: to expand our thriving real estate franchise system, we depend on highly motivated, dedicated and professional franchisees. For this reason, we attach great importance to the best possible information supply, which we can offer you as a franchisee to familiarize you with the employment as an independent real estate broker. With the strong sound of the name Engel & Völkers, our expansive CI, a unique international partner network and our proven licensing system, you can expect your efforts to pay off soon.
We would be happy to advise you on further details of our concept and look forward to a personal meeting with you!