Franchising: what it really is all about

The decision to start a franchise system depends mainly on your state of mind. In addition to the commercial and financial aspects, your state of mind is decisive. Do you feel comfortable between customers on the one hand, and the franchisor's organization on the other? In other words, as an entrepreneur, you must also be part of an umbrella company. Not always easy for people who want to make 100% of the decisions themselves. Not all entrepreneurs are suitable for franchising.... As an entrepreneur or beginning entrepreneur, you must first of all feel attracted to the franchise concept.

A number of questions can help you in this process:
What are your strengths in relation to your passion?

It is essential to know your personal skills! The passion for real estate is important, customers react immediately when a real estate agent shows enthusiasm in his work. Passion is the most important driving force to give the best of yourself every day. But passion alone is not enough... Some competences are also essential: customer orientation, creativity and entrepreneurship. The rest can be practiced.

Is the real estate franchise concept right for you? And do you agree with the franchise?

A first question to ask is the following: Do I fit into this type of system and does it work for me? You do this by being ambitious but also realistic. Look at what you are looking for in a franchise concept and what the franchisor expects from you.... Do you think there is a good fit? The answer to these two questions should be a resounding Yes'.

What is the role distribution?

In addition, the success of a franchise collaboration depends on a good division of tasks. As a franchisee, you should not want to do everything by yourself, but consciously choose to leave a number of aspects (such as IT, branding or global marketing strategy) up to the franchisor. This allows you to focus more on sales, rentals and customer service. The formula has already proven its success, so it is now up to you to achieve it successfully.

Do you get an exclusive territory?

Usually, the franchisor designates a specific area in which the franchisee will be allowed to develop its business activities. Since the volume of transactions determines the latter, which also determines the turnover you should achieve, it is of course important to know to what extent other actors in the region can also develop their activities. That's why it's important to know if you're getting an exclusive territory. At Engel & Völkers, this is the case!

Engel & Völkers strives to respect the local identity of each region in its division into franchise areas. Franchise areas are defined in such a way that maximum emphasis can be placed on all aspects of the local market. Our brokers are experts in their field, but also know their work area. Not only the infrastructure, but also the potential customers who live there. As a result, the level of service is very high. We therefore have many demands on our future partners. On the other hand, Engel & Völkers offers territorial exclusivity, a very important support, a renowned brand and a large international network.