How to set up your own property franchise in Belgium

So, launching yourself in the property business in Belgium and setting up your own estate agency has long been your dream. You've looked into getting your project off the ground and stumbled across the franchising system, which involves a partnership between an established brand name, referred to as the franchiser, and an independent agency, the franchisee. This seems to be a promising model to you; in fact it's been proven that the success rate of franchises in Belgium is higher than that of non-franchised startups. But in order to be certain your project will be a success, you still need to ensure you make the right choices. Here are the steps you need to take when setting up your own franchise.

Evaluate the risks

Firstly, of course, you need to evaluate the basis and starting point of your project: you yourself. Basically, and before launching and investing in your franchise, you need to be fully aware of the future risks your project entails, and you need to know yourself. The best way of doing this is by asking for help from those close to you, i.e. your family members and friends. Together, you need to consider the following questions: what is your personal and financial situation? What are your strong and weak points? Where in Belgium do you want to set up? Are you flexible in terms of the location of your agency?

All these questions will help you determine what type of franchiser will suit you best. Would you prefer a large brand that's already well established in Belgium and already has numerous agencies in the country? Or would a franchiser that's just getting started and only has a handful of franchisees be better suited to your situation? These two types of franchises present different types of risks. So base your choice on your personal situation and your own preferences.

Prepare to meet your franchiser

After choosing the type of franchise you want, it's time to start searching for your future franchiser. This is the first concrete step you'll take in your project, so make sure you have the support of those around you during these first few weeks. Make a list of all the estate agency brands in Belgium. Next, contact your chosen franchiser/franchisers so you can arrange an interview/interviews.

As with any interview, you need to be properly prepared. It's strongly advisable to draw up a list of questions in advance. Here are some examples of things you can ask to ensure the franchiser is right for you: How much do I need to invest? What initial and ongoing training do you provide? Can I have a list of your franchised agencies in Belgium? Would it be possible to visit a few? Could I take a look at their latest audited accounts? Make sure you have the advice and support of professionals, i.e. an accountant and a solicitor, when reviewing the answers to these questions.

The Belgian Document d'Information Précontractuel

In Belgium, all franchisers are required to provide a Document d'Information Précontractuel, or D.I.P. This document contains all the information the future franchisee needs, but does not require any commitment on the latter's part. Often, the franchisee will not receive the D.I.P. at the first meeting, and the franchiser may also require the future franchisee to sign a confidentiality agreement beforehand. But do bear in mind that the franchiser is required to provide you with this document by law.

Once you have your Document d'Information Précontractuel, make sure you get a solicitor to take a look at it. It's best to use one who specialises in property franchises in Belgium. This will enable you to better assess the viability of your business and estimate what the future profits are likely to be.

Launch yourself into franchising in Belgium

If you've followed all these steps, you'll no doubt have found the franchiser best suited to your needs. You can now set about the task of setting up your own estate agency. If you haven't yet found the right franchiser, don't give up and throw in the towel! There are plenty of major franchisers in Belgium, and with enough perseverance and discipline, you're sure to find the right one to suit you. So don't waste any more time, and start setting up your own franchised agency in Belgium right away!