Buying an estate agency franchise isn't something you should do lightly. You need to consider lots of different factors, like the franchisor, the package being offered and your own situation, in order to make the best possible choice. This is why we have set out below some things to think about which might help you in making the decision.
Being a franchisee
Of course the first thing you need to ask yourself is whether you are suited for it. What are you strengths? Are you a leader? Are you self-disciplined and tenacious? These are basic questions but there are other, equally important ones you need to ask. Will you be supported by your family and friends? Are they ready to put up with you having irregular, and non-traditional, working hours, a heavy workload and even an irregular income
Choosing the franchisor
Once you feel ready to try, you need to know who you are going to be working with: the franchisor. It's very important to pay attention to this because what is on offer and what is expected varies from franchisor to franchisor. Apart from the contract, which you will obviously have to examine in detail, you need to bear in mind two important factors.
The first is the franchisor. Who are they, and what type of people do they work with? How much experience do they have in the business and in franchising, and how do they behave? Is their brand well-known?
What's more you need to closely examine the package the franchisor is offering you. The key question is, what type of help does the franchisor give, especially when you are first setting up your franchise? For example, do they offer training to new franchisees, or shares, etc.? You should also examine the publicity materials they provide.
Becoming a franchisee
To conclude, you obviously don't have to be able to answer all these questions in detail but they can help you choose a good franchisor and enjoy being a franchisee. So now, all you have to do is take that final step and become a franchisee!