What the 20% “cream of the crop” of estate agent franchises cost that the other 80% don’t
It’s not just the monetary estate agent franchise costs you need to consider.
In all honesty, it comes down to the basics of working hard, caring and wanting to be there and being proud of what you do for a living. Some join that were once plumbers in a previous life or schoolteachers or driving instructors. Whilst we have NOTHING against any of those trades, we’re just highlighting that you can come from a different world and think that property is easy.
However, I think you can be very easily put off by it in a short space of time.
Yet, as we know – you have to look at the long game. The best performers are ALWAYS looking five years ahead. They have a five-year plan and know where they’ll take their business. However, if you haven’t got that care and duty about your business, you just get to the end of each month and pray you’ve enough to pay the bills. To this end, people have just bought a business in a box. You can achieve that with a popular franchise like McDonald’s. The Golden Arches is famed for drawing people in – because it’s a world-renowned brand. Yet, others have probably bought a franchise, installed a nice shop front with a nice logo and everything and expected folk to come through the door.
But do such aspects of the estate agent franchise cost system really work?
No, and you can’t leave it. You can’t go and play golf.
Sure, you can if you’ve been doing it for a long time and you’ve implemented a management structure and staff that truly care about the business. Why? Because you’ve got people buying from you. Therefore, you can go and play golf at a moment’s notice . . . That’s fine, but the best businesses don’t do that. The owners are present. They’re in that business EVERY DAY. Yet, if you talk to some of these franchises, they’re working 12/14/16 hours a day – and they’re still finding it tough.
Is that because they’re working too much?
There’s a degree of getting the balance right, but the point of having a franchisor is that they’re looking out for you, so you don’t have to go and do that bit. You don’t have to figure out the training. You don’t have to figure out the recruitment. You don’t have to figure out the props, the technologies and negotiate the deals. They should be doing that for you.