As business owners, every franchisee trading under the Winkworth banner has an important role in the group as well as responsibilities to uphold. Here we outline the five main roles and responsibilities.
Joining a franchised business such as Winkworth removes a lot of the risk that can come with setting up an independent estate agency. Winkworth has been successfully franchising for 40 years so has a solid understanding of the model, supporting each office through back office departments daily and reducing some of the hassle for the franchisees. It’s important to remember however that as they are their own business owners, every franchisee trading under the Winkworth banner has an important role in the group as well as responsibilities to uphold.
Below, the new franchising team at Winkworth have outlined the five main responsibilities of a franchisee:
1. Protect the brand
Although each office in the Winkworth network is independently owned and managed by the franchisees, they all operate under the same brand. Winkworth is proud of its reputation and recognised status on the high-street and so entrusts the franchisees and their offices to trade under the strict compliance guidelines and operating standards set out by the franchisor. This maintains autonomy across the network and protects the brand.
2. Build a strong and loyal customer base
Winkworth trades in the mid-to-upper markets in the UK and relies on the repeat business the offices get through selling and letting properties. Every office is trusted with building a strong and loyal client base by providing high standards of customer service, so the franchisees have a responsibility to ensure that all their employees are properly trained, and the office is always adequately staffed.
3. Promote the business
As well as generating over 1,000 pieces of positive media coverage every year, the Winkworth marketing and PR team work hard to design and develop artwork and unique campaigns for the offices to use to market the brand. It is the responsibility of the franchisees to adhere to the marketing guidelines set by Winkworth and use the flyers, window cards and social media artwork provided to create brand awareness and help promote the business.
4. Manage the success and growth of the office
Although Winkworth franchising support the franchisees and their offices in terms of training, recruitment, marketing, central services, compliance and IT, it is up to the franchisees themselves to manage the success and growth of their individual offices. The franchising and operations team are on hand to help increase revenue, but the franchisees must be proactive and entrepreneurial in generating business on the ground.
5. Take financial responsibility
The first thing a franchisee does is invest in their office. Franchisees need to invest financially by paying an initial franchise licence fee but also be prepared to pay additional start up costs such as refurbishing the office and marketing the business. New franchisees will have to cash-flow their office until it breaks even, normally 18-24 months, and when it makes a profit – reinvest some of that back into the business.
Joining a franchise mitigates a lot of the hassle generally involved in starting your own business but much like any business, it comes with a lot of responsibility. If you think you are ready for that level of responsibility or want to discuss different opportunities Winkworth might have available, get in touch with the new franchising team today.