Monday, October 2, 2017

Starting a Real Estate Franchise

Properties on Your Mind? Get a Head Start on your own Real Estate Franchise 



Love properties? Of course you do! Who doesn’t? There’s the freedom of being your own boss, and the satisfaction of success if you finally make it big. Real Estate Franchising may be a portal to the realisation of your entrepreneurial dreams, especially if you’re fond of properties. Here are some of the top tips to nudge you in the right direction. 

1. Learn from the Best 

It’s key to observe and ask. You can’t be expected to know everything straight out. Get to know people who are in the same line as you and are successful. If you’re getting into a real estate franchise, you need to learn what a franchiser does best. Observe what they do, and learn from their mistakes. When you are around like minded people, you start to think like them and stay motivated. 

2. Do you REALLY love Properties? 

Rome wasn’t built in a day. Neither was any successful business. If you’re in it just for the money, riding the bandwagon like countless others, avoid venturing in. Not to dissuade you from your pursuits, but goings may get tough in the future as housing, commercial markets. You need to be prepared to battle that crunch financially as well as mentally. If you’re driven by a passion for real estate, and not just the money, you’ll love it; through thick as well as thin. 

3. Outsource Costly Jobs 

When setting up any business, you are sure to face budget constraints. Startup costs can add up. A rule of thumb is to overestimate costs but reduce them wherever possible. Doing this without compromising on service quality goes without saying. Outsourcing your payroll is a cost-effective way to attain the savings you need in the early years of your franchise. It enables you to save up for a rainy day and allocate more funds to more pressing issues. Focused outsourcing takes special care to have your payroll managed in accordance with the country’s laws. 

4. Establish your Brand 

Promoting your franchise is one of the tenets of good business. Don’t become complacent with it. Keep at it with your marketing efforts with local newspaper, magazine, and radio advertisements. You can opt to have flyers distributed as well. TV, although it gets a lot of coverage, is far too expensive initially for your franchise. Web ads are also a cost effective tool when it comes to advertising your franchise. Place online ads wherever your target market (property buyers and sellers) are present.

 It really makes a positive impression on people if you do branded marketing giveaways upon completion of a deal. This may be a keychain, a desk clock, stress reliever (perhaps a fidget spinner) or a diary with your brand name and logo on it. Remember: A little extra goes a long way. 

5. Never forget about Clients or Employees 

Keeping with the last tip – never forget who you’re serving. You spend all of your hard earned resources including money time and energy on getting your customers on board. Pay special attention to those who are unhappy. If your website involves reviews, cater to negatives and positives, online as well as in real life. Address client concerns and rectify your franchise. Same goes with motivating employees. Always address concerns, always!

1 comment:

I love comments!! Thanks for taking the time!