Franchising Opportunities In A ‘Recession-proof’ Industry

If you are considering going into business for yourself, but you would prefer to have the back up of an established business team behind you and a proven business model from which to kickstart your enterprise, then franchising could provide an obvious solution.

One of the most attractive things about franchising is that you will get plenty of help in setting up your business – and while there will be guidelines you will need to adhere to, there is frequently scope to put your own stamp on the operation by adding your own personal touches. It’s the kind of venture that suits the business traditionalist as well as the entrepreneur.

The other unique aspect about the majority of franchise models is that franchisees do not generally need any prior experience in the field. So as a potential franchisee, what it boils down to, is what type of business really interests you.

Because of the state of the current housing market, analysts are predicting that this year (2013), will see 1 in 5 of us renting properties, rather than buying. In some cases renting may be a lifestyle choice, or it may be forced upon us if we are not in a position to get onto the property ladder. Either way, property management is considered pretty much a recession-proof industry.

So how might you go about securing your property management franchise?

As with practically everything these days a Google search is a great place to start. Organisations such as the British Franchise Association and the International Franchise Association provide free information and you can always subscribe to The Franchise Magazine (or browse their latest edition online). There are also several dedicated franchise exhibitions around the UK, most of which offer free entry to visitors.

You can reasonably expect your franchisor to offer first class practical training and ongoing support or mentoring on a ‘bespoke’ basis. They should also provide state-of-the-art property management software which will make running your property business a whole lot easier.

Many franchisors will offer presentations and informal get togethers for potential franchisees, where they will provide an overview of the business model and perhaps run through the benefits of their property management software, so you can get a feel for the business and decide whether it’s for you.

And as with any kind of serious financial commitment, you should always seek advice from a qualified professional before entering into a formal contract.