In spite of the economic fallout of Covid-19, the property market has continued to operate at near-normal levels, making franchise opportunities in the property management sector very attractive. Here are just five advantages of running a property management franchise.
Despite the challenging economic climate, the UK housing market is soaring. As one of the few sectors that has been able to remain at normal levels, property management franchises can look forward to better days with optimism.
With exciting projections and optimism aplenty, becoming a franchisee in the property management industry could give you the freedom and knowhow to make property management work for you.
The current state of the property management industry
As touched on above, the housing market has been one of the few sectors that has managed to buck the trend of bleak economic news. Not only have many franchisees been able to keep working, but many have been able to keep operating at near-normal levels. Some are even seeing record interest.
In December 2020, the Land Registry’s UK House Price Index recorded a 32% year-on-year increase in property transactions, resulting in a 8.5% year-on-year rise in prices. So with one eye on positive economic forecasts, there are plenty of reasons to be optimistic.
As the housing market grows, demand for talented property management franchisees will only grow, so there has never been a better time to consider opening your own property management franchise.
Not sure if running your own property management franchise is the right move for you? Here are five advantages to running your own property management franchise.
What are 5 advantages of running a property management franchise?
1. You’ll have a future proof income
House prices are growing, and more and more people are making the decision to move closer to more spacious, greener areas. But even if the housing bubble pops, people will always need somewhere to live, whether they’re buying or renting. As a result, the property management sector is an in-demand sector and can expect to see exciting growth in the future.
As a property management franchisee, you’ll be in a perfect position to benefit from this growing sector. And with many businesses in the sector continuing virtually as normal throughout the pandemic, you’ll be working in a growing sector, with no concern for your future job stability.
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2. Property management franchises are easily marketable
As a property management franchisee, you’ll almost certainly benefit from marketing, web and sales support in selling your services to potential customers. This means that you’ll reap the rewards of often decades of experience, perfected training programmes and expert sales advice. As part of a big, market-leading franchise, finding customers won’t be difficult.
Not only that, by working in the property management sector, you’ll be working in an industry that operates all year round. Property management is an essential service and as a franchisee at the heart of the industry, you won’t ever have to worry about selling your service.
3. You’re well positioned for quick growth
The property market is growing. And fast. The government is committed to building new houses, and with the number of renters expected to rise to six million in the next five years, you will be in a prime position to grow quickly in line with the market.
Many franchise agreements also provide dedicated business and growth managers. If you were looking to open a franchise for Century 21 for example, you would benefit from a dedicated business manager who would support you through your launch and business plan compliance.
Century 21 is one of the largest property management and estate agency franchises in the country. If you’re looking to open your own business as a franchisee, you can see more on Century 21’s profile page.
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4. Setting up a property management franchise is affordable
You won’t need to invest large portions of your income to open a property management franchise. The average price of opening a franchise in the UK is £42,200 [British Franchise Association], but in the property management sector, you’ll often be able to start your own franchise for much less.
To open a franchise with Century 21, you’ll only need to make a minimum investment of just £10,000. With another leading property franchise - No Letting Go - you’ll be able to get started with a minimum of £17,950.
Even if you can’t quite make the initial investments, most major banks are willing to offer loans of up to 70 percent to individuals looking to open a trusted business, providing you can pass credit and income checks. Starting a profitable business in the property management sector has never been more affordable.
5. You can work flexibly
One of the biggest pros of running your own business is the flexibility that you have to set your own hours. When you’re running your franchise you’ll be able to choose the hours you work, and where you work from, meaning if you’d rather be working from home, you can do exactly that.
Depending on your schedule, how much you’re looking to earn, and the size and scale of your operation, being a franchisee will allow you to take control of your work-life balance. Whether you’re in the early stages of your career or an already seasoned career professional, having the freedom to choose your work schedule is something many people dream of.
Running your own business is never easy, but knowing that you have the ability to change your work schedule based on what suits you is a big benefit to running your own franchise.
Interested in running your own property management franchise?
If you’re now convinced that running a property management franchise is the right move, you can find out more about becoming a franchisee by clicking on the profiles of some franchises linked above.
Or, if you’re interested in opening a franchise in another sector, you can see a full list of available opportunities by clicking on Point Franchise’s UK franchise directory.
Elliott Fudge, Point Franchise ©