Making a career change is always exciting, but it’s quite a daunting prospect as well. If you’ve been considering running a property management franchise, you might well be wondering how you could make this transition easier. One of the best ways to get yourself one step ahead is to ensure you choose to invest with the right property management franchise for you. But how do you do that?
Both the UK and global economy has been through some difficult times recently. The outbreak of the COVID-19 pandemic back in 2020 deeply affected a huge number of industries. However, one of the few sectors able to ride the wave and come back stronger on the other side was the property management sector.
In fact, in December 2020 it was recorded by the Land Registry's UK House Price Index that there had been a 32% year-on-year increase in property transactions. This has further resulted in an 8.5% year-on-year rise in property prices - so there’s really never been a better time to be considering making a career change with a property management franchise.
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Why make a career change with a property management franchise?
As mentioned above, the property management industry really is booming right now on a truly phenomenal scale. Back in January 2021, UK estate agents had over 582,000 properties - worth an estimated total value of £143 billion - waiting in the For Sale and Sold Subject To Contract pipeline.
When you start your own property management franchise, you’ll become a franchisee for an industry that benefits enormously from marketing and is famously easily marketable. Finding customers will be fairly simple, through website promotions and other means - all done with the support and direction of your chosen franchisor.
There are also a number of advantages to running a property management franchise. The property management sector also operates year round, so you can look forward to steady growth and plenty of custom month after month. As house prices continue to grow, your financial future is secured for years to come.
How to choose the property management franchise that’s right for you
So, hopefully by now you are convinced that the state of franchising in the real estate sector is currently so positive, making a career shift at this time is definitely the right move. The next crucial step is to look into your franchising options within the property management sector and decide which one is the right franchise for you to invest with.
1. Start a property management franchise
Perhaps the best place to start is looking into investing in a tried and true property management franchise. Once you invest, you’ll have access to your chosen property management franchise’s property portfolio, plus any training and support they have on offer to get you ready for trading whenever your franchise opens its doors.
If this sounds like the right option for you, you can’t go wrong with an investment in Luke Stays. This franchise has been in business since 2018, and has been going from strength to strength as one of the fastest growing property franchises in the UK.
Running a property management business isn’t easy. And with so many property owners being let down time and time again, Luke Stays stepped into the market ready to shake things up. With the help of specialist and bespoke technology, this franchise guarantees the smooth operations of your property, and a healthy margin to go with it.
- Luke Stays
Luke Stays is on the hunt for aspiring franchisees who are looking for a fast start in the world of property, and have the motivation and financial capital to make this dream a reality. You will need to make a minimum initial investment of £11,997 +VAT.
In return for your investment, you’ll reap the rewards of over 100 hours of training - both initial and ongoing. You’ll also get a budget for investing in your marketing and sales launch, plus plenty of support with marketing. If you're serious about taking on this business endeavor, Luke Stays is there to support you every step of the way.
2. Start a property inventory management franchise
Another avenue you might want to consider going down is starting a property inventory management franchise. A great investment option in this sub sector is the franchise No Letting Go, a leading supplier to the lettings industry.
Well established in the lettings industry, No Letting Go has been trading for over 14 years in this niche sector and has set their mark upon it. Their services aim to protect landlords in the event of damage and neglect to their property or properties during a tenancy - a service that has increased in popularity as deposit claims are on the rise.
One of the best things about investing with Not Letting Go is that it does not require any aspiring franchisees to have previous industry experience. They are looking for hardworking and ambitious people who love delivering fantastic customer service and have a positive, can-do attitude.
You’ll need to make a minimum initial investment of £17,950 and will also pay a monthly advertising fee of £200 and a royalty fee charged at 10%. For your investment, you’ll receive a comprehensive programme of training on everything from accounts to business planning. You’ll also have ongoing support once your franchise is up and running.
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3. Start a property claims management franchise
Another investment option in this industry is a property claims management franchise, and there’s little better to invest with than Aspray. Aspray has been trading since 2005 and seeks to support homeowners when they make insurance claims.
To invest, ensure you have a strong interest in the property industry as a whole and possess excellent project management skills. You will need to make a minimum initial investment of £15,000, with franchise fees of £28,000 and a total investment cost of £43,000.
Once you have invested, Aspray will get you started on a 10-day programme of induction training from industry experts in line BDMA standards, plus ongoing support throughout your franchising journey with them.
Become your own boss today with a property management franchise
Hopefully, this article will have given you the tools you need to choose between the top property management franchises in the UK and find the right one for you. Stick around on Point Franchise and read up on what it takes to run a property management franchise to make sure you’re as prepared as you can be.
Hannah Burnett, Point Franchise ©