LETTING FRANCHISE GOOD OR BAD
I am looking into starting a letting franchise with a company called REDSTONES. I would like your opinion.
Although you are (may be) buying into a franchise, have you done your research into the competition in the area that you are looking to acquire the rights to?
Even if you are buying a franchise, you still need to go through that whole ‘is there a market place’ research!
There are a number of franchise letting agents out there (Belvoir, Martin & Co etc) and of course local estate agents who have letting departments as well as local letting specialists.
What are Redstones unique selling points? Why would a landlord choose to let through you as opposed to the competition?
Whilst the letting market continues to see great returns with increasing rents, the competition between letting agents is intense – I know as we let a number of properties and letting agents are undercutting each other to get new landlords as clients. Letting agents are effectively using price to get new clients. As a business man, price cutting to secure clients is no way to build a business on a secure footing. For a landlord though, it merely increases profits at the expense of the letting agent.
This may have raised more questions for you, but I hope they get you thinking! If my team can be of further assistance, please feel free to ask.
Kind regards Paul www.startuprevolution.co.uk Get your business moving!
Thanks for your adive Paul.
I am responding a little late.
Did you go through with it? Are you now a business owner what happened?
I am going to buy a franchise next spring. I am 99% sure which one but that 1% doubt has me constantly reviewing other options.