ADVERTORIAL
Why property franchising makes good business sense in today’s market
Opening a real estate franchise has been a thriving and successful business model in South Africa for decades. Despite the challenges currently facing the South African economy, property continues to prosper and provide entrepreneurs with the opportunity to own successful businesses and become leading members of their local business communities.
“The residential property market is a dynamic, thriving industry offering substantial career opportunities. Joining a property franchise business gives entrepreneurs the opportunity to align themselves with reputable, established businesses with a national footprint that have invested in their brands and have access to international networks,” says Russell Berkman, Franchise Director at Jawitz Properties.
What potential property franchisees should consider
Before entering the property franchising industry, there are several important factors to weigh up carefully.
Sufficient start-up capital is essential. The initial investment required to open a franchise, along with the ongoing monthly costs of running the business, can be substantial. Income from sales and rentals may be slow in the early years, which makes solid planning and adequate funding critical.
Owning your own business means taking full responsibility. A well-thought-out and well-executed business plan is vital. The first two to three years typically involve long hours and can be financially demanding, as with any start-up, but the long-term rewards of owning a franchise and directing your own future can be significant.
This is a demanding industry that requires resilience. Entering the business with the mindset that it will be more challenging than expected, rather than assuming smooth sailing, helps prepare franchisees for the inevitable hurdles along the way.
Why property franchising makes sense
The long-term outcome of being a successful property franchisee is financial security. Owning a branded office creates a tangible business asset, while the credibility, operational support and brand promise give clients confidence that they are dealing with a professional and trustworthy organisation.
Being part of a major brand offers a clear advantage over operating as a small, independent agency, particularly in a highly competitive market.
Property is a cyclical industry influenced by factors such as inflation and interest rates. Drive, initiative and resilience are therefore essential traits for success. Absolute professionalism, integrity and a strong commitment to exceeding client expectations remain fundamental to building a sustainable and rewarding property franchise business.
