Franchise Networking days producing rewards
Steve Roulstone - Director, Castle Estates
At Castle Estates we have regular Network Days where all of our Franchise offices get together and discuss our Industry at length. They give Franchisees the chance to discuss various issues with their compatriots, talking over problems that have occurred, sharing successful ventures and opportunities and trading methods and trends with each other. When we put these days together, we always try to have a central theme running through them, so that our offices can review what they have seen and review an area of trading all in one day. In the past these themes have been Web awareness, Property Insurance and associated products, Changes in legislation and Advertising.
Making the most from contacts
This was the theme from this week’s get together and the success of the day has prompted me to put ‘finger to typepad’ and comment in this way. The contact and support that flow through these days mean that they become a seminal part of being a Franchisee. This, I believe is one of the major reasons that Franchising offers such a popular route to business success. Every Franchisee appreciated just how important it was for their colleagues to purchase a Franchise and respect is automatically granted. This is then shown through the discussions and ideas that flow through the day. They need to be seen to be understood, but I have never witnessed a similar scenario in any other type of Business meeting and I have attended many conferences and seminars over the years.
Property Portals
We had two portals represented on the day and both offer a different view to the market place. Gumtree only offer the Lettings Market on their site, whilst Rightmove as the market leader are a site that any self-respecting Letting Agent has to be seen on! As a result of the presentations, all of our offices now understand the options and services each portal offer, for as a punter you would only see the front end of the sites, whereas as a customer, there is a whole sea of reports and functionality available to us to help us understand where and why our prospective Landlords and Tenants visit us. The problem being just how difficult it is for everybody to understand the nature and power of the services these functions provide. It is safe to say that this style of day ensured that everybody left with much enhanced knowledge and will now utilise the functions to their benefit.
Landlord Insurance
Specialist Insurance is something that I have spoken about and something I recommend all Landlords to use, but again, following a procedure that has lasted a full 18 months and as a result of a Rental Industry supplier that has listened to what we have told them and offices that have taken on board what their peers have recommended (length of service and experience being paramount) we now have a situation where the whole group is moving forward in an innovative way, using this crucial Landlord requirement.
The future
Add the specialist software designed to ensure we make the most from website visitors that we discussed and the meeting was heralded by all to be a great day and this is the point. Only with Franchising are such progressive steps made so easily, because of the willingness from all present to share, assist and develop everybody’s business, not just their own. It is in the interest of every Franchisee to see progress for all offices in the network and there, in finishing this article, is that word again:
Network: only truly available through Franchising!
Franchise News: Advertising against Google? A closer look
Steve Roulstone - Director, Castle Estates
More often than not, I receive several requests to advertise in either the National press or a periodical associated with the Franchising Industry every week. Nothing new there! Indeed I take my hat off to the people charged with selling the advertising space for their continued persistence and enthusiasm for the task at hand.
How do they send the message?
But it has been very noticeable of late, that I am receiving less and less phone calls and more and more requests via e-mail. Not only that but we receive about an equal split between those who use a full page style of e-mail representative of a page from a magazine and those who send a personalised e-mail, no doubt designed to encourage the recipient to feel more at ease with the sender!
Bit of a contradiction!
I do not know if I am the only person to spot this, but what I perceive as a more concentrated effort to be successful, probably driven by the downturn in the Franchise market place, which we all know is out there, is pandering to its major competitor by utilising one of its most successful styles of communication introduced by the web, namely e-mail to get the message across, about the type of media, they wish to get the message across about, namely the written word!
They are not alone.
I think for the Lettings market to which my Franchise belongs, the clearest indication that web activity is more important than papers or magazine presence, is that nearly all local newspapers that derive an income from advertising property, for sale or for rent, are now running their own web site to ensure the income is not lost. Says it all really!
If I am bombarded by those wishing me to spend my hard earned income through the written word, I am equally bombarded by just as many (thankfully ALL by e-mail!) trying to do the same through web site optimisation. Now I think I made the correct decision on this front some time ago and the work undertaken by the Company I employ has ensured we are where we want to be (or getting their – if it were only that easy!) on page one of the most relevant searches, but let me ask you a question – what is the first page you open when on the internet? How many said Google?
First to be first!
This is one of those situations where the preacher preaches the gospel yet is already converted. There is no doubt that web presence and by that we all know I mean on Google is the Holy Grail (and if it is not it soon will be) for all advertisers. But how good that the very method by which we wish to achieve this presence is by a country mile, the most commonly used ‘first page’ we seek when starting our own regular thirst for knowledge. A case of proof being not just in the pudding, but in the starter, main course and coffee and biscuits as well!
The benefits of a Property Franchise Business
Steve Roulstone - Director, Castle Estates
Last year I wrote a Blog about why somebody should choose a Property Franchise when looking for a new future in Franchising. This week some figures have been released as a result of the Communities and Local Government English Housing Survey for 2009-2010, which confirm if ever there was a right time, that time is now!
Increase in Rental properties
The figures released based upon a survey of a total of 21.5 million properties in England, has shown what can only be described as a mammoth increase in the Private Rental sector over the preceding twelve months, which even outstripped the increase at the start of the housing sales slump in 2008 of 1.2%. This time the increase is 1.4% and this is confirmed by recent news items, suggesting that demand could see this increase outstripped during this current year. Indeed figures are being discussed which would give another record increase approaching an additional 2% possible this (current trading) year.
Steady growth
The overall percentage in the private rental sector as shown in this survey is now 15.6% (Current figures being discussed are 17%) with the social rental sector now falling to 17%, it clearly looks as if private rented property could overtake the social sector to become the largest sector, within the next twelve months. In big round numbers, this is an increase of nearly 300,000 properties in one year, which is all additional potential business for Letting Agents, at a time when more and more self managed Landlords are also turning to the Industry.
Effect on local markets
So how does this affect local markets, well let’s look at Birmingham, who confirmed 420000 properties within the City Council boundary paying Council Tax last year. 1.4% growth would represent a potential of up to 6000 additional properties, which, at £1000 average earnings per year as a conservative estimate, would produce potentially £6 million pounds additional turnover for the area. Even in a quarter of the City, £1.5 million additional turnover, should encourage anybody able to make a start in Franchising, that the market is buoyant and still growing.
Continued growth
But it is not just the current growth which is encouraging, for the market has shown growth of over half of one percent year on year for the last decade. What is happening now is a clear sign that this growth is constant and growing. The icing on the cake for Letting Agencies is that the number of potential Tenants continues to grow. This has also been widely reported in the press, and again in a period after this latest survey. So never has there been a better time to become a Letting Agent so you will have to excuse me, whilst I go and make sure there is a clear path to my door!!
Steve Roulstone is the Managing Director of Castle Estates Franchising Ltd
