partnerships

What is a partnership / a franchise with Just4Let?

Step 1
Calculate at the beginning, what you can afford to invest and what borrowings you are prepared to take. Also pay attention to the returns that the business will generate for you. Do this before you commit to something that you cannot afford or that cannot support you, your family or your lifestyle.

Step 2
Decide What are you good at doing, what do you want to do and what will your family life and personal circumstances prevent you from doing? If you cannot bear the public, then a consumer-facing business, such as a letting agency, may not suit you. Equally, if you take the kids out every weekend a business that requires weekend work may not be your best option.

You don’t have to stay in the industry that you have worked for your whole life, but you should be going into something where your experience or skill will benefit you.

Step 3
Speak to trade associations for the operational business. Use the internet to research the business that you will be involved in. Those entering franchising are sometimes blinded by owning their own business, they need to understand what that business actually does and the market in which it operates. Make sure that you research the market.

Step 4
Research is of paramount importance. If you can, Speak to current franchisees, of your choice. This may be managed and not every franchisee wants to speak to you, but don’t just settle for the ones you are given. Look for franchisees with a background like yours or ones at differing stages of development in different areas. Also research the franchisor. What is his/her background? How has the business grown? Have they lost any franchisees? Evaluate the support, the value in the costs and the nature of the agreement. They will all the while be assessing you to decide whether they want you.

Step 5
Take your time in this process not somebody else’s. Make sure that you have been thorough in your research. During your due diligence you will need to take professional advice from banks, solicitors and accountants. Make sure that when you do, they illustrate understanding in franchising, or partnerships. The most important aspect is if you are unsure, then you haven’t researched enough.

Who is in Control
Each business outlet is owned and operated by the franchisee. However, the franchisor retains control over the way in which products and services are marketed and sold, and controls the quality and standards of the business.

What are the Cost Implications
Just4Let will receive an initial fee from you the franchisee, payable at the outset, together with on-going management service fees - usually based on a percentage of annual turnover or mark-ups on supplies. In return, Just4Let has an obligation to support the franchise network, notably with training, product development, advertising, promotional activities and with a specialist range of management services.

If you'd like to get on the first rung of the ladder please feel free to call us on :-

0845 257 43 44 or

us here info@just4let.co.uk