Many franchise opportunities now exist in the lucrative and fast growing property market. The property business is awash with money as property prices continue rising and new property millionaires are created daily.
There are many different types of property franchises available in the market today. They include mortgage broker franchises, letting and property management franchises, property search franchises and estate agency franchises. There are even property franchises that specialise in finding overseas homes and property investments.
Some of these franchises are work from home opportunities like property management. The franchisees main tasks include collecting rent, making sure essential repairs are carried out and communicating with both the tenant and the owner of the properties.
This business can be worked part time or full time and in the right location it is possible to build this into a very lucrative business. If the franchisee provides good service then word of mouth will spread and finding properties to manage will be easy.
Often a successful franchisee will find that he has to stop taking on more work or start taking on employees and open an office near the town centre once he reaches a certain threshold.
The franchise fee is low and means that this franchise will be within the budget of most franchisees.
The mortgage industry is thriving and lenders are offering up to seven time’s annual salary to fund property purchases. There are so many different types of mortgages available that the public often needs a mortgage advisor to find their way through the maze.
This is another opportunity that can be run from home although this type of business will not be suitable for somebody with a young family as most of the work is done in the evenings.
The franchisees main task involves meeting people at home in the evening and carrying out a fact finding mission so that a suitable mortgage which best suits the needs of the buyer can be found.
The franchisor will already have secured preferential rates for their franchisees which will enable them to find a suitable product and save money for the buyer whilst at the same time earning a decent living through the commission payouts. There are other sources of income which include life assurance and other insurance policy sales.
This business is more sales oriented unlike a property management business. It is essential that potential franchisees realise the sales aspect and the fact that they will often have to work evenings.
Estate agency franchises are a different kettle of fish. Initial investment is much higher then the two options highlighted above. A high street location is needed and some employees required.
In some estate agency franchises, the franchisor will set up the office and each person working in the office will be an individual franchisee.
The public is generally unaware of this fact but this can lead to conflicts between the franchisees as they fight over customers. The earning potential is huge especially in more affluent areas as the franchisee makes a small percentage of each sale.
A property franchise is a very good way to escape the rat race and start a business but the work is often in the evening and most are sales oriented so chose the right franchise that fits in with your skills and lifestyle.