There are seven simple steps to becoming a Belvoir Franchise Owner…
Step One: Send for an Info Pack
At Belvoir, we really want you to do you homework about us. This can be done a number of ways. Firstly, may we suggest you have a look around this website? (the grey box above this text has six pages of information, with sections such as 'A look at the Lettings Industry' and 'What makes Belvoir the franchise for you'). There is also the news, testimonials and useful links sections at the top of the page). We also have our own YouTube Belvoir Franchise TV channel, which can be acccessed by this link, with lots of great videos about starting your own lettings agency.
To start the process, we can send to you in the post or via email, our INFO PACK containing our full and extensive brochure on franchising with Belvoir, case study information and our recent Awards Brochure. The INFO PACK is totally free and without obligation. To receive an INFO PACK, either Click on the ‘Send me an Info pack’ in the top right hand corner of this screen.
After receiving the INFO PACK in the post or via email, Sarah and Christopher will able to furnish you with some maps of your town or county of the UK and ascertain if there is a potential territory.
Step Two: Attend a free Discovery Day
A Discovery Day at our Central Office in Grantham is an informal visit where we can talk on a one-to-one basis about the pros and cons of franchising, how we operate, what we do to help your business grow – including attracting more landlords, cash flows, potential earnings and what makes a good territory etc. You will also meet the Belvoir Franchise Support team and see how we work to help our franchise network. We actively encourage you to bring along your partner, wife, husband or any family member as we often find it helps to have another person around even if they will not be involved in the franchise. More details of the Discovery Day shown in this short video below.
A typical Discovery Day starts around mid morning and is likely to finish mid afternoon. This is your opportunity to find out everything you want to know about owning a Belvoir franchise without any obligation or costs...After the Discovery Day, we suggest that you speak to any of our franchise owners who can share their honest experiences of running a Belvoir franchise. If after reflection you decide a Belvoir franchise could be for you, you will then go onto the next step – Guided Research.
Step Three: Guided Research
This stage will help you identify whether there is a good opportunity for you to succeed in opening your own lettings agency in your town, city or suburb.
We will work with you to carry out research in your chosen territory, look at the potential figures, produce realistic cash flow forecasts and build a feasible business plan. From the research, you will be able to figure out the number of rental properties available in the area, what the average rents are in your territory, your competitors’ strengths and weaknesses and how your business will be positioned in your local market.
Once the research has been completed, we will assist you with putting together a document including all the evidence you need to prove to a bank and the Belvoir Franchise Support team that there is a potential viable business.
The guided research typically takes about 40 hours of time to complete, approximately 50% of this time is spent mystery shopping the competition and the other 50% completing the written reports. This stage can take 1-3 months and our Recruitment team will guide you through every step of the process.
During this time it is also a good idea to start talking to the banks to get an idea about funding costs, should you need to borrow money. We have contacts within the franchise departments of the banks who can help you and we also advise you to seek independent legal advice from a franchise solicitor, (a list of specialist franchise solicitors can be sourced via the British Franchise Association website.
Our Premises department will also start to become involved with your premise options and carry out desktop searches to ascertain average shop rents and the best place to open your lettings agency.
There are no costs or commitments, other than your time when you are completing the Guided Research stage. This means you can identify whether you will have a feasible lettings business with nothing to lose.
Step Four: Submissions of Reserach
Once the Research document including Cash flows and the Business Plan is completed, they will be submitted to the Banks to obtain the required finance. The franchise funding departments of the banks can usually make a decision on principal within seven to ten working days.
The research document will also to be submitted to Belvoir’s Franchise Support Team. A senior member of the Franchise Support Team will assess the information provided and arrange a research visit with you in your chosen territory. When they meet with you in your chosen territory they will discuss your research, their own research that they have carried out and discuss their findings with you.
Step Five : Formal offer
If the Belvoir Franchise Support Team and banks are happy with the Research document, Cash flow and Business Plan you will receive a formal offer to open a Belvoir Franchise.
Only if you accept at this point, do we request a non-refundable deposit of £3,000 + VA T and a legal commitment is now made. Up to this point, you can pull out with out any cost except for your time. We don’t want to rush you into a decision as this is an important life changing decision which can not be rushed.
Also, once you have paid your deposit, our Premises Team will start to be become heavily involved to help you find suitable premises to run your Belvoir franchise.
Step Six: Three Week Training Course
Belvoir runs four induction courses each year, the Belvoir Recruitment Team will advise on the next course. The course runs for three weeks at our Central Office in Grantham and teaches you what you need to know to run a lettings agency. Two weeks prior to the training course, the remainder of the franchise fee must be paid (£22,500 less £3000 = £19,500 + VA T). You will then commence your intensive three-week training course. Throughout the course, you can work with our premises coordinator to brand your shop and with your business mentor to create your launch plan.