Nicholas Humphreys Specialist Student and Professional Letting has a unique proposition bringing a new lucrative style into the “traditional” property market. Five franchises for the price of one ensures higher earnings.
In the UK.
BFA Full Member: Yes.
Del and Kirin Atwal: Managing Directors Coventry
Why did you go down the franchise route? And why did you choose your franchise?
I decided to go down the franchise route because there is already a successful template in place which has been proven successful in other parts of the country – all we need to do is follow the same principles.
In addition to this we chose Nicholas Humphreys because they are unique in specialising in the student letting market.
What did you do before taking up a franchise?
Before I became a franchise I was running my own retail business.
How did you raise the finance?
In order to invest in a Nicholas Humphreys franchise I used my own savings.
What training and support did you receive initially and ongoing?
In order to become more knowledgeable about the franchise model, I worked at a couple of different branches (Leicester and Burton), which also allowed me to get an understanding of a day to day running of the business.
Once I launched my franchise business in Coventry, I received daily support from the franchise director for 2/3 months, who gave us all the support, back up and contacts to help get started.
What is a typical day for you as a franchisee?
My typical day as a Nicholas Humphreys franchisee includes:
- Chasing up any queries via email/phone
- Chasing up all leads
- Organising and keeping up to date with all paperwork
- Sourcing new properties
- Contacting new landlords
- Growing and expanding the business
What challenges have you faced?
When starting a new business from nothing, it is essential to establish yourself in an area by winning the trust of new landlords and showing them you are able to provide a good professional/liable service.
Therefore, one of the biggest challenges I have faced is trying to get a presence in an area.
Has becoming a franchisee changed your life, if so how?
In becoming a franchisee, I have gained in-depth knowledge in the lettings business with the support of a large established company.
What marketing/promotional tools do you use to grow your franchise?
- Company website
- Social media
In your opinion, what makes a successful franchisee?
To be a successful franchisee you need dedication, persistence, and to be able to follow the successful principals in place.
What advice would you give to someone thinking of buying their first franchise?
If you are considering this franchise also, follow procedures that Nicholas Humphreys advise/set up.
What are your plans for the future?
My aims for the future are to expand and grow/develop the business in Coventry and then take on another area as on when the opportunity arises.
Would you do it again?
GREAT! WHAT'S MY NEXT STEP?
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