Posted:13-January-2021

Interview with Sarah Ballard of Newton Fallowell, Nottinghamshire

Franchisee: Sarah Ballard
Territories: Bingham and Mapperley, Nottinghamshire
Franchise: Newton Fallowell Estate Agency

Why did you go down the franchise route? And why did you choose your franchise?

I hadn’t actively gone seeking a franchise – it fell to me as I was already working for Newton Fallowell Bingham, when the franchisee decided to end their contract. I very quickly decided I wanted to apply for the franchise. I was still quite young, but my father gave me a lot of encouragement and has been a sleeping partner in the business from the beginning. That suits well in the Newton Fallowell brand, as it’s family-owned and many of the franchises are run as family businesses.

What did you do before taking up a Newton Fallowell franchise?

After A levels I decided against university and instead started at Newton Fallowell as an apprentice at 18, and within the first year I had bought my own property. The opportunity to take over the franchise came a few years later, when I was just 24. Whilst it was pretty daunting, as it was going to involve running a business, it helped that I was already the manager of the branch, so I knew the day in/day out running of the business. It was just that now I had to sign the cheques!

How did you raise the finance?

The money was put together through a mix of my own finances and my Dad’s. I was in the process of buying another property for rental, and I used the money instead for the franchise. Fortunately I didn’t have to seek any bank loans and for the second franchise, we’ve been fortunate to be given a monthly repayment schedule, as Newton Fallowell recognised that we have a profitable business in place to support the new outlet.

What training and support did you receive initially and ongoing?

It’s been great having the support of David Spackman, the Newton Fallowell franchise director and he is always at the end of the telephone. I was fortunate to have worked in the business so I had a good knowledge to build on, together with A level business and accountancy which helped in dealing with profit and loss accounts.

For managing staff, having the head office services makes all the difference – it takes away all the tax/payroll issues and leaves you to focus on the business. We also had a lot of support to help us to open our second branch - the franchise team helped with the market research, found the premises and negotiated the lease.

What is a typical day for you as a Newton Fallowell franchisee?

I’m very active in the business; I am the property valuer for the Bingham branch and part time valuer for Mapperley, and much of my time is spent doing viewings, registering applicants, taking offers, although I have branch managers which frees me up for other aspects of managing the business.

What challenges have you faced?

I think my biggest challenge was to make sure I had the right staff. We had some ups and downs in the beginning, but as we’re only a small team it’s crucial to get the right people. We also ‘grow our own’ – just as I came through from being an apprentice, so others in the team have worked up from that role to take on senior positions. We also make sure we employ local people who understand the local market as that helps sell properties.

We get involved in the local community too – whether it’s sponsoring the local pork pie competition or providing sports tops for the primary school, we make ourselves part of the local community and family life. Mapperley is very different as it’s about a younger generation and a more buoyant rental market, so we’ve had to take a different approach to building the business and engaging with our customer base.

Has becoming a franchisee changed your life, if so how?

Yes it has. It’s a big commitment and one which changes your world. It’s great to be in control and be able to make decisions about how I want the business to run, whilst having support from the corporate centre, but there are never any days off, as I’m always thinking of the business even if I have a holiday.

What marketing/promotional tools do you use to grow your franchise?

When I took over the business, it had been in loss for a couple of years. I turned that round and was in profit in the first year of trading and in two years I could consider expansion. It’s gone from strength to strength since and I put that down to a number of factors:

• Keeping a tight grip on finances and not spending more than you are bringing in
• Saving for a rainy day and to cover seasonal variations
• Getting involved in the community
• Having a happy team, enjoying what we do as that comes across in all our dealings
• Having the professional expertise and the right mix of skill-sets in your team

What differentiates Newton Fallowell from the competition?

My first franchise is in the market town of Bingham, near Nottingham, and it’s the main focus for estate agency, banking and shopping for the local villages. We are currently ranked in the top three for Bingham, and that’s down to our sales skills and the outstanding service we offer through a team of fantastic staff. We treat everyone the same, whatever the value of the property, and we offer traditional estate agency, taking the time to talk to buyers and sellers, but combined with the latest technology and tools that come from being part of a major brand.

We’re also open seven days per week, because we recognise that weekends are when people are free for house viewings.

In your opinion, what makes a successful franchisee?

Being able to assess your strengths and weaknesses. No one can be good at everything, so it’s important to be open and recognise your weaknesses, then find the right people to fill in the gaps.

What advice would you give to someone thinking of buying their first franchise?

Investigate the franchisor and the market sector carefully. Make sure the brand has a track record of support, by talking to existing franchisees. Make sure you have the right people around you, and don’t fool yourself – if you’re starting the business from scratch, recognise you will not make money the first year. Get your budgets and finance in place and then go through this with your franchisor and make sure they are helping and guiding you. A good franchisor will want you to be successful and to grow.

What are your plans for the future?

I am aiming for breakeven by the end of year one in my second franchise, and into profit as soon as possible after that. This will free up the profits from my first franchise for further investment and I am looking to expand further. There will be economy of scale if I can find the right spot in another area of Nottingham.

Would you do it again?

Yes, yes and yes!