Exclusive Interview with Business owner and Mum to 4 kids!
Name: Julie Davis
Franchise: Belvoir
Location: Colchester
Tell us a bit about yourself and what you were doing prior to buying your Belvoir franchise business?
I worked for the former franchisee as his Lettings Manager and when the opportunity came along to buy the franchise thought it would be the ideal way to be in control of my future, as I was about to be a single parent with my fourth child. I'd been in the industry for 4 years and really enjoyed it.
What attracted you to franchising versus started starting up on your own or finding employment?
I knew the business and could see where improvements could be made. It was more a question why a cold start when I had already put a lot of energy and worked many late nights building the portfolio of managed properties for the former franchisee. It was the natural way forward. Belvoir had an excellent reputation and the clients trusted me. A cold start with a baby on the way was too much to take on. The support of Central Office, the Legal Advice line provided the infrastructure that I needed to develop it further
Why did you choose Belvoir? What research did you undertake?
It was local and whilst I had looked at setting up a lettings business the time to market and drive the business forward was a luxury I didn't have. I was approached by a friend who said even whilst I was pregnant I would be 100% committed to setting up a business and I knew then that this was the best way for me. It was more expensive doing it this way and has not been without its difficulties along the way, but has been very rewarding in recent months.
How did you raise the finance for funding your franchise? Did you use any financial support (grants etc.) specific to business start-up?
I was fortunate enough to have my own house and used it as security and the Franchisor was very helpful in pointing me in the right direction to arrange the funding.
Did you take advantage of any support available to women looking to get into business? E.g. member of a women in business network, attend any specific women business events?
Unfortunately, no I didn't as I was quite naive to the support available. I am now making up for this and looking forward to a meeting coming up for women in property. I will be going along with a landlord friend of mine who incidentally became a good friend through this business.
What training and support did you receive initially and ongoing from your franchisor?
"I was fortunate having experience in the industry already and the same core values that Mike and Stephanie Goddard had when the set the business up. What I didn't have was experience in running a business and I underwent the new franchisee training. I was heavily pregnant at the time and I was extremely well looked after. Support is always only a phone call away and we utilise it as often as possible."
We also receive a lot of support with social media. Recently when looking at a new mobile phone contract for the staff Franchise Support contacted me to offer help with their experience when the researched the market. It was good to know I wasn't off the mark. Through Franchise Supports help I'd secured a great deal for our broadband saving quite a tidy sum every month which always helps.
I am utilising the local institute for legionella and asbestos training. It is vitally important to have ongoing training. Webinars are an excellent way when you are limited for time.
What is a typical day for you as a Belvoir franchisee?
I am a hands on director and I have been heavily involved in the training of the team I have today. Be the best is certainly our moto at Colchester. I can be out preparing an inventory, to carrying out a check in's or check-outs and routine visits, to paying landlords or taking calls and booking in appointments. It is a varied job and one that keeps you on your toes with legislative changes.
What challenges have you faced?
Colchester is a very competitive market with agents springing up all of the time and our aim has been to increase our market share by recommendation. Agents often spend huge amounts on marketing whereas we've invested in software to benefit both landlords and tenants. It's is not one for instant results but word of mouth is far better.
There are not the droves of landlords that we used to see and we have to set ourselves apart. Being knowledgeable in all aspects and not the stereotypical agent out to squeeze every possible fee out of them to break down these barriers has been a challenge and the same goes with tenants too.
It's nice to hear a tenant thank you for being so thorough with their inventory and worth the fees we charge. The one thing I will say about being a franchisee is your day is never 9 till 5 balancing personal and work is also a challenge at times.
Staff recruitment would be the toughest challenge I've experienced this year. The team I have now have made it worth it. I like employing staff that are new to the industry so that they don't have any bad habits.
Having passion, being driven and committed to working alongside the team is a great motivator and so rewarding too. I enjoy getting up to go to work. We have a great balance of personalities and it is a key factor when employing staff.
Has becoming a Belvoir franchisee changed your life, if so how?
I wasn't an academic at school, but always had dreams of running my own business. Suddenly being faced with an uncertain future and expecting a baby meant I had to take control of my life. I wanted security for my son as I wasn't going to be able to give him the security of a Dad.
Successfully running a business is such an achievement to be proud of and a great role model to your children. It has taught me to trust my instinct and shown my children that if you work hard you can achieve your dreams.
They have learnt that if you choose a career that you enjoy and it is never a chore. My family and friends have been very supportive and are very proud of my achievements especially over the last 18 months.
In your opinion, what makes a successful franchisee?
You need to be committed, have pride in your work, enjoy helping people and have a natural instinct for finding solutions to obstacles that come up and that you are a people person to the core. You need to be prepared to work long hours and enjoy training staff too. Sharing your knowledge and being prepared to know all aspects of the job. I am a great believer that if your team understand the processes they will make sure that they are followed. Taking the time to explain and to teach staff will eventually allow you to have more down time.
What is the most invaluable piece of advice you could give other women looking to start their own business through franchising?
Make full use of your franchisor. They want you to succeed as much as you do. Don't be too proud to ask for help. It's easy to forget to pick up the phone when you are busy, but you always feel better when you've done it. The time it takes to make the call can save you hours in the long run. Utilise their knowledge. Learn all aspects of the business and to keep learning.
You have more respect from staff when they know you know how to do their job too.You don't have to be the expert in every department but knowledge is valuable. Surround yourself with staff that have your values and they will have the same drive as you for your business to succeed.
What are your plans for the future?
To move into sales is the next natural progression for the business. We often have people walking in asking us to sell their house. I would also like to expand the postcode areas that we cover.
The most important thing is for us to have a shop refit and expand into sales at the same time. It is long overdue and the team are an integral part of the planning. They have to be as we spend more time at work than we do at home. We are all excited about what the future holds.
Would you do it again?
There are things that I would change with hindsight, but most definitely yes I would.
To find out more about Belvoir's franchise opportunity, request their FREE prospectus here.