Northwood franchise owner achieves a £2 million turnover
Northwood franchise owner Scott Wilding brought his business through the property downturn last year and earned a £2 million turnover
Although the housing market was severely affected by the recession last year, Northwood franchise owner Scott Wilding still gained a £2 million turnover. "One of the reasons I have been so successful is because I have followed the Northwood model," explains Scott.
"Additionally, during the recession the rental side has made a huge impact, especially because of Northwood's Platinum Rental Scheme, which guarantees landlords their rent."
Despite being an experienced business owner, Scott felt that his chances of success would increase as a franchise owner. "I used to run a company that sold computers to schools and the public," he recalls.
"The industry became more difficult and I felt that property would be a good business to go into. I decided to own a franchise rather than set up a business on my own because to be successful it helps to be part of a corporate identity and a franchise provides the image of a big corporation, while still allowing you to run your own business.
"I looked at several different franchises, including ones in the food industry and several property franchises but I decided on Northwood because I liked the people and it had a forward thinking attitude. Additionally, the Franchise Office team came across as professional and knew what they were talking about."
When Scott joined Northwood the company had not been franchising for long and he was one of its first franchise owners. "I launched my Romford-based territory in 2000 and in 2006 I launched my second Southend-based territory," he says.
"Before launching my Northwood business I had two weeks of training, the first week was classroom-based and the second was hands-on training. Although the training I received was good, Northwood has moved with the times and improved it so it is much better now.
"The training provided by Northwood is not only for franchise owners but also staff and I am able to send my employees to the Northwood training centre for extra training, which is paid for by Northwood. Furthermore, Northwood is constantly looking for ways to improve its business offering and has recently developed a new website and implemented new computer software."
Even though Scott has been running his Northwood franchise for a decade, he still enjoys the fact that every day is different and he has found that his lifestyle has changed considerably.
"I am a lot less stressed now than before," he reveals. "The last five years, in particular, have not been very stressful, which has mainly been due to having a great team of staff and my recruitment of Brian King who I have recently promoted to Sales and Lettings Director. When I initially set-up my business I was working all the time, however I no longer work at the weekends and I am able to go on a couple of holidays a year."
With the housing market slowly starting to pick up this year Scott is positive about the future of his business. "Over the next couple of years I want to open satellite offices in both my territories," he comments. "Although the housing market will take some time to fully recover I have a positive outlook for the future and maybe in the long term I will look to purchasing my third territory."
Reported by Derin Ibrahim
Initial Investment Requirement
Franchise Fee: £39,950 + VAT includes comprehensive 6-week training programme, all office systems, forms, stationery, bespoke software, IT equipment, furniture and signage.