Why we invested in Northwood
Martin Bradbury, Northwood Warminster franchisee, explains
If you had told us four years ago that we could own a business generating over £200k in its second year of trading, we would have told you that you were crazy, but the fact is, that's exactly what we have achieved!
My wife Fiona and I decided to leave our 'secure' jobs to start our own business without having any idea what to do. I had worked for years in the MOD but Fiona was working for a local property management company and, as we both wanted to work in a white-collar environment, the property market seemed as good a place as any. So the next decision was whether to start a business on our own or invest in a franchise.
Due diligence told us to investigate all avenues so I set about the task of looking at all the property franchises but was dismayed by the quality of the marketing literature I received from the majority of the franchises. However, the quality of Northwood's literature stood head and shoulders above all the other franchise opportunities.
Once we had spent the day with Northwood's founder Andy Goodson at their head office in Southampton we also had the opportunity to visit other local Northwood offices, which gave us the chance to see the business in reality. We were also invited to talk to any of the existing franchisees, which indicated to us the transparency of the business: no-one was trying to hide anything. It wasn't long before the huge benefits of investing in a Northwood franchise became very apparent.
We live in Warminster, which isn't exactly the largest conurbation, so having three franchises in one (lettings, estate agency and financial services) has given us the ability to grow our business much faster than if we had just stuck to lettings, which is what we would have done if we had started the business on our own. Another major benefit of investing in Northwood that I haven't yet mentioned is the brilliant Platinum Scheme. This service is not only extremely popular with landlords and gives us a unique selling point but more importantly, our income is double when compared to traditional property management.
Thanks to the great team, which Northwood helped us recruit, the comprehensive six week training programme and Northwood's strong branding, not only did we have a gross profit of over £200k in our second year of trading but our growth has meant we were able to relocate to larger premises.
With an established national network of 51 offices, Northwood's comprehensive screening programme ensures that only the highest calibre people with the attributes and determination to be successful are considered to become franchisees. By adopting this philosophy, the long-term growth, stability and profitably of the company as a whole is ensured.
As a turnkey franchise, around 55 per cent of the initial investment (£39,950 plus VAT) is used to equip the office with desks, chairs, signs, computers, printers, software, etc., enabling the franchisee to focus on the comprehensive six week training programme and benefit from the professional Northwood image from day one. Additional money will be required for working capital and finance is available through the major clearing banks subject to status.
By becoming a franchisee you will be able to offer Northwood's unique Platinum Service to customers, enabling you to have an edge over the competition and become the leading agent in your territory.