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If you're looking for an object lesson in the importance of choosing the right location when setting up in business, then you need look no further than the success of Martin & Co's Winchester office, which opened for business in October 2007.
New franchisees Andrew Blick and his wife Tracy (he is an airline pilot, her background is in catering and restaurant management) did their research well prior to securing their high street premises.
They carefully looked at all the possibilities, eventually narrowing them down to just two streets. After analysing both the footfall and the traffic, they finally plumped for a former newsagent's shop in Jewry Street, in the historic heart of the city. Here, the support provided by Martin & Co came to the fore in the person of Premises Manager , who not only fully endorsed their choice of premises, but played a key role in the subsequent lease negotiations.
The couple didn't have to wait long before their choice of location was thoroughly vindicated. "While the shop was still being fitted out, we had prospective tenants looking in the window," says Andrew. "And even before we officially opened for business, we had already acquired our first landlord client. Within 2 weeks we had successfully secured a 6 month let on his property!"
Since then, the business has gone from strength to strength - and the importance of location is reinforced every day. "By far the majority of our business comes through the door," says Andrew. "Our investment in the right premises - and in choosing Martin & Co - has certainly given us the best possible start."
When Tony Deveney and Carl Doogan, who had previously forged a strong working relationship as senior executives at the Carphone Warehouse, decided to set up their own lettings business in Sheffield North, they researched the market with their usual thoroughness. "We did a full competitive analysis of all the available alternatives, and Martin & Co won hands down," says Tony. "Not only is theirs the leading brand in the sector, but - in return for a substantially lower initial investment and lower ongoing franchise fees - their package was easily the most comprehensive."
Another key factor in the choice of Martin and Co was the fact that neither Tony nor Carl were interested in taking on a straightforward turnkey franchise, he adds. "With our business background, we naturally wanted to be fully involved in every aspect of the planning and setting up of the venture, rather than simply buying a lettings agency in a box. With Martin & Co, we were able to choose the level of support we wanted - while at the same time, there was the reassurance of knowing that further guidance was always there, if we needed it," added Carl.
As for their success to date...having launched in April last year, Tony and Carl are having to radically revise their projections - upwards.
No surprise then that the partners are already planning to open their second office, in Barnsley. After which, the sky really is the limit.
Opening a property franchise and teaming up in business was a dream come true for brothers Nick and Charlie Diggle who are franchisees at Martin & Co in Cambridge.
"We wanted to start a family business and that's how we view Martin & Co. It's our local company but with the reassuring back up of a national name, brand and support network," said Nick, 28.
They were both raised and educated in Cambridge and have strong local roots.
Nick, a Philosophy graduate was an Account Manager in London for a major public relations consultancy. Charlie, 31, has a first class Honours Degree in Business and Management Studies and was a Project Manager for Credit Suisse in London. He said:
"Having been both landlords and tenants ourselves, we are confident that we understand the kind of service people will be looking for from us."
Husband and wife Neil and Lisa Williams both had a long term interest in property and turned to Martin & Co after deciding they wanted to launch a business in the lettings sector.
"We were already aware of the company's national name, brand and reputation so it wasn't a difficult choice when it came to picking a franchise," said Neil. Newport was also an obvious choice for locating the business, opened early in 2007.
Neil was born there and recently completed a Master's Degree in Business Administration at Cardiff Business School. He is also qualified in mortgage and insurance advice with the Chartered Insurance Institute. Previously he was a senior manager with a leading government agency.
Neil and Lisa have renovated a large number of houses over the past decade, owning several buy to let properties. So they had a very clear idea of the kind of service landlords would be looking for; fast, professional, efficient, customer oriented and providing value for money and attention to detail. Their approach has given them a flying start with Martin & Co, now well established in the vibrant Newport lettings market.
It might seem like a far cry from rock promoter and manager to the owner of a lettings franchise in Islington. But for Adam Clasby, who once worked with big names including Robert Palmer, UB40, Alice Cooper and Paul Young, it wasn't really such a difficult move. "While the Rolling Stones may still be going strong in their 60s, rock and roll is still basically a young person's game, so I knew it was time for a change - and with a lot of friends working in the property sector, my own interest was sparked."
But why did he choose a Martin & Co franchise? "I'm not one for doing a whole lot of research," he admits. "I came across them, did a bit of digging, liked what I read, and as soon as I went down and met the team in the Bournemouth head office, I decided that this was the route for me. I simply went with my instincts."
As for the choice of territory, this was a no-brainer. Islington-born Adam knows the area like the back of his hand, and he could see a lot of potential growth in a local lettings market underpinned by high property values.
He opened his fine, double-fronted office in September 2006 - and in Year One of his 5-year Martin & Co business plan, he comfortably exceeded his targets for turnover. So far this year things are going even better. "January has been fantastic," says Adam. "If things continue at this rate, we look set to double our business in 2008."
Father and daughter team Bob and Claire Urwin opened their Martin & Co franchise in Oxford in October 2006. "Over the previous 10 years, I had built up my own property portfolio," says Bob, who used to run his own newspaper publishing business before merging it with a local broadcasting company and floating it on the Alternative Investment Market in 2003. "Claire had always been interested in the sector and used to help me manage the properties - so a lettings business seemed like the natural thing to do."
Using his local media contacts, Bob was able to ensure that the new venture was launched in a blaze of publicity, and it has enjoyed a high profile ever since, with success to match. "As part of the initial setting-up of the franchise, Martin & Co provided us with a very detailed 5 year business plan, and in the first year we exceeded our turnover target by a third.
Our target for 2007/8 is to double turnover yet again, and we are well on course to meet that."
The venture is a real family affair. While Bob focuses on business generation, including market appraisals, Claire (who has a BA in Business and Management from the University of Central England) is one of the three negotiators, while Bob's wife takes care of the administration.
If things go according to plan, they will be recruiting a full-time property management specialist in 6 months' time. But then again, if they continue exceeding their forecasts, then that could happen quite a bit sooner!
Haywards Heath and Burgess Hill
Sandra Reeves is not the type to revel in the quiet life. Keen to show that age doesn't have to be a barrier to launching a new business , Sandra launched a Martin & Co franchise at the age of 64 in 2006. I worked in the printing industry before retiring and then found I was restless. I have still got a lot to offer, bundles of energy and I am always buzzing with ideas.
"I threw myself into the business from day one and I think I have made an excellent start. I've been interested in the property sector for some years and the franchise really taken off. I was delighted to have the opportunity to purchase a Martin & Co franchise. The company has built an excellent national reputation and I am very happy to be part of that."
Gary Everett had worked in the banking industry for nearly 20 years and redundancy in 2003 gave him a great opportunity to review his future. He looked at various franchising options, realising that starting a business on your own could be a very isolating experience.
After several months of research and talking with other franchisees he chose Martin & Co. "My training programme was extensive and on the first days of his launch in 2003, the Operations Director from Martin & Co spent time with me in the business to meet my first customers and offer valuable techniques and advice aimed at maximising future profitability."
"There is superb ongoing support from the company, including coaching calls, regional business meetings and training refresher courses. Martin & Co has a strong brand name and I am well on the way to my goal of being the most professional letting agent in Colchester."
Gary acts as a mentor for new franchisees.
