Myself and my partner are landlords already so investing in a Martin & Co franchise was another investment for us.
Paul Midgley has a background in hospitality but, once he had reached the top of the career ladder, he began to look for something that he could run himself. With a strong interest in property and being a landlord himself, Paul decided to add to his property portfolio by adding a Martin & Co franchise to his list of investments. Paul took over the Wimbledon Martin & Co in February 2015 and is already building a strong business.
“Myself and my partner are landlords already so investing in a Martin & Co franchise was another investment for us. I wanted to diversify our investment portfolio but I will be actively working within this business. I had hit the ceiling in my previous career and couldn’t progress any further, so I was looking to own my own business and I wanted something a little more structured than traditional property development. My strategy is to grow the business and open another office in five years’ time.”
MartinCo Group operates one of the UK’s largest property franchise businesses with nearly 300 offices and five franchise brands Martin & Co,
C J Hole, Ellis & Co, Parkers and Whitegates. The Group’s franchise
owners manage approximately 43,000 properties on behalf of private
clients. The Group added an estate agency service to its lettings
service in 2013 and offers this service at 240 of its offices. MartinCo
is a multi-award winning business and the directors and senior
management have over 100 years of combined lettings and estate agency
I know that if I was on my own I wouldn’t have this kind of support.
“I had already known about franchising for a while because I had worked in a franchised restaurant chain whilst I was studying. I know that franchising is big in the US and it gives an independent person a bit more security with a network and training programme for support. I know that if I was on my own I wouldn’t have this kind of support. I knew I wanted to move away from the corporate world and franchising is the best of both worlds.”
“I did quite a bit of research with different brands because I wanted to investigate all my options. Martin & Co have a more open mind about your previous background so you don’t necessarily have to have an estate agency background. I feel that as I’m coming from an entirely different background, I’m coming to the business with fresh ideas and I haven’t learnt any bad habits.”
“I met with Penny Sanders, Executive Head of Franchising, and Ian Wilson, Chief Executive Officer, and I liked what I heard and saw. The security and training offered at Martin & Co was brilliant compared to the other franchises I looked at. With Martin & Co you can have high-street and online presence so you can take advantage of both markets.”
Franchise owners like Paul take market share in their dedicated franchise territories through the marketing, media and public relations support provided by Martin & Co, who have also developed a sound understanding of best practice in the property industry. On income generated from lettings income and estate agency fees, average Martin & Co franchise owners who are high-street based turnover £274k in year three and you can expect to build your business to in excess of £415k in just five years.
I’d like to build something for myself and feel the benefits. I’m also building a pension for my retirement
"I’ve got a lot of drive and I’m excited about growing my business. It’s my investment so I can control it and it’s down to me to build it in the way that I want to. I’m excited about taking a completely different career path and meeting new people. I also have a strong interest in property so this business opportunity is great for me. I’m particularly interested in the Georgian, Edwardian and Victorian styles of architecture.”
“The Martin & Co training programme was great. I learned negotiation skills and lettings law. We also did a bit of role-play, and discussed techniques for appraisals and business generation. I used a marketing template alongside my launch and I think that the Martin & Co logo and branding also helps you to get your business off the ground.”
My advice to anyone looking at buying a franchise would be to make sure you do your homework and be aware that it’s different to a normal job. It’s up to you to be the driver
"If you’re an employee you get the benefits and you can sit back to a certain extent. With your own business you have to go and get the customers and be at the forefront. It might be outside your comfort zone but you have to do it. Being with Martin & Co makes it much easier to be independent.”
“I have a ten year plan for my business and I want to expand it within my own territory. I also want to gain knowledge about the property industry because knowledge is power and the more I learn, the more I will be able to grow my business. I want to provide a good service and become well-known within my territory.”