I’m wondering if real estate franchising is too worn out to accept a new concept. Specifically I’m asking about franchising my business of flipping houses. I buy, renovate, and sell properties (known as ‘flipping real estate’). How can I start my own franchise with this type of business?
Real Estate Franchising and Flipping Houses
The first thing you should consider is a feasibility study. This will help determine if franchising is a logical and practical means for you to expand your business. However, it’s very safe to say the business of flipping houses is commonly known as a profitable business sector. In fact, it always has been, but somehow in the 21st Century it took off like no other time. Take the first step of feasibility. Some quirk could be exposed that is peculiar to your approach and real estate franchising might prove unwise.
Franchising and Concept
In that your interests are in buying, fixing and reselling real estate, determine if your specific method is appealing to others. While others are successful in this field, is your approach standard or are there twists that might pertain only to you?
Traditional real estate franchising has been in the area of standard brokerage, but don’t forget that the well known brands are very old having begun in the 60’s and 70’s. That is ancient in the franchise world even for those brands that are strong as their success has spawned so many competitors. By comparison, flipping houses would be a new entry into real estate franchising. As with all potential franchises, your real estate franchising concept must be proven and in demand not only in the initial “model” location, but provable in a wide variety locations and territories. The concept must be repeatable under the direction of various owners and conditions.
Feasibility is key.