Case Study - Rick Flay
Belvoir Lettings' Sheffield franchisee, Rick Flay, has broken all company records for his first eight months trading. Announcing Rick's award as "New Franchisee of the Year" Mike Goddard, Belvoir co-founder and CEO, said: "In 11 years we have never seen anyone achieve such phenomenal growth from a standing start. Rick demonstrates total commitment and is dedicated to increasing his business as quickly as possible."
When Rick and his family returned to the UK in early 2006 after living in Australia for 13 years, he was looking for a new opportunity. He wanted to be self-employed in a sector that would enable him to use his expertise and knowledge of the property market.
Although initially Rick considered setting up an independent business, drawing on the experience of running his own property company in Australia, he wanted extremely rapid growth and believed that could only be achieved by being part of a national organisation with an established brand.
With his wife Val, a marketing professional, Rick researched franchising, taking a particular interest in the estate agency and property management businesses. They first discovered Belvoir in a franchise magazine and went on to chose this franchise because it specialised in the lettings market. Rick also selected Belvoir because he believed it is a well known specialist property lettings brand, with a mature network and offering the fastest opportunity for growth.
Within five months from initial enquiry, Rick had completed his induction training with Belvoir and had set up the franchise in a serviced office. Val joined Rick to handle the property management side of the business and they soon outgrew their premises. Within months they moved to a shop in the busy city centre, among many other Sheffield property shops and estate agencies, where the footfall is much greater.
Rick commented: "I have always had a keen interest in property. Franchising offered the speed to market which would have been impossible to achieve as a sole trader. After less than a year we have an extensive portfolio of properties in all parts of Sheffield and surrounding areas. Our plan is to double the business over the next year. Val and I are enjoying the variety of our business here in Sheffield, which is a vibrant and dynamic place with much to offer."
