SA Franchise Brands welcomes Brad Allen, Franchisee for Only Rentals for Ballito to share some aspects on being a Franchisee.

What questions should prospective franchisees ask themselves before buying a franchise?

You should certainly look into the background of the Franchisor and the management team firstly.  The Franchisor should also be open to you speaking to any of the existing franchisees.

Other important questions to ask would be how much cash flow would be required to sustain you for twelve months.  What is the breakeven point after buying the franchise and how long would it take to achieve this.  Understand the industry specific requirements in terms of qualifications and ongoing compliance within the industry.

What made you decide to buy a franchise?

Although I have worked in the property industry for many years, I did not have any experience in the residential rental market.  I didn’t want to pay too many school fees through making mistakes and wanted all the documents, systems and processes to enable me to get started quickly.

How important is it to investigate a franchise and what criteria did you use?

It is vitally important to investigate a franchise thoroughly.  My decision came down to the cost and footprint of the brand.

What made you buy an Only Rentals franchise?

I wanted to build a steady long-term income and saw the opportunity to do this through residential rentals.  I liked the brand and the opportunity to grow my business with the brand.

What early challenges did you face?

The early challenge I faced was finding good staff.  Our current challenges are not only finding stock, but finding good quality stock to rent out.

What training and support does the Franchisor provide you with?

Only Rentals Head Office provides system and process training as well as ongoing support and advice.   They have developed our service offering while ensuring that the group is well informed, educated and compliant with our industry requirements.

How important is the Franchisee’s relationship with the Franchisor?

It is very important to have a good relationship with the Franchisor as well as other Franchisees.  Ultimately the group should have the same focus and direction, which can only happen if the relationship is a strong one.

What advice would you give to prospective franchisees?

A franchisee needs to ensure they implement the right processes and making sure that things are done properly from the beginning.  Residential rentals are itself a very technical business.