A1 family fortune for mother and daughter franchising team

Zöe Gristfirst spared no effort in establishing her business with her mother Linda Payne in Hatfield in 2006, and now they are now reaping the rewards of their research. Here, she shares her journey.

We decided to go into business together in 2004. Linda had been membership manager for Tottenham Hotspur Football Club for a number of years, while my background was in TV production management. At that time, the choice of the property sector was by no means a foregone conclusion and we researched a range of sectors. We were looking for a service industry where we could bring our interpersonal and managerial skills to bear to best advantage.

Our own unsatisfactory experiences in the property sector eventually convinced us that estate agency was an area where we could really make a difference.

Preparation
We spent two years systematically researching every aspect of the industry, and developing a clear vision of the type of operation we wanted to build.

We analysed how other agents worked, we tracked the market and we looked in detail at the various franchise options available. As newcomers to the industry, there was never any doubt in our minds that we favoured the franchise route, and the choice of franchisor was obviously going to be crucial to our future success.

We looked at branding, management calibre and drive, and the quality of marketing and support available. The degree of flexibility was also key. Obviously, we didn't want to simply be sold a package and then left to sink or swim alone. Similarly, we didn't want rigid external control over every aspect of our business, right down to the choice of office furniture and stationery supplies. We were determined to put our own stamp on things.

Once we had created a shortlist of franchises, we went to the trouble of asking existing franchisees to complete a questionnaire about their experience of their network.

Our choice of franchisor effectively helped dictate our choice of location. Country Properties has a particularly strong presence further up the A1 corridor in Hertfordshire and Bedfordshire, and Hatfield dovetailed very neatly into the existing network.

Purchase
After deciding on a location, we then set about finding a suitable agency to purchase. From the outset, we knew we wanted to buy an existing operation, rather than attempting to set one up from scratch, and importantly, we also wanted one with an established lettings business as well as sales.

We benefited from our lack of agency experience, in that we weren't seduced by the boom in sales at that time. We always took the view that lettings would provide the regular, bread and butter business.
We also knew the kind of agency we were looking for: a genuine family firm that was well-established, with a genuine, long-standing commitment to old-fashioned notions of personal service. Our aim was to build on that commitment and complement it by introducing the latest technologies in the areas where they could be most useful.

Eventually we found the perfect opportunity - a traditional family agency that had been established for over 30 years, with an existing lettings portfolio on which we could build, and an excellent reputation for customer service.

We bought the business in December 2006. The previous owner stayed with us for two months to help with the handover while we underwent intensive training at our franchisor's head office.

Investment
We invested heavily in new systems - the previous owner had operated entirely on a pen and paper basis - including the multi-listing software that gives buyers, sellers, landlords and tenants access to the entire network from just one office. We also refurbished the premises, while taking care to preserve the premises.

But we were careful to stress the sense of continuity, and to reassure clients that this was not an abrupt change of direction, but simply a change of name and pace.

All our research and preparation has paid off. We recruited our first new member of staff within a couple of months of opening, and we now have a complement of four, plus Linda and I. Despite the slump in the property market, we are holding our own in sales, while in lettings we have more than doubled our number of properties under management.

Neither of us has any regrets about our business launch. It has been a complete change of lifestyle for us both, but a change for the better. As for the future, we've already got our eyes on St Albans.

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