WGN has been on the Polish market for 32 years. It now has 100 branches of the real estate service which have realized over 230,000 transactions. In 2021 the company made a record 15,000 transactions, selling real estate worth over 3 billion PLN (around 700 million Euro).
The long record and strong performance make the company a leader on the real estate market. Its reputation among clients is of being a safe and professional service. The company has proved that is can secure good contracts on the market and as a result it enjoys a good margin rate on its sales.
Partners keep the profit
One of the most attractive features of this franchise for the potential franchisee is that they keep the profit they have earned on their transactions. The franchise does not have a share in the profits which have been earned by the franchisee.
The second important feature for the franchisee is a tried and tested model of operation. The company has a business model and procedures which is know-how it transfers as part of the business support it makes available to its franchisees. There is training available, a mentor and a help desk, advice on the design of the partner’s office, assistance with staff recruitment and full access to the company’s marketing and web services. This means that the company’s partners do not have to reinvent the wheel. They can dedicate their energy and capital to developing their business.
There are also plenty of opportunities in such a large network for exchange of experience and knowledge. Franchisees can benefit from learning from the market leaders. In 2021 WGN’s 5 leading agents made a total of 576 transactions and the best of the company’s branches secured seven-figure incomes.
The partners can earn more through handling the WGN’s credits scheme which gives access to a network of mortgage brokers. There is also a chance to work with WGN Development which actually handles development projects.
Flexibility at a competitive price
The franchisees also have the freedom to provide additional services such as insurance, property management, interior design and renovation. This flexibility also applies to managing the business. The franchisee makes decisions on the size of their team, the way they are remunerated, the size of commission charges and does not limit the territorial reach of the operation. If the partner ends cooperation WGN allows them to keep their client database and real estate on their books.
The franchise is not expensive to obtain. The starting fee is just 1000 Euro which enables the partner to have a return on that investment in the third or fourth month of operation. The franchise charges a regular monthly fee which is not dependent on the turnover achieved.
However, the potential franchisee must factor in other expenditures such as office rental and costs of renovation and furniture, costs of keeping accounts and local marketing. WGN estimates that the potential franchisee should expect to spend around 5,000 Euro, including the franchise starting fee.
The franchisee must also have their own or rented office space of a minimum of 25 square meters in a busy area close and preferably on the ground floor, so that the advertising display is clearly visible.
WGN is flexible about the kind of people who can become its franchisees. The partner does not have to be engaged in the day to day management of the business. The franchise also welcomes existing realtors who have reached a ceiling in their development and who need the boost of being part of a larger network. WGN believes that the most important factors in succeeding are not prior business knowledge and experience but rather creativity and motivation.
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