Commercial Real Estate Agents – What You Can Do with a Franchise Business List for Your City
In commercial real estate brokerage you can do a lot with a franchise business list. Within that list you can find leasing and occupancy needs. You can create that list from a bit of simple internet and business research. Understand what franchise tenants need by way of property and then find it. Are you up to the challenge?
What types of franchise businesses are there that you can serve from a leasing perspective? Think about this list for starters:
- Fast-food and takeaway
- Tyre sales
- Motor vehicle repairs
- Motor vehicle sales (new)
- Pool chemicals and supplies
- Real estate brokers
- Restaurant and cafe
- Sports and fitness
- Home services
- Cleaning services
- Food and beverage
- Leisure and entertainment
- Coffee shops (fixed and mobile)
- Business services
- Computer services
- Stationery suppliers
Check out the local franchise organisation for your town, city, or state. Check out their website and look for the list of members (the list is commonly available as part of servicing franchise growth and sales).
Know the franchise segments, locations, and competitors
Within each franchise group there will be different segments with multiple members; some will be in competition with each other. From that point on you just make contact and see what the typical property choices are for them. As they expand their franchise network they will need property in some way or form; that’s where you can help them with leasing and or purchasing.
Here is a checklist to help you work in this lucrative property market segment:
- Business type – Understand their core business by type and location. Decide if you can help them with property activities in your town or city.
- Competitors – Check out the competition in each franchise segment. If you can’t help one group, perhaps you can help one of their competitors?
- Where are they located now? – A franchise group will typically know their market better than you do. They will know how close they should be to competitors and if they can cross over into another location easily. You could say that they have an acute awareness of customer profiles and demographics in their business; that information is valuable. Your job is to understand those variables.
- Get information about property types and location – The properties that they will locate into are likely to be carefully selected and considered for branding, passing traffic, rental and occupancy costs, and lease terms. A typical lease for a franchise group will normally be integrated into the duration of the franchise agreement. One document ties to the other.
- Match the right properties – Get to know their industry group comprehensively so you can match properties to leasing needs. The improvements within an asset and the fitout layout are likely to be important to a property decision. The same can be said for branding on the building and marketing materials.
So these 5 things will help franchise tenants find the property that they require for trading and business growth. As the local property expert you can get plenty of new business by helping and serving franchise tenants.
