How to run a property franchise

Interview with Property Franchisees

Aarti and Dipak Davé
Platinum Property Partners franchisees
Key tips:
Use the support network, follow the model and structure given by the franchisor and wait for the perfect opportunity to arise How easy has it been to become a property franchisee?

Aarti Davé: Platinum Property Partners have a model and structure that we follow, and because of that it's been far easier for us than doing it on our own. It's also been much quicker to get a property up and running. I think being on your own can allow you to make a lot of expensive mistakes in property, so joining the franchise and having that level of support has really helped us.

Dipak Davé: It's been challenging, it's been a massive learning curve, but it's been thoroughly fun. There have been some very low points, there have been some very high points, as with any challenge. But it has been an amazing experience.

BFS: What sort of challenges have you faced?

AD: The lows points: it was such a huge learning curve, but it helped that Platinum Property Partners are so supportive - they're always there to help.

DD: There are a lot of low points, there are a lot of times you just sit there and question if you've done the right thing, you question the investment you have put into it: both time and money. So you do go through that, but you get over it. It's like jumping out of a plane: once you've done it, you've done it. Now you have to make sure you land.

Platinum Property Partners are so supportive - they're always there to help

Aarti Davé

FS: What are the advantages of a property franchise?

AD: Working from home. What I find about Platinum Property Partners is that we have a support network - there's somebody there you can work with, we have workshops all the time, we meet regularly.

There's so much contact with the head office and other franchisees that that helps: you're working on your own, but you've also got a much larger team out there, so it's a balance.

DD: It's a very good model for being your own boss, but still having that network of people like you do in any other organisation - collegues, essentially, but you are still your own boss.

FS: What are your future plans for the business?

DD: When we started out, we said we always wanted to get to a target of five properties. We're not very fast at things as we like to think things through and do them properly, so we said one per year, learn as we go along, get the model right.

But, that said, if the perfect opportunity comes up, I can see that timeline shrinking. But, ultimately, we want to get to a point where we have a significant second income coming in.

About The Author

Matt Skinner Writer
Matt Skinner writes for all titles in the Dynamis stable including, and as well as other industry publications.