Franchise extraordinaire!

After leaving university, Rick’s career took him into many different areas, including sales, marketing, event management and property. He worked in companies of different sizes, from large corporates to ‘one-man bands’, and in different countries. Following a long spell living in Australia, in 2006 he decided to return to the UK and look for a new business opportunity.

Setting up a franchise

“I wanted to get into the market quickly so I knew I needed to use the skills I had to leverage an existing brand, rather than try and create my own,” explains Rick. “I looked at franchising options and quickly narrowed it down to property and then to Belvoir Lettings.”

Rick used a combination of personal savings and a bank loan to purchase the franchise, then dedicated himself to raising the profile of the business amongst Sheffield’s builders and property developers. His efforts were rewarded when the business won the British Franchise Association’s New Franchise of the Year award in 2007 and a Silver Franchise of the Year award in 2008.

Learning lessons

Belvoir Lettings isn’t Rick’s first venture as an entrepreneur and he says he’s learnt important lessons from each of his ventures – even those that haven’t worked. His advice is not to be afraid of failure and not to let yourself be put off by people saying that your business idea won’t work.

“I was never interested in a conventional 9-5 job but it took me years to build up the confidence to go it alone. I’m sure that if I’d had access to mentors who supported and encouraged an enterprising approach then I would have given it a go much sooner.”

Planning for the future

Rick’s current focus is on growing his business to a turnover of £1 million and developing systems that will allow him to take a step back from day-to-day involvement. His long-term aim is to build the franchise into a sellable asset that can support him and his family through his retirement.

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