lettings
estate agencymortgages
estate agencymortgages
Case study - Cheltenham
Franchisee: Nikki Ponsford & Patricia Figueras
Location: Cheltenham
Opened: 2002
Mother and daughter partnership Nikki and Patricia, have grown their Northwood business to now consist of six employees "It's a thriving business," Nikki reveals. "We have about 170 landlords on our books and the Northwood Platinum Guaranteed Rental Income Scheme really appeals to landlords. We now have 70 per cent of our landlords using this scheme."
Not only has Northwood allowed Nikki and Patricia to establish a successful business, but the franchise has also fitted in well with Nikki’s new lifestyle. "After the birth of my first child I was off for eight weeks, when I returned to work I was able to work only two days a week, which would not have been possible in my previous job," Nikki explains.
Before becoming a franchise owner Nikki worked in sales, she came across the Northwood franchise opportunity whilst working at a radio station selling advertising. "I met Andy Goodson, the founder of Northwood, when he came in to discuss an advertising campaign," she remembers. "I told my mother, who was about to be made redundant from her current job as a technical engineer, about the opportunity and we decided there and then that we would set up a Northwood lettings franchise together.
I was only 21 at the time my mother initially launched the business on her own, with the plan that I would join later. Three years after the launch, in 2005, I joined the business.
"We admit that running the business in the early stages was very challenging, however with the 100 per cent support we received from the Northwood franchise office and with the experience and knowledge we had gained we were able to turn the business around. The business is now fantastic and we haven't looked back since.
"It is not just the financial aspect that is great, but also the flexibility it provides. It enables me to give my daughter the care she requires. Knowing that we have an excellent team of staff gives me the confidence that the business will run smoothly if my mother or myself is not able to be there."
Now that their business is in a strong position, Nikki and Patricia are keen to expand it further. "We want to grow the business, but at a rate that we can manage," Nikki says. "We plan to launch the sales side of the business soon and also increase our lettings portfolio to include over 200 rental properties."
"We admit that running the business in the early stages was very challenging, however with the 100 per cent support we received from the Northwood franchise office and with the experience and knowledge we had gained we were able to turn the business around. The business is now fantastic and we haven't looked back since.
"It is not just the financial aspect that is great, but also the flexibility it provides. It enables me to give my daughter the care she requires. Knowing that we have an excellent team of staff gives me the confidence that the business will run smoothly if my mother or myself is not able to be there."
Now that their business is in a strong position, Nikki and Patricia are keen to expand it further. "We want to grow the business, but at a rate that we can manage," Nikki says. "We plan to launch the sales side of the business soon and also increase our lettings portfolio to include over 200 rental properties."
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