In our latest Franchisor Interview, we spoke with Paul Mitchel, the Managing Director of Business Sales Plus, to discuss what makes their franchise opportunity unique and what prospective franchisees can expect when starting a franchise with them.
How is BSP different from other similar franchises in the UK?
As one of the fastest-growing nationwide franchises, combining over 35 years of seasoned experience with the latest technology and our own purpose-built systems, BSP’s distinctive business model is pioneering a new generation of business brokers.
One key point of differentiation between BSP and other UK business brokers is our uniquely personalised and professional level of service, embodied by our central principle that the person you meet should be the person you get. Instead of being persuaded into listing with a charming representative and then suddenly shipped off to deal with an impersonal organisation hundreds of miles away, we ensure that you engage with the same person through the process. We offer clients reliable advice and a familiar point of contact throughout to make an often-stressful time as seamless as possible.
What is your most significant achievement at BSP so far?
For me, personally, the most significant accomplishment at BSP far has been creating a genuinely talented and cohesive team of likeminded business sales professionals. I am very proud to have assembled an abundance of such skilful professionals who not only share common goals in delivering a high-quality service to clients but also enjoy a worthwhile return on the investment made into the brand as genuine stakeholders.
As BSP continues to grow and we expand our operations at Head Office and across the country, then I remain confident that we can continue to build on this achievement, increasing the size and scope of our capable team to disrupt the business sales industry and deliver on my promise to pioneer a new generation of business brokers.
What is the best feedback you have heard about your brand?
We are always eager to get feedback from our clients to hear what they enjoyed about our service and, arguably more importantly, what they feel could be improved upon so that we can continuously raise the benchmark higher. One piece of feedback we recently received that really stuck out for me was from both the buyer and seller on the transaction of an e-commerce website at the end of last year.
Both parties said that the broker in question had been excellent in facilitating a deal that genuinely offered the optimum outcome for each of them, understanding their contrasting motivations for buying and selling to provide independent and bespoke advice. In fact, we were very proud to receive fantastic recognition for the consistency and clarity of our communication throughout the process, particularly when pandemic-related restrictions threatened to endanger the deal. The BSP representative was credited with remaining pragmatic and professional to overcome any potential barriers and ultimately secure the transaction, even working with both parties on the day of completion to ensure everything was handed over in full.
Why would you recommend BSPÂ to people wanting to open a franchise?
BSP presents prospective franchisees with a genuinely unique opportunity to become an established director of business sales, mergers and acquisitions in their own local region. We are empowering them with the chance to earn substantial sales commissions in a flourishing sector whilst easily running operations from home.
Moreover, though the pandemic has been a difficult time for many, the current landscape has significantly boosted the business brokerage industry, with the economic fallout prompting a flurry of transactions. The demand for our services is rapidly growing. Not only making this the perfect time to open a BSP franchise but giving you the reassurance of entering a pandemic-proof market and the financial security that comes with it.
Above all, BSP represents a unique opportunity for ambitious individuals looking to utilise their strong sales skills and run a successful business. With all the necessary tools provided, franchisees can form a solid foundation on which to build and establish their own thriving business.
What qualities does the ideal franchisee possess? Â
When it comes to recruitment, we tend to look for dedicated, confident and customer-focused personalities with a successful sales background and a firm grasp of the corporate know-how required to excel within a fast-growing company. Ideally, a model franchisee would be a natural communicator possessing decisive leadership abilities and an unwavering ambition to pioneer new markets.
Additionally, with the pandemic driving the industry online, now more than ever, we are always searching for digitally proficient and creative individuals who take a solution-orientated approach, capable of giving BSP the edge needed to drive forwards in this challenging external environment.
How long does the process of starting a BSP franchise take? Â
Whilst no two franchise launches are the same, each with its own individual factors and unique elements to consider; we co-ordinate with our latest franchisees quickly and cohesively to get them up and running as soon as possible.
Furthermore, to ensure a personalised approach, we provide comprehensive initial training on a one-to-one basis, tailoring the programme appropriately to franchisees’ individual requirements and the characteristics of their chosen area and ultimately streamlining the start-up process.
How much support and training is offered to your franchisees?
We understand that choosing to open a franchise can feel like a leap of faith, which is why we guarantee the utmost support for all our franchisees from the very beginning, providing step-by-step guidance through the early stages and all the tools necessary to hit the ground running with BSP.
Franchisees will receive exclusive access to our specially designed customer relationship management system, as well as full training at the Business Sales Plus head office and ion the road with our most experienced franchisees, to ensure a smooth set up. Additionally, in order to allow franchisees to focus on business sales and earning commission, we not only manage all marketing and administration, such as appointment setting and listing businesses, we will also pay £500 per month to cover franchisees’ expenses for the first six months.
In what ways do you help BSPÂ franchisees achieve a healthy work-life balance?
There is no doubting the importance of a healthy work-life balance these days. It is something too many of us are often accused of neglecting, particularly as a newly established franchisee where you can often feel the need to put in extra hours or long days to get things off the ground. However, at BPS, we encourage all our franchisees to adapt their working week in whichever way best suits them; flexible working hours allow franchisees to set their own priorities and maintain a happier lifestyle.
Similarly, we always strive to provide franchisees with the autonomy needed to run their business, empowering them to utilise their local industry knowledge and sales experience to take the initiative and make independent decisions.
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