Should You Risk it For the Biscuit?

Kristen Cowell

Lead Designer, Identity Marketing

We’re all aware of the saying ‘you’ve gotta risk it for the biscuit.’ Taking a gamble is often associated with uncertainty, doubtfulness and fear. But with time, effort and commitment, it can bring prosperity and success. 

As we look at the real estate landscape, we’re seeing more agents take gambles of their own. There’s been an influx of agents leaving franchises over the last few years. Starting your own business seems to become more accessible each year. Of course, being a part of a franchise offers a regular paycheck and the opportunity to work for an already established and successful company, but it has its cons too. 

The freedom of running your own business is enticing. You get to call all the shots, choose who you get to work with or knock off early on a Friday. However, it still comes with a larger responsibility that can feel intimidating. Do you want to embrace the uncertainty and get comfortable with being uncomfortable – or is it easier to place that feeling in the too hard basket?

Building relationships and trust as a franchise has had its challenges in recent years and there are other variables to consider. For instance, if the South office has a damaged reputation, word of mouth is going to damage the West office’s reputation too. Unfortunately, even though you are only connected by name, their actions will affect how you are perceived in the market. 

Even as your office grows, so does the capacity and workload, which is why there are often multiple support staff. Although this can feel like a blessing, it can also turn away potential clients. They may prefer the local boutique agency over a franchise as this means they have one main point of contact. They feel like they have more of a one-on-one relationship. 

Starting your own business gives you the freedom to make all of the decisions, allowing you to create your own vision, values and mission without being restricted. Being in a smaller business, you’re offered more control. You can build trust and relationships with your clients by giving them a more personalised and intimate experience. However, without the support of a franchise, the list of responsibilities increases, so this is not always an easy task. It can mean having a smaller volume of clients, but offering a higher quality of service. 

Jane Blair, managing director/principal of Curtis and Blair, was previously working within an international real estate franchise before risking it for the biscuit. She felt there was a lack of freedom within a franchise,  which led to her decision to start her own independent real estate agency. She said, “I feared leaving something so well recognised but instead it has been positively overwhelming. The general feedback has been ‘why didn’t you do this earlier?!’”

Although starting your own business sounds like a dream, it’s important to remember it’s not easy. You need to set up the fundamentals right from the start. There are still pros and cons to both options. It ultimately comes down to what you need. Do you need support and established brand awareness? Working for a franchise will have your back from the start. Do you want total control? Building a business from the ground up means you’ll be in the front seat from finances to marketing to expansion.

If your new brand is going to survive, you will need to put in the time and effort to make that happen. Jane’s advice for those wanting to leave a franchise is, “it takes a long time and I literally spent the last 12 months of my franchise agreement getting the ball rolling. It’s not a six-week job – to do it and do it well, it’s a good nine to 12 months of planning.”

For those of you who have big ideas and a solid understanding of the time and effort it takes to run a business, launching a startup presents an opportunity for growth and freedom. However you can expect to put in some hard work, especially at the start. If this sounds like too much weight to carry then sticking it out in a franchise may be a wiser choice. Deciding which direction to take is a choice only you can make. If you dream big, take a risk and dig deep for the biscuit, launching your own brand may be the best decision you ever make.

To learn more about Jane’s journey from franchise to independent, read our interview here.