One of the keys to running a successful Transworld Business Advisors franchise, is relationship. If you know how to build a trusted relationship with clients, you know how to keep the deal moving.
For many of us, the lockdown proved to be a challenging time. Not least for those who found themselves furloughed, or out of work altogether. However, as a franchise, Transworld Business Advisors worked hard to ensure their businesses both survived and thrived during the pandemic.
Our network of business advisors continued to engage with their clients and were easily able to adjust how they supported them to sell or buy a business. As a result, over the course of the lockdown, Transworld franchisees continued to close deals, supporting business owners to start a new life chapter; whether they were retiring, starting a new venture, or devoting more time to their health, or family.
For example, Andy Myers, owner of Transworld Business Advisors of Kent, closed two deals shortly after the UK lockdown started. Including one – a small, family-run butcher located on what would normally have been a busy high street. By staying calm in the face of adversity, Andy used the training he’d received from when he first joined Transworld, to see the deal through to completion.
“The key to supporting my clients,” Andy explains, “comes down to the relationship my team and I establish with them. This is the key to all our deals, and is the most important aspect of being a Transworld Business Advisor. You don’t need to meet people face-to-face, to maintain a good relationship with them.”
As a business advisor, Transworld advisors, like Andy, support the sale of a business. “Our aim is to guide someone who wants to sell their business, and help them achieve the best value for it. Sure, there may be times when a seller or a buyer thinks they can do better without the Advisor, but it’s our expertise and experience they benefit from, the most.”
Transworld Business Advisors’ UK Managing Director, Henry Ziff agrees, “Most sellers only sell one business in their lifetime; we have sold thousands over the last 41 years. One of our aims is to protect our clients’ best interests, and so we provide all our franchise partners with the resources and skills to help them achieve this most effectively through our initial training, and continuous development and improvement programmes.”
The first relationship you will establish when you join Transworld, is the one with your franchisor. Knowing you can trust the guidance they give you, as you rely on their experience for the success of your own business, is an important aspect of this relationship.
“As in any industry, we have seen buyers try to cut us out, substantially undercut the asking price, or waste sellers’ time, as they didn’t actually have enough funds to complete the sale,” Henry explains. “By using these experiences from within the whole global network, we learn how best to assess each buyer, their intentions and genuineness. This helps us to find the right buyers for our clients.”
One of the ways in which Transworld achieves this most effectively, is through the relationship they build with the seller. “Transworld has provided a set of tools to help with this; so by keeping in regular contact with my clients, they value me as a trusted advisor,” Andy explains. “Sometimes this is as simple as a text to check how they are, or as detailed as a phone call and email to explain what’s been happening in the week. When I communicate with my clients, they’re not left wondering what’s going on, so are less likely to try to liaise directly with the buyer.”
As a result, Andy enjoyed a productive lockdown, with the butcher, among other businesses, being successfully sold. When focused on building a sincere relationship with your clients, you can also take delight in celebrating with them, when they can embark on the new life. Their success, becomes your success, and their win is genuinely one which you are happy about.
If you pride yourself on being excellent at building and maintaining solid relationships, why not discover how this can be your key to your own successful Transworld franchise. Call 0203 911 0159 or email [email protected] to find out how.