Fortune Favours the Brave

The well know translation of the Latin proverb is a reminder that as we look at our ambitions for the year ahead, we may do well to temper a natural fear of change and possible risk with the potential reward it can bring.

When ROOMS® Franchise Support first encouraged me to open a shop front office, I was worried about extra overheads and travel time to work, when compared to working from my ‘virtual’ home office. The business was growing, and while I needed more space for an extra person to work alongside me, I was determined to protect my operating margin.

What I did not realise at the time though, was the great difference it would make to the business in the longer term by attracting landlords, investors and tenants. As a small business it is easy to allow yourself to be led by short term factors. Cashflow and margin are always priorities but more than anything, it was fear which made me resist the idea of increasing overheads. Without the encouragement from our Franchise Support, who had gone over this ground with many other businesses before, I may never have taken the plunge, instead, holding onto the belief that my home office was smart business.

Looking back now, it was the best thing I did, and I can pinpoint many times that new business was generated, almost purely because of our high street presence. In a very real sense, it sends the message to everyone that the business is here to stay, and it also gives a place where everyone in the community knows there is a business specialising in well managed house shares; from a landlord’s perspective, a reliable partner for managing their HMO properties.

In our post Covid world, home offices are accepted as part of the mix, however having an attractive and convenient office for visitors communicates confidence and brings enduring business benefits.

The overhead now looks more like a marketing budget that works well, rather than an operational overhead!