Stockdale & Leggo’s new look franchise revealed
Stockdale & Leggo has relaunched with a new business structure. The new-look franchised agency is focused on bringing in the right people to the network, rather than expanding its current 39-office footprint for the sake of growth.
CEO Charlotte Pascoe joined the chain in 2018, taking on the top role in June 2020. Since then she has worked to inject purpose and energy into the business, introducing a digital franchise model to attract franchisees seeking a better life-work balance.
Pascoe told Inside Franchise Business Executive “We have moved away from the traditional franchise offering where a franchisee has a franchisee relationship manager attempting to be a jack of all trades.
“Instead, we have reimagined our model to meet the individual needs of our franchisees by working with select partners who have specialist expertise within their field, including areas such as business advisory, finance, training, growth and recruitment.
“Essentially, we meet the business where it is at to help them grow and be the business they want to lead.”
The real estate chain has been overhauled in a two-year process that has seen a $1 million turnaround for the business.
Stockdale & Leggo’s new look franchise
“In real estate we tend to replicate what competitors are doing. Instead we looked at each element of the business with a blank piece of paper and asked, ‘what should this part of the business be?’ Then we build it for how we want it to function and ask, ‘does what we have fit in?’ Rather than drag things over, we’ve been building the right structure,” Pascoe said.
“It’s much harder to reinvent the model, to do the research, pull in experts, look outside the industry, look at independents, to ask ‘why would a franchisee want to join our brand?’,” she said.
“We want to ensure we are empowering people to generate wealth. We look at what they want. Our northern star is to be most desirable franchise real estate network.”
Pascoe is confident the new model will attract new people to the industry. There is a joint venture option or the opportunity to own an agency outright, and a focus on upskilling leadership and business skills.
The approach is agent-led, allowing those high performing agents who want to continue earning high commission to focus on sales rather than pushing them to open an office.
While most real estate agencies are office-based, there’s also the opportunity for an ambitious franchisee to start with a digital franchise. They can promote themselves online as a local specialist without needing all the trappings of a formal real estate agency.
A positive franchise equals success
The real estate chain is focused on product and support in Victoria where Pascoe sees plenty of opportunity to build a strong footprint of sustainable businesses.
Pascoe has backed herself, recently purchasing a stake in Stockdale & Leggo, along with Ben Thomas.
“It’s such an amazing opportunity to take on a legacy brand, to own it and build it into what it should be. Nothing would make me happier than to sit down in 20 years and look at what we’ve achieved.
“Success for Ben and me is very much about making sure there is a good balance in our network, a good footprint, that offices are profitable, and we are considered to be a destination network for the industry.
“It’s about long term gain. It’s not about the money, its about giving people opportunities. If people see it is positive for franchisees and franchisors, that’s what success is for us.”