Lakefront Living Realty is a step—actually, make that 10 steps—ahead of the competition.
The real estate company focused exclusively on lakefront properties has found its niche as a franchise opportunity, and as such, the brand wants to make sure its franchisees have all the tools they need to differentiate themselves in their markets and highlight the brand’s specific knowledge and subject-matter expertise.
“What works well in our niche market is that buyers and sellers are passionate about lakefront property,” Lakefront Living founder Scott Freerksen said. “They both have an emotional connection to lakefront property thanks to past experiences and they want to work with somebody who has that same passion. That makes our job easier and more lucrative.”
To that end, Lakefront Living lives and breathes by an established set of marketing techniques known as the 10 Keys to Lakefront Market Domination: Specialization; a dedicated website; Seller Connect©; Buyer Connect©; branded email newsletter use; ‘The Lake Life’ blog; the brand’s Keys Seminar©; Community Connect©; social strategies’ and GbR Program©.
The goals of implementing these techniques include establishing the Lakefront Living franchisee as the dominant player in their lake market and helping brokers steadily decrease their daily time investment while also increasing their revenue, Freerksen said.
By having a dedicated website, for example, Lakefront Living helps each franchisee establish a comprehensive online hub to house all of the lake-specific information a buyer could ever need, solidifying the franchisee in question—and the brand as a whole—as the foremost authority on the lakes in question as well as the properties available there.
Seller Connect© and Buyer Connect© are brand-specific targeted marketing tools that help Lakefront Living franchisees connect with buyers and sellers of lakefront property in their area, while the Lakefront e-newsletter and the Lake Life Blog help the brand stay top-of-mind with consumers and keep them connected on a consistent basis through regular updates promoting the franchisee's subject-matter expertise.
The brand’s Keys Seminar© is a yearly springtime event where buyers are invited to meet with the brand, giving franchisees a chance to communicate their expertise and establish credibility. This event has generated up to 150 buyers in the past, according to Freerksen.
Through Community Connect©, Lakefront Living helps franchisees gain local and national visibility by guiding franchisee communication with lakefront communities in their area. Through this tool, franchisees form meaningful connections with lakefront homeowner/lake management associations and establish a presence at relevant events to grow their networks of buyers and sellers.
Social strategies help arm franchisees with best practices to shape the narrative, humanize the mission and further the Lakefront Living brand, while the Growth by Referral (GbR) Program© helps franchisees grow their business organically through previous successes.
Lakefront Living franchisee Annie Faulstich signed on as the brand’s first franchisee in 2017 and opened her franchise in Lake of the Ozarks, Missouri. Today, she owns the franchise rights to the entire state as she prepares to expand with the brand.
“Having the 10 keys upfront helps us stay focused,” she said. “But, most importantly, being specialized and having the niche marketing and branding helps us stand apart from other agents in our area.”
Of the 10 keys, Faulstich’s favorites include the dedicated website, an element of differentiation she called “huge.”
“So much of our business now is done online and our buyers and sellers are finding us there,” she said. “By having us share that same website and platform company-wide, it makes it easier for buyers and sellers to find us.”
The newsletter, blog and seminar keys are also standout components to market differentiation, Faulstich noted.
“These three all tie-in together because we are giving buyers and sellers so much more information than what they typically find on other, traditional real estate websites,” Faulstich said. “Providing that education component for buyers and sellers is the factor that sets us apart from the competition.”
Ultimately, all of the steps working together spells Lakefront Living franchise success.
“Each step is like a spoke on a wheel,” Freerksen said. “If you’re missing one or more, you become less efficient and have less of a competitive advantage. When all 10 steps are implemented, you can’t help but achieve the goals of the system.”
The startup costs for a Lakefront Living franchise range from $32,265 to $39,705. The franchise fee is $25,000. To learn more about franchising with Lakefront Living, visit https://www.lakefrontlivingfranchise.com/.