Belvoir founder to sell second tranche of shares for £2.1 million

September 29, 2019

Belvoir founder Mike Goddard also sold £1m worth of shares in December but still holds stock worth at least £2.5 million at today’s share price.

Mike Goddard, the founder and former chairman of franchising giant Belvoir has applied to sell two million of the 4.39 million shares he still holds in the company.

 
His sale of the shares will be at ‘no less’ than £1.05p per share but at the moment the company’s stock is being traded at £1.12p.

Therefore the 70-year-old will realise cash from the sale of between approximately £2.1 million and £2.24 million, reducing his shareholding in the company from 12.6% to 5.7% of its issued share capital.

Related: Property and Estate Agent Franchises UK – What Buying an Estate Agency Franchise Means for UK Franchisees

Back in May Goddard, who is also a director of The Property Ombudsman and a former chairman of the British Franchising Association, stepped down as chairman of Belvoir after nearly 25 years, and was replaced by Michael Stoop (left).

In December last year Goddard gave himself a well-earned Christmas present after he sold shares worth £989,700.

Related: Property & Estate Agency Franchises – Search Franchise Reviews Directory

Both today’s news and the December share sale are part of a complicated deal struck following the purchase of Northwood which required the directors involved to wait two years before realising any shares.

Belvoir was set up by Goddard and his wife in 1995 after he left the RAF as a Wing Commander and it initially grew through franchising using its own brand, but later also through acquisition. As well as its own 174 offices it also operates 90 Northwood and 36 Newton Fallowell branches.

Related: Belvoir Franchise

By Nigel Lewis

Source: The Negotiator

Family-run property agency has built up its portfolio with continued success

September 24, 2019

Martin & Co Tunbridge Wells has boosted its managed portfolio by 43 per cent thanks to its latest independent agency acquisition.

Managing Director David Rogers has owned the Tunbridge Wells branch since 2009, with McAuley Miller his third but also largest acquisition to date.

 
David said: “We’re delighted to have completed on this acquisition and certainly hope there will be many more to come as we look to grow the business further.

“As a branch, we’re very much looking forward to helping our new landlords get the best out of their properties, while also ensuring the tenants are well looked after and benefit from our strong customer service ethos.”

Related: Property and Estate Agent Franchises UK – What Buying an Estate Agency Franchise Means for UK Franchisees

A family-run branch, Martin & Co Tunbridge Wells’ staff include David’s wife Jackie (Property Manager), eldest daughter Vicky (Lettings Manager) and her husband Scott (Sales and Valuation Manager).

Ian Wilson, Chief Executive of The Property Franchise Group, added: “I met David and his daughter at a franchise show in 2009.

“He was an experienced agent looking to use our brand to develop a new venture.

Related: Property & Estate Agency Franchises – Search Franchise Reviews Directory

“I’m sure that he and his family are delighted with the progress he has made since.

“His clients speak very highly of the service they receive, and the seller’s clients will be welcomed warmly onboard.”

Martin & Co cover your local areas including Tunbridge Wells, Southborough, Rusthall, High Brooms, Langton Green, Pembury, Wadhurst, Hawkenbury, Eridge.

Written by David Rogers

Source: In Your Area

Belvoir profits jump as it outperforms across key markets in first half

September 3, 2019

Belvoir Group PLC (LON:BLV) reported a jump in profits for the first half of the year as its three business lines continued to outperform their respective markets.

For the six months to 30 June, the property franchise group generated a 23% rise in adjusted pre-tax profits to around £3mln, while revenues were up 48% at £9mln.

 
Financial services revenues tripled to £3.9mln, boosted by the acquisition of mortgage broker MAB (Gloucester) in November last year.

The core property franchise division lifted management service fees 5% to £4.2mln.

Related: Property and Estate Agent Franchises UK – What Buying an Estate Agency Franchise Means for UK Franchisees

The firm’s interim dividend was maintained at 3.4p per share.

On target for full year
Looking ahead, chief executive Dorian Gonsalves said the group had made a “promising start” to its second half and was trading in line with management expectations for the full year.

“Trading across lettings, sales and financial services continue to outperform their respective markets and deliver strong results”, he added.

Gonsalves told Proactive that the growth in the group’s results showed that its franchisees were “not only surviving but thriving” despite fears of a downturn in the property market.

Related: Property & Estate Agency Franchises – Search Franchise Reviews Directory

The CEO said that if the property sales market began to shrink, rental activity among its lettings agents was likely to increase due to a reduced number of buyers and higher numbers of “accidental landlords”, property owners that hold off and selling and decide to rent while waiting for prices to improve.

“We’re holding all the cards in terms of the rental stock”, Gonsalves said, with the company having around 64,500 properties under management.

Related: Belvoir Franchise

Franchise model “maximises potential”
In a note, analysts at Belvoir’s house broker finnCap reiterated their 190p target price on the firm, saying its franchise model “maximises entrepreneurial potential, flexibility and cash flow while minimising risk”.

The broker added that with the UK residential property market undergoing structural change alongside ongoing economic uncertainty, Belvoir had “significant potential” to gain market share, evidenced by the results.

Investors appeared to agree, with the shares jumping 6% to 117p in early trading on Tuesday.

Source: Proactive Investors

Widnes-based Fintech company celebrates second anniversary

September 1, 2019

WIDNES-based property investment company Sourced had cause to pop the champagne corks as it celebrated two years in business this week.

The company has now grown its UK-wide franchise empire to over 50 locations and, at the same time, completed property projects across the UK as well as launching its own Peer to Peer platform, Sourced Capital.

 
The finance initiative generated more than one million in funding within the first three months of going live.

Other successes for the group include a brand-new development of 585 units at the Regent Plaza in Manchester, with Phase One expected to be completed by the end of next year.

Related: Property and Estate Agent Franchises UK – What Buying an Estate Agency Franchise Means for UK Franchisees

The flagship development in Manchester adds to the growing GDV value of £264 million, Sourced have achieved in such a short space of time.

“We’ve had an incredibly exciting year, considering it’s only our second” said managing director Stephen Moss.

“As a business to achieve this level of growth in such a short space of time is fantastic and a credit to the team we have in place.

“Our new Peer to Peer platform operates under our Sourced Capital brand and is growing at a controlled and manageable rate with the key focus being delivering high service and great returns to our investors, we have some really amazing projects in the pipeline right now.”

Related: Property & Estate Agency Franchises – Search Franchise Reviews Directory

Yet another forward move for Sourced is a major re-branding exercise, which the group have almost completed, providing the four departments of the business with their own unique branding and website.

Source: Runcorn and Widnes World

Franchise brand opens new office – 20 years after launching its first

August 8, 2019

The owners of four branches of a franchise agency in Berkshire have launched a new office in the county, just over 20 years after opening their first.

Simon Gregory, Bruce Taylor and Dale Kempson – who already own Parkers offices in Burghfield Common, Theale, Tilehurst and Tadley in Hampshire – have now opened an additional branch in Spencers Wood.

 
Taylor, who launched Parkers Tilehurst alongside Dale in January 1999, says: “The Parkers name really is synonymous with the Reading area and pretty much anyone still in the estate and lettings agency business locally who started in the 1980s and 1990s would have begun their career at Parkers.”

Related: Property and Estate Agent Franchises UK – What Buying an Estate Agency Franchise Means for UK Franchisees

He started his career in 1987 at Parkers in Wokingham, before several other roles in Berkshire led to him working under Kempson in Langley, near Slough. The pair joined forces in 1999 to open Parkers Tilehurst, before purchasing the Burghfield Common branch two years later.

Gregory then joined Bruce and Dale in 2010 and in 2013 the trio opened Parkers Theale.

Related: Property & Estate Agency Franchises – Search Franchise Reviews Directory

Three years later they bought the Tadley office, with the Spencers Wood office opening its doors for the first time this summer.

Parkers is one of six brands under the Property Franchise Group umbrella.

Source: Estate Agent Today

Platinum Property Partners awarded top 16th position in the Elite Franchise Top 100!

August 8, 2019

Over the years, Elite Franchise Magazine have had the great privilege of working with some of Britain’s best franchises.

The company state that they were so inspired by these superlative businesses that we believed it was time to recognise the many matchless brands operating in the sector.

 
Now, the Elite Franchise top 100 is recognised as a new league table that celebrates the greatest franchises the UK has to offer.

Related: Property and Estate Agent Franchises UK – What Buying an Estate Agency Franchise Means for UK Franchisees

Allowing franchisors to duke it out on everything from growth to the support they offer franchisees, the Elite Franchise 100 recognises the sector’s brightest businesses and ranks them according to a broad range of criteria from their heritage in the industry to their contribution to the community and the way they embrace innovation.

Related: Property & Estate Agency Franchises – Search Franchise Reviews Directory

Ranking applicants from 100 to one, this guide defines the best opportunities in the UK, whether they’re a flourishing franchise at the top of their game or a budding business making its first inroads into the industry.

Platinum Property Partners have been awarded the Top 16th position, ahead of franchises such as CEX, Anytime Fitness and Vodafone.

Related: Platinum Property Partners Franchise

If you’d like to download your own digital copy of this magazine, then visit the link below:

https://bit.ly/2B2nmNQ

Platinum Property Partners are now a member of the AFA as well as BFA!

August 8, 2019

PPP have received yet another seal of approval, as they have now become a full member of The Approved Franchise Association as well as The British Franchise Association! The AFA are dedicated to promoting the highest standards in the franchise industry and ensuring continued success for all those involved.

 
All potential AFA members undergo an extensive vetting process by an official body, which includes a detailed review of both prospectus and marketing material. As well as in-depth conversations with both the franchisor and franchisees. The aim of this process is to confirm that the franchise offering is completely ethical, sustainable and transferable.

Related: Property & Estate Agency Franchises – Search Franchise Reviews Directory

Those working for PPP said “we are proud to have gained the seal of approval to be part of this network for franchisors and look forward to offering our knowledge to the wider franchising community”.

Related: Platinum Property Partners Franchise

Belvoir to meet expectations with profits ahead of H1 2018

August 7, 2019

UK property franchise Belvoir Group PLC (AIM: BLV) booked positive trading performance in the first half, despite challenging market conditions and legislation change.

 
The Company noted that Management Service Fees rose 5% at their 300 high street lettings and estate agency offices, despite a backdrop of falling sales activity and a ban on tenant fees introduced in June 2019. The Board noted that profits and sales were both ahead of results for the first half of 2018, and that the Group benefitted from the acquisition of financial services network, MAB, in November 2018.

Related: Property and Estate Agent Franchises UK – What Buying an Estate Agency Franchise Means for UK Franchisees

Net banked commission was also up 23% on-year. In turn, the Board were confident of meeting market expectations for the full year.

Belvoir comments

Dorian Gonsalves, CEO, commented,

“The Board was very encouraged by trading during the first half of 2019 with our franchise model proving to be resilient to changes in the sector and our diversification into financial services providing an additional revenue stream for both our franchisees and the Group.  We have seen positive results both from our property franchise and our financial services networks, and are confident that the Group is well positioned to take advantage of the opportunities arising from a more challenging market.”

Related: Property & Estate Agency Franchises – Search Franchise Reviews Directory

Investor notes

Despite what could have perhaps have been seen as a positive update, the Company’s shares were down 3.96% or 4.50p to 109.00p a share. The Group’s p/e ratio is 9.15 and their dividend yield stands at 6.61%.

Related: Belvoir Franchise

By Jamie Gordon

Source: UK Investor Magazine

Ewemove helps parent company TPFG achieve record revenues

August 3, 2019

Turnover at Ewemove increased by 11% during the first six months of 2019, helping its parent company increase its franchisee fee income to £4.4 million.

Revenues at hybrid estate agency Ewemove have jumped by 11% during the first half of the year, its parent company The Property Franchise Group (TPFG) has revealed within its interim half-year results.

 
The online agency, which was bought by TPFG in 2016 from its founders, has been the star of the lettings-dominated franchising giant for some time now.

Over the past six months the hybrid agency, which is famed for its green sheep logo, has helped TPFG increase overall revenues by 3% so far this year.

Related: Property and Estate Agent Franchises UK – What Buying an Estate Agency Franchise Means for UK Franchisees

The group’s income from the fees paid to it by its franchisees hit a record £4.4 million during the first six months of the year, topped up to £5.5 million by revenues from other activities including franchise sales and ancillary operations linked to its other brands.

These are Martin & Co, Whitegates, Ellis & Co, CJ Hole and Parkers.

“We are pleased to continue to deliver revenue growth across both our high street brands and also our online brand, EweMove, in what has been a tough market,” says Chief Executive Ian Wilson (left).

“Although we have yet to see the full impact of the tenant fee ban which came into force on 1st June 2019, we are confident of the actions being undertaken by our franchise network to mitigate the impact on revenues.”

Related: Property & Estate Agency – Search Franchise Reviews Directory

WILSON TO RETIRE

Wilson has announced that he is to retire from the company in 2020 after 16 years. He joined Martin & Co from Connells in 2003 and rose to be its Managing Director before getting the top job at TPFG.

Related: EweMove Franchise

“I have seen the company through its IPO and its successful years since,” he says.

“Throughout this time the business has shown the strength of its franchise model, the quality of its board and management team, and the resolve and determination to succeed of its franchisees.”

By Nigel Lewis

Source: The Negotiator

Global franchise giant opens 49th high street branch

July 9, 2019

Century 21, the global estate agency franchise, has opened its latest high street branch in Cheltenham.

The franchise, Century 21’s 49th in the UK, is being operated by a husband and wife team, Carlos and Sonia Setubal.

 
The Portuguese couple are new to the industry, with Carlos having worked as a civil engineer and Sonia as a teacher.

Related: Property and Estate Agent Franchises UK – What Buying an Estate Agency Franchise Means for UK Franchisees

“We were searching for a partnership with a company with a solid background which would be able to provide us with the necessary support needed to start a new business,” says Carlos Setubal.

“We have seen Century 21’s global presence and we really wanted to be a part of this.”

Related: Property & Estate Agency Franchises – Search Franchise Reviews Directory

Chris Summers, head of franchising for SDL Group, which owns the licence for Century 21 in the UK, adds: “Sharing our passion to provide exceptional customer service, Carlos and Sonia are a great addition to the Century 21 UK.”

Related: Century 21 Franchise

The new branch is celebrating its opening by offering vendors 50% reduced fees if a property is not sold within 90 days and 12 months of free property management for landlords.

By Conor Shilling

Source: Estate Agent Today