Property Franchise Group brand snaps up another independent agency

June 7, 2019

A branch of national agency Parkers has bolstered its managed portfolio by acquiring independent company Samuel James.

Parkers’ Reading branch has also taken on six staff from Samuel James.

Parkers is one six brands under the Property Franchise Group umbrella, and Reading branch owner Craig Pearson – who also owns Parkers offices in nearby Woodley and Earley – says: “It was important to the owner that he found a buyer to continue looking after his clients as well as his current staff.

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

“We were extremely pleased and proud that we were seen as the agency to do all that based on our ethos and care for our existing clients.”

Pearson joined the brand as a sales negotiator in Bracknell in 1993 and has been branch manager at Reading since 1996; he purchased it in 1999.

Xperience and Whitegates managing director Kate Toland says: “Craig has always been extremely forward-thinking and hugely ambitious and I’m delighted to see this latest acquisition cross the finish line. He has built a superb team across three branches and the clients acquired from Samuel James will now benefit from that team’s superb levels of service and vast experience of the local area.”

Related: Property & Estate Agency – Search Franchise Reviews Directory

Source: Letting Agent Today

Industry veteran becomes chair of franchise giant as founder retires

May 20, 2019

The founder of franchise giant Belvoir, Mike Goddard, has now stepped down as chair of the company, two years after quitting as its chief executive officer.

Goddard founded Belvoir with his wife Stephanie in 1995 and at yesterday’s Annual General Meeting of the firm – the last with Goddard as chair – the current chief executive Dorian Gonsalves spoke of the pleasure he had of working with the founder since 2005.

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

“Through his entrepreneurial spirit and his passion for franchising, Belvoir has become the largest property franchise group in the UK.  I would like to express my personal and the board’s sincere gratitude for all that Mike has done and achieved as founder, chief executive and chairman over the past 24 years” Gonsalves said.

Taking over as chairman from today is industry veteran Michael Stoop, who has 40 years experience in the industry, much of it involved with franchise operations.

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

During that time he has been managing director of Winkworth, was the head of Xperience (the agency franchising arm of Legal & General), was group managing director at Martin & Co – now named The Property Franchise Group – and is still involved on the board of at least one PropTech company.

Stoop is, in addition, vice-chairman of The Property Ombudsman.

“We welcome as chairman, Michael Stoop, who has over 40 years’ experience of the property franchise sector and has already made a significant contribution since joining the [Belvoir] board in March 2018” says a statement from Dorian Gonsalves.

Related: Belvoir Franchise

The AGM heard that Belvoir’s first quarter trading for 2019 was exceeding expectations in all three of its activity areas – sales, lettings and financial services.

By Graham Norwood

Source: Estate Agent Today

Belvoir Lettings outperforming on all fronts

May 18, 2019

Belvoir Lettings PLC (LON:BLV), the UK’s largest property franchise, said it is outperforming the three key markets in which it operates.

After a robust first quarter of 2019, the board is confident of meeting market expectations for the full year.

Year-on-year growth of 6.3% in Management Service Fees (MSF) from lettings was well ahead of the reported 1.2% growth in the rental index of 1.2%, while growth of 10.3% from sales MSF compared with a drop of 1.5% in property transactions. Net banking from financial services (on a like-for-like basis) was up 20%.

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

In the year to date Belvoir’s Assisted Acquisitions programme has supported six franchisees to acquire a local competitor, adding £1.2mln of network revenue, nearly 800 managed properties and over £100,000 a year of recurring MSF.

There are still £2.0ml of deals currently with lawyers and a strong pipeline of further opportunities to underpin the group’s growth target for 2019, Belvoir said.

“The board is very encouraged by trading in Q1 with our franchise model proving that, even in a challenging year for the property market, it has the resilience to overcome and indeed benefit from changes in the sector,” said Dorian Gonsalves, the chief executive officer.

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

Mike Goddard, Belvoir’s founder and non-executive chairman, is retiring from the board at today’s annual general meeting. He will be succeeded by non-executive director, Michael Stoop.

“Through his entrepreneurial spirit and his passion for franchising, Belvoir has become the largest property franchise group in the UK. I would like to express my personal and the board’s sincere gratitude for all that Mike has done and achieved as founder, CEO and chairman over the past 24 years,” Gonsalves said.

Related: Belvoir Franchise

“We welcome as chairman, Michael Stoop, who has over 40 years’ experience of the property franchise sector and has already made a significant contribution since joining the board in March 2018,” he added.

By John Harrington

Source: Proactive Investors

EweMove in profit as Property Franchise Group reports solid figures

April 9, 2019

EweMove Franchise UK. Hybrid estate agency has reported a modest pre-tax profit of some £400,000 as part of the 2018 results of its parent company, The Property Franchise Group.

EweMove’s sales completions grew by 22 per cent in 2018 and its lettings completions grew by 26 per cent, says a TPFG statement.

Other operational highlights include the revenue for TPFG’s six brands hitting £92m – well up in 2017’s £85m.

Some 60 individual franchisees each had annual revenue in excess of £500,000 and of these, 11 had revenue in excess of £1m.

The group saw 28 acquisitions at the franchisee level adding 3,115 managed lettings properties and overall there were 26 new franchisees recruited – down from 37 in 2017 – but last year also saw 28 ‘resales’ of the same business with a change of franchisee.

TPFG has 377 trading offices – down from 403 in 2017.

Group revenue rose 11 per cent to £11.2m last year, up from £10.1m in 2017 and while pre-tax profits remained static at £4.3m, the 2017 figure included a net exceptional gain of £0.7m.

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

Management services fees increased 14 per cent to £9.4m.

Ian Wilson, TPFG chief executive officer, told shareholders this morning: “Our traditional high street brands benefited from further deployment of digital marketing ‘know-how’ instilled by our hybrid brand. Encouragingly, EweMove grew its market share across those locations where it operates and delivered a pre-tax profit of £0.4m in a year when most competing hybrid estate agents produced losses.

“We maintain tight financial discipline, reflected in a further strengthening in our balance sheet and an improved net cash position.  Furthermore, this underpins the Board’s ability to confidently propose a further, meaningful increase in the dividend for the sixth successive year since our IPO in December 2013.

“We entered 2019 with a significant improvement in our positive net cash position and the highest level of recurring revenues in the Group’s history. In addition, our profitable and established hybrid business provides further opportunities for growth. The Board is confident about the prospects for 2019 and envisage that the loss of tenant fee revenue and continued regulatory intervention in our sector will create opportunities for further consolidation and growth.”

Source: Estate Agent Today

Northwich lettings agency scoops second award of the year

April 9, 2019

A NORTHWICH lettings business has scooped its second award of the year, having been put forward by a panel of expert judges. Belvoir Lettings, in Castle Street, had already won the Gold Award for Lettings within Northwich at the British Property Awards (BPA), picking up the gong in January.

The company has now been awarded a bronze award for the north west as part of the BPA regional awards.

Franchise owner James Whalley was thrilled when he heard the news, and admits it came as a bit of a shock.

“To be honest we really weren’t expecting this so it was a very welcome surprise,” he said.

“We were judged on our customer service in terms of friendliness, willingness to help, local knowledge and speed of responses and even in our wildest dreams we didn’t think we’d receive two prestigious awards in such a short space of time.

“We got a call from the British Property Awards out of the blue to say that we’d been put forward to the regional awards and had achieved the Bronze Award – it’s amazing.”

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

James has also praised the national Belvoir team for their support over recent months which has contributed to the two recent awards. The company runs 170 branches.

He said: “Thanks must go to the team at Belvoir for their continued efforts in helping us secure this award – we couldn’t have done it without them.”

James has also backed plans for a second Northwich BID term.

“We will most certainly be voting for a second term for the Northwich BID,” he said.

“We would encourage all businesses to say yes too as it’s a really exciting time for Northwich and the BID’s work will help the town continue to prosper.

“There’s never been a more important time to support our fellow businesses in the Northwich area which sustain the local economy.”

By Ned Bristow

Source: Northwich Guardian

Property Franchise Group sees ‘material’ results improvement

February 9, 2019

The Property Franchise Group said it expected to report a ‘material’ improvement in its annual results, in line with market expectations.

The company said its hybrid brand, EweMove, had traded profitably throughout the year and would show a significant improvement over 2017.

‘Consequently, the company expects to report trading for 2018 in line with market expectations and to show a material improvement on 2017 with enhanced margins,’ it said.

Revenue for the year through December rose 10% to £11.2m, while management service fees increased by 14% to £9.5m.

‘The early signs are that 2019 will be another challenging year for the property market with ongoing Brexit uncertainty having the potential to dampen sales transaction volumes,’ Property Franchise Group said.

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

‘The tenant fee ban, due for introduction on 1st June 2019 in England was previously anticipated in April 2019 and whilst it will reduce the group’s lettings revenues by around £0.5m in 2019, this impact will be less than anticipated.’

‘Overall, despite the challenges ahead, the group’s strong balance sheet and well-balanced exposure to certain opportunities which exist in a changing property marketplace gives the board confidence for the year ahead.’

Source: Shares Magazine

Franchise giant Belvoir says fees ban effect will be ‘less than expected’

February 1, 2019

Belvoir has this morning told shareholders that the effect of the Fees Ban coming into effect in June will be less than expected.

In a statement to the City the firm says: “The Board has assessed that the impact from the ban on tenant fees will be less than the previously estimated eight per cent of gross profit.

“The effect is now believed to be less than six per cent initially, reducing further to three over nine months.”

In a strategy that will be looked at keenly by competitors, Belvoir says the minimising of the fees ban impact is down to the company’s “diversification into financial services, and our franchisees adopting additional revenue streams.”

The comments come after the Belvoir Group told shareholders of what it calls “another year of continued and encouraging growth” with revenue up 21 per cent to £13.7m (2017: £11.3m): it says this strong showing is “outperforming both the sales and lettings elements of the housing market and the financial services market.”

Management fees from lettings were up 7.1 per cent, much of it down to Belvoir’s assisted acquisitions programme. Sales fees were up 8.5 per cent “compared with the HMRC reported two per cent decrease in the number of residential property transactions for 2018.”

Group income from financial services was also on the rise thanks to the first full year of ownership of Brook Financial Services and the lates-in-the-year acquisition of MAB (Gloucester) Limited.

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

Dorian Gonsalves, chief executive of Belvoir, says: “In 2018, Belvoir delivered on its promise to support franchisee growth through its Assisted Acquisitions programme, adding network revenue of £6.9m, ahead of our £6.6m target for the year and over double that achieved in 2017.  Meanwhile, we are also pleased to see our organic lettings growth and our increase in sales transactions exceeding market performance.

“The Group’s diversification into financial services has also delivered growth, and our late-2018 investment in MAB Glos will provide the platform from which to offer specialist high street mortgage advice through our network of lettings and estate agents. The Board believes that Belvoir is well-prepared to both meet the challenges and take advantage of the opportunities anticipated in 2019.”

Source: Letting Agent Today

Belvoir scoops gold award for consistent customer service

January 23, 2019

BELVOIR Lettings has scooped a coveted award as it celebrates its 10th anniversary.

The Castle Street letting agency picked up the Gold Award for Lettings as judged by the British Property Awards (BPA).

Following several rounds of mystery shopping, Belvoir was found to have the highest-rated customer service in the area.

Franchise owner James Whalley said: “I am extremely proud to have received this award and thanks must go to the dedication of our team to deliver such an outstanding service.

“We are 10 years old as a family business this year and it is such an honour to be recognised in this way.

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

“This is the pinnacle of our achievements and ranks number one. Belvoir consistently strives to provide a first class service to its landlords and tenants alike and this has certainly paid off.”

The letting agent has won awards previously for its charity work raising money for Macmillan Cancer Support, and was also awarded ‘Charity Champion’ in 2013 and 2014.

Related: Belvoir Lettings shares rise as it hails success of its assisted acquisitions programme

Following on from the Gold Award win, James says he and the team won’t be resting on their laurels in 2019 and have already set out plans for the future.

He said: “Our goal for this year is to continue expanding our business and help landlords secure properties to satisfy the high demand from tenants.

“We will also continue to build on our customer service to ensure our customers receive the best service possible. ”

Source: Northwich Guardian

Property and Estate Agent Franchises UK – Should You Buy a UK Estate Agency Franchise?

January 21, 2019

Property and Estate Agent Franchises UK – the TOP 10 MUST KNOWS about finding and running a successful UK Property and Estate Agent Franchise.

The property and estate market may go up and down – but it’s never going to go away. If you’ve got the necessary skills, a property and estate franchise can be a great source of additional income.

 
2008 was, in more ways than one, the global equivalent of the great American depression.

Bad loans, poor money management from top banks and questionable decisions – it had every classic symptom of systemic abuse. But what stood out from this upheaval was one thing – the property sector in the UK holds our strings. If it’s doing well, the economy does well, and if it’s in a slump, we’re all in for some trouble.

Now, keeping all the bad memories of the past decade aside, let’s look at the positives. Things are changing fast. The money will eventually come into all property sectors (if it hasn’t already).

What this also means is this: there is always going to be a new wave of demand for knowledgeable, experienced and skilled estate agents, property managers and brokers. In this environment, being a local representative of a well-known estate agency is not just a possibility, it’s a full-blown chance to run your own estate agency franchise business.

In this post, we’ll see what property and estate agency franchises are, how they work and how you can leverage your experience and free time to establish a stream of reliable income.

Property, Estate Agency and Letting Franchises: Riding the Wave

As of writing this post, the future looks quite shaky and turbulent. Most of us haven’t seen a deal more roundabout and love-hate-driven than Brexit; the homeowners are in a state of confusion; businesses don’t know whether to swoop in on the opportunity or play the waiting game; the landlords aren’t sure why they can’t sell their properties.

Here are some bad angles to this chaos:

  1. The prices are just too high. Commercial as well as residential properties are continually attached to higher asking prices than the buyers are willing to shell out. Not surprisingly – quite a few properties now sit idle on property and estate agencies’ books.
  2. The stamp duty reforms have not been received well by the housing market. The stamp duty revenues are already going down, with fewer properties being transacted. The whole idea may have been to encourage first time buyers to invest, but it has definitely put speculators, high-net worth individuals and businesses from investing.
  3. The doom and gloom surrounding Brexit (and, more appropriately, the way it has been handled so far) has already impacted the commercial property market. The Investment Property Forum forecasts a flat 50% slashing down for the commercial property returns (from 6.2% in 2018 to 3% in 2019). The good news is, experts are still optimistic about the market to get back on track in a couple of years, regardless of the way Brexit swings.
  4. Retail property sector is already going through a turmoil, thanks to various reasons (including the prominent e-commerce trends). Retail properties are expected to sharply decline in prices, following an expected closure of over 23,000 high-street businesses in 2019.

What Does All This Mean for Estate and Property Franchises in the UK?

Quite honestly, it’s hard to say.

Assuming the market course-corrects, this could only be a brief testing period. On the other hand, if things go further south, we could be in for even more shocks.

Regardless of those outcomes, it’s important to note one thing. Property and estate agencies generally tend to do well in all economies except the stagnant ones. As long as there are people willing to sell and buy properties, there’s money to be made. It also helps that foreign investors are already trying to exploit the market conditions, investing heavily in the UK housing sector.

“The point we are trying to make is straightforward – if you’ve got the right skill set and you’re willing to tough it out, buying a property and estate agency franchise could be a business worth investing in.”

Recommended: The Pros and Cons of Running A Franchise: Tiny But Important Details Franchisees Need to Know About

What Are Property and Estate Agent Franchises? How Do They Work?

Estate agent and property franchises are licenced divisions for large estate agencies.

As an estate agent franchise, you will helm the operations for the company in your territory. It is quite similar to being an estate agent yourself, the only difference being the branding, the additional trust and ease of doing business that come with franchising.

Here’s how a typical estate agency franchise works:

  1. The franchisor prepares a franchise model and advertises.
  2. Interested franchisees invest.
  3. The franchisor allocates a territory to the investor, trains them in running the franchise unit. Both parties arrive at a franchise agreement that decides how the revenue will be shared.
  4. The franchisee lists properties and onboards clients in the territory, brings in revenue and helps the franchisor expand their business while earning a fair share via commissions.

What Does It Take to Buy and Run a Property and Estate Agency Franchise in the UK?

Throughout our blog posts, we talk about various franchising sectors and who they are best suited to. If you are a regular reader, you’d have noticed a recurring theme – most franchising sectors do not require you, as a franchisee, to be intimately familiar with the industry. Take fitness franchises, for example. It helps if you are a certified trainer, but it’s not at all necessary for you to be one in order to buy and run a gym franchise.

The same cannot, however, be said about estate and property franchises.

This is a unique franchise business sector that resembles more closely to a regular job than a business. Don’t get us wrong – it’ll still be your business, but you will be expected to run the show yourself. You can, of course, think about bringing on board other estate agents as your employees, but that certainly wouldn’t be possible in the first few years of the business, given the relatively high salaries of the trade.

In short, estate agent franchises are best suited to those who have prior experience in the field. Here are a few factors that franchisors would expect you to have in your favour:

You Know the Local Property Market.

If you are new to the local property market, you’ll have a tough time making profitable deals for your clients. In fact, most buyers and sellers choose to work with estate agents that have been referred to them through their network of colleagues and friends. This is also where having a brand name of the franchisor on your side helps.

Property deals are roundabout, complex and full of uncertainties. You need to know the prices, the localities, the trends and the opportunities inside out to be able to consistently stay profitable.

You Are A Good Communicator and Negotiator.

If there’s one trade that requires you to be an extremely good communicator and negotiator, this is it.

You will never be able to make a sale or strike a lease deal for your clients if you don’t have these soft skills. Quite understandably, you learn these on-the-job, and hence, being an experienced estate agent gives you a significant edge over others who aren’t.

You Have A Strong Local Network.

As we mentioned earlier, people like to work with estate agents who are recommended to them by others.

So, having a strong local network of peers, colleagues, clients, businesses and professionals helps a lot. It will help you find opportunities before they even surface, and close down deals that may otherwise seem impossible to crack.

You’re Willing to Persevere.

No, we aren’t talking about the generic you-need-to-work-hard quality.

Property and estate business often has you handle long-winding deals. It may take months for you to close a deal from the date you first started working on it. To be able to stay on top of a dozen such deals that are in various stages of development takes a great deal of perseverance. If you have it, you’ve got a good chance of becoming a successful estate agent franchise.

A Common Question We Get A Lot: Do I Need Any Certifications to Run an Estate Agent Franchise?

No, you don’t.

Being an estate agent essentially means you’ll be facilitating property transactions. You don’t require educational or professional certifications to do that. That said, it always adds more credibility to your profile if you have memberships and certifications from industry-related associations.

Recommended: Know What It Takes to Run a Successful Franchise Business.

How Much Does It Cost to Buy an Estate Agent and Property Franchise in the UK?

Estate agent franchises don’t cost a lot in franchise fees. In most areas, you can get started for an initial investment of £25,000 to £40,000.

But that’s only the tip of the iceberg.

Running a real estate franchise business has enormous potential – and such opportunities rarely come cheap.

You’ll need to invest heavily in marketing, networking and client acquisition each year. Depending on the state of the market, you’ll also need to invest in educating clients to some degree. Making phone calls and arranging business lunches is just one part of the job – you’ll need to put a lot more in online and local advertising.

Most franchisors share the marketing expenses with their franchisees. Moreover, many franchisees choose to run additional marketing campaigns over and above the ones set up by the franchisor.

If you’re operating in a large territory, you may also need to hire staff for office operations, sales and scheduling. As operations expand, you may think about hiring independent estate agents to help expand your business.

All things considered, a property and estate agency franchise will cost you upwards of £100,000 to £150,000 in the first year. You will need to pump in cash on a regular basis into the business, especially while you get the word out. Many estate agents agree that if you can turn your business cashflow-positive by the end of your first year, you can assume a greater control over the unpredictability that surrounds this business.

Recommended: Here’s All You Need to Know About Raising Funds to Start Your First Franchise Business.

How Much Can You Expect To Earn Running an Estate Agent Franchise?

It depends entirely on the territory you’re operating in, the state of the market and the investments you have made.

Typically, a new estate agency franchise can expect to earn £20,000 to £50,000 in profits in the first year. If your estate agent business is home-based, it can save you a good deal on overheads, bolstering your bottom line further.

Top Property and Estate Agency Franchises in the UK

Although there exist dozens of estate agent and property franchises in the UK, there are only a handful that well-and-truly make their mark. Here are some of the popular candidates*:

1. Belvoir

  • Minimum Initial Investment: £45,000 (plus VAT)
  • USP: Letting and property franchise
  • 20+ years in business
  • Valuable brand name
  • 170+ franchise units in operation
  • Three-week training
  • Ongoing support
  • Full BFA Member

2. The Property Franchise

  • Minimum Initial Investment: £35,000 (plus VAT)
  • USP: Leading multi-brand lettings and estate agency
  • Office-based franchises
  • Sales training
  • Networking training
  • Ongoing support
  • 100+ units in operation, 60% of which are in business for over 5 years
  • Full BFA Member

3. Realty UK

  • Minimum Initial Investment: £50,000 (plus VAT)
  • USP: Affordable property and estate management franchise
  • Exclusive territories
  • International presence
  • Full training provided

4. The Good Estate Agent

  • Minimum Initial Investment: Monthly recurring fees (contact the franchisor for more information)
  • USP: Affordable, local, hybrid estate agency
  • Online lead generation
  • Full access to bespoke online portal
  • Ongoing support
  • Website
  • Marketing support
  • Home-based estate agency franchise
  • Admin support

5. Northwood

  • Minimum Initial Investment: £25,000 (plus VAT)
  • USP: Estate and letting agency
  • Reputed brand name
  • 50+ units in operation
  • Full sales and networking training provided
  • Full BFA Member

*The information provided in this section is merely indicative in nature. Please contact the respective franchisor for more information.

Property, Estate and Letting Franchises UK: The Takeaways

  • Choose a reliable franchisor with an established track record.
  • Explore additional revenue streams by working with local landlords, associations and businesses.
  • Put the brand and perception of the franchisor’s business to good use and to your benefit.
  • Be aware of the unpredictable nature of the sector.
  • Invest if and only when you have alternative sources of income to rely on (especially in the first two years).

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

If you’re an experienced estate agent, we would love to hear from you. Do write to us here, letting us know of your experiences in the industry. We choose select entries to feature on our popular franchise success stories page.

Belvoir Lettings shares rise as it hails success of its assisted acquisitions programme

January 15, 2019

The assisted acquisitions programme has been embraced by all three networks within the Belvoir Group, with 11 taken up by the Belvoir network, 13 by Northwood and 2 by Newton Fallowell.

Belvoir Lettings PLC (LON:BLV) shares rose on Thursday after the UK’s largest property franchise group exceeded its 2018 target for assisted acquisitions by its franchisees.

The AIM-listed lettings agent said beefing up the assisted acquisitions programme is a core part of its growth strategy.

During 2018, franchisees completed on 26 transactions under the Belvoir-assisted acquisitions programme, increasing the acquired annualised network revenue to £6.9mln; the target for the year had been £6.6mln.

These acquisitions are expected to add in excess of £600,000 a year of recurring management service fees, which is the main revenue stream for the group. It also adds more than 4,400 managed properties, increasing the portfolio by 7%.

The Belvoir Group now represents over 62,000 managed properties.

In comparison with 2017, the average size of the business acquired increased by 85% to £266,000 in 2018 from £144,000 annual revenue in 2017. This reflects a contraction of the number of agents in the sector not only among the smaller operators but also many of the larger independent agents, as the impact of the number of landlords selling their properties due to a less favourable tax regime and the increased regulation on lettings agents took effect.

Belvoir provides funding of up to 30% of the purchase price through its assisted acquisitions team. In 2018, the group contributed £660,000 in total towards purchases, representing around 9% on average of the purchase price.

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

CEO lauds franchise opportunities

“The Assisted Acquisitions programme, now in its sixth year, has gone from strength to strength and continues to grow. Since 2014 we have provided both commercial and financial support to 70 of our franchise owners, many of whom have doubled the size of their business overnight,” said Dorian Gonsalves, the chief executive officer of Belvoir Lettings.

Related: Belvoir Lettings Interim Earnings Rise, Declares Unchanged Dividend

“We continue to witness consolidation within the sector, a trend which supports our 2018 prediction that there will be 20% fewer agents by the end of 2020. This is evidenced by our acquisition opportunities pipeline being far greater than in previous years,” he added.

“Our franchisees are professionally and financially equipped to take advantage of these opportunities and we currently have 83 franchise owners who are actively searching for a suitable match within their territory. Belvoir is here to support our franchisees’ entrepreneurial growth ambitions, which will benefit the group and our shareholders alike,” Gonsalves concluded.

In afternoon trading, shares in Belvoir Lettings were up 1.1% at 92.50p.

Source: Proactive Investors