Boost for Winkworth – leading agents take over brand’s Ealing and Acton franchise

September 22, 2021

Jonny Dyson, a leading London estate agent and the former regional director of John D Wood & Co., has joined Winkworth with the acquisition of its Ealing and Acton office franchise in West London.

 
Dyson has taken over the Winkworth Ealing and Acton office, in partnership with Terence Long, a previous employee of Winkworth offices including Notting Hill, Chiswick and Ealing & Acton.

As well as John D Wood, Dyson – who has been an estate agent for more than a quarter of a century – has also worked at director level at Jackson-Stops and Hamptons.

He said of the acquisition: “I needed a new challenge and left John D Wood after four years of running 10 London offices at the beginning of last year. The lockdown then gave me time to think properly about what I wanted to do for the next chapter of my career, and that was to run my own business.

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

“I was very impressed with the Winkworth network and its expansion in London, and so when the opportunity arose to buy the Ealing and Acton office franchise I talked to an old friend and fellow professional, Terence Long, and we decided this would be a great way to start a business as partners.”

He added: “It helps that it’s an area that we both know very well. There are some wonderful streets around Ealing Common, with very attractive houses, and Winkworth operate in the mid to top end of the market. Ealing offers great value for people moving out of more central areas such as Notting Hill and Kensington in search of more space. The area is incredibly well-connected, with the underground, Crossrail about to open, plus road access to the M40, M4 and M25.

“The office has a strong property management team with some very longstanding clients and a great lettings operation. We are investing heavily in the office in order to drive forward the business with a fresh approach and the backing of the Winkworth marketing and head office team.”

Dyson and Long have plans to expand further, with more Winkworth franchises around West London already in the pipeline.

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

“There is huge potential in West London and we will be looking to grow our business with Winkworth. It is very exciting to be in charge of our own business yet have the firepower of the Winkworth network across London and in the country working with us,” Dyson added.

Dominic Agace, chief executive of Winkworth, which has 60 offices in the capital, part of a nationwide network of over 100 offices, said: “We are delighted that Jonny and Terence have joined us, bringing their exceptional experience and knowledge of the property market and London agency to Winkworth.”

Lucy Britton, head of talent and recruitment at Winkworth, said: “We are always looking to identify talented, ambitious individuals who may be interested in opening a new office or taking over an existing franchise and are very happy to have a confidential discussion about their future plans and how they could join our network.”

By Matthew Lane

Source: Estate Agent Today

Century 21 UK named as UK’s best property and estate agency franchise

July 26, 2021

Century 21 UK has been ranked at number 18 in the 2021 franchise industry league table, jumping 33 places from 2020 and the top property company.

Century 21 UK has been ranked at number 18 in the 2021 league table, jumping 33 places from 2020 and the top property company.

 
The accolade comes as part of independent research by franchise B2B website.

Each year the site publishes its list of the Top 100 Franchises in the UK based on research into key areas of business performance, including stability and growth, revenue, market expansion and social responsibility.

Century 21 UK ranked at number 18 in the 2021 league table, jumping 33 places from 2020. With the top three being McDonald’s, Autosmart and Domino’s, Century 21 UK is the only property and estate agency franchise to fall within the top 80.

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

In the past 12 months, Century 21 UK launched three new business models to better support those impacted by Covid-19. The Solo model is designed to allow self-employed agents to work from home and share territories with other agents. Flex caters for franchisees wanting a better work life balance by setting their own working hours without the fixed cost of a high-street office. Finally, Century 21 Max follows the more traditional model of high-street estate agency franchising.

Each of the new models has already attracted new talent into the franchise industry, seeing new franchisees joining Century 21’s 43 branch-strong UK network.

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

Link to Franchising featureCommenting on the Top 100 ranking, Chris Summers (left), head of franchising at Century 21 UK, said,
“This is a great achievement in what has been a challenging 12-months for the industry as a whole. It’s testament to an entire team effort.

“As a business, we have been quick to react to the changing needs of both franchisees and their customers, introducing three new models that offer greater flexibility. Our 2021 ranking reflects the success of that and cements our position as one of the UK’s leading estate agency franchises.”

In addition to the Top 100 success, Century 21 UK is also celebrating achieving membership status of The Encouraging Women in Franchising (EWIF) Group. Members of the Century 21 UK team will act as ambassadors to inspire, encourage, educate and support women considering franchising or those already working in the industry.

Related: Century 21 Franchise

Chris added, “Our franchise network greatly benefits from diversity and we are committed to supporting women who are looking for a route into the franchising industry.

“Last year, we celebrated our Notting Hill franchisee Elena Dimova achieving finalist status as part of EWIF’s Woman Franchisee of the year award. Elena has been with us for over 15 years and is consistently our top performing franchisee. She is certainly testament to what can be achieved in the industry.”

Source: The Negotiator

Franchise chain opens seventh office in the same county

June 8, 2021

Franchise giant Winkworth has opened a new office in the south west at Ferndown in Dorset.

 
The office has been opened by James Hadley-Clift, his second franchise in two years for Winkworth, following Southbourne on the outskirts of Bournemouth last year.

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

Ferndown is the seventh Winkworth office in Dorset joining Southbourne, Westbourne, Poole, Milford-on-sea, Highcliffe and Mudeford.

Clift’s business partner at Ferndown is Rosella Short, who worked for five years with a London agent and is moving back to Dorset.

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

Dominic Agace – chief executive, Winkworth – says: with 100 franchised offices nationwide, including 60 in London, said: “We now have a substantial presence in Dorset and Ferndown opening reinforces our ambitions for further expansion in the south west. We are keen to talk to independent agents or those who would like to start their own businesses in the region.”

Source: Letting Agent Today

EweMove takes over nearby franchise agency and lettings book

January 11, 2021

A EweMove branch has acquired a nearby Martin & Co operation, including its portfolio of 150 managed properties.

 
Both firms are owned by parent company The Property Franchise Group.

The deal sees two members of staff from Martin & Co in Salisbury join the EweMove operation based in Winchester.

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

EweMove franchise holder Malcolm White says: “Having launched EweMove in 2016, the business has enjoyed lots of successes from a standing start and we’ve helped lots of local buyers, sellers, landlords and tenants. But to see the business grow in this way is hugely exciting – particularly as Martin & Co is an agency with such an established reputation in the area.”

Related: Property & Estate Agency – Search Franchise Reviews Directory

He continues: “Our EweMove business is very much based on a genuine passion for property and an absolute commitment to customer care. We’re hugely excited about the year ahead and look forward to helping more people locally with their property plans.”

The Property Franchise Group is currently in talks concerning a possible takeover of Hunters.

Related: EweMove Franchise

By Graham Norwood

Source: Letting Agent Today

Belvoir completes milestone acquisition

October 16, 2020

Belvoir Group, the UK’s largest property franchise, has successfully completed the 100th transaction under its Assisted Acquisitions programme, which forms a major part of the firm’s growth strategy.

 
The Assisted Acquisitions programme, established in 2013, has now supported 100 acquisitions by its franchisees, with a total deal value of £25m, boosting franchisee network revenue by around £24m.

Belvoir chief executive Dorian Gonsalves commented: “I am delighted that the Belvoir Group has been able to successfully help our franchisees to acquire 100 independent businesses since the launch of our specialist acquisition programme in 2013.

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

“Helping franchisees to develop their businesses through acquisition remains a strong growth strategy for Belvoir and this milestone is a superb achievement by our inhouse Acquisition Team who work so hard to research, source and assist franchisees with the funding of viable opportunities.

“The team have helped franchisees from across all of our brands to develop and grow their businesses, achieving a total acquisition deal value of £25m. In addition, it should be noted that 100 independent agents from all across the country have been able to complete on an exit strategy that has enabled them to realise their assets, safe in the knowledge that the business they are selling will be operated by highly professional agents who have access to all the back-up they need from our franchise support team at central office.”

The 100th transaction was undertaken by Mahomed Imtayas of Northwood Wolverhampton, who has acquired Millenium Properties, adding 250 managed properties to his portfolio.

Related: Belvoir Franchise

Gonsalves added: “I am absolutely delighted for Mahomed, who I met during his training course at central office. I was very impressed by his enthusiasm and commitment, and also his determination to build a business that he can then pass on to future generations of his family. I am confident that Mahomed will make a great success of this business opportunity, which has enormous potential for further growth.”

Belvoir Group is on a post-lockdown acquisition trail according to its CEO, Dorian Gonsalves.

He continued: “Many franchisees across the Belvoir, Northwood, Newton Fallowell and Lovelle brands are actively seeking to expand their businesses through acquisition, with some already completing on multiple business transfers that have doubled the size of their portfolio overnight.

“I would urge any independent agent who is considering the sale of their business, no matter what size this may be, to contact a member of our acquisition team for a discussion about how we may be able to help them realise their ambitions.”

By MARC DA SILVA

Source: Property Industry Eye

Belvoir CEO delighted housing restrictions have been lifted and expects quick lettings bounce back

May 17, 2020

Belvoir Group PLC’s (LON:BLV) Dorian Gonsalves says the re-opening of the housing market by the government has come earlier than expected.

 
The ban on people moving and renting houses was lifted on Wednesday, two months after the lockdown was introduced but a month earlier than it was budgeting for.

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

Gonsalves expects a swift recovery especially on the lettings side as this is a fast-moving market and people might have been fed up with their house during lockdown, while landlords will be keen to get voids filled as soon as possible.

Belvoir has also so far seen a far lower level of arrears than it predicted when the lockdown was introduced.

Related: Belvoir Franchise

Gonsalves adds it did not lose one franchise to financial distress during the lockdown period, underlying the strength of its network.

By Andrew Scott

Source: Proactive Investors

Belvoir Profit Rises In 2019 But Decides Against Final Dividend

April 4, 2020

Belvoir Group PLC on Monday said it will not be paying a final dividend for 2019 despite profit growth, as Covid-19 is expected to hurt its 2020 performance.

 
The property franchise said pretax profit in 2019 increased to GBP5.6 million from GBP5.5 million a year ago, as revenue grew by 43% to GBP19.3 million from GBP13.4 million.

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

However, Belvoir noted its administrative expenses jumped to GBP7.6 million from GBP6.6 million year-on-year.

The company said Covid-19 is expected to have a “significant” impact on trading in 2020 and therefore it has decided against proposing a final dividend for 2019.

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

For 2018, the company paid a total dividend of 7.3 pence, while interim dividend for 2019 totalled 3.4p.

“Whilst 2020 will be adversely affected during the period of economic inactivity due to Covid-19, the group has achieved a very good set of results for 2019, with outstanding revenue performance, having overcome the twin challenges of the tenant fee ban and the economic and political uncertainty surrounding Brexit,” said Chief Executive Dorian Gonsalves.

Related: Belvoir Franchise

AIM-listed Belvoir shares were trading 6.4% lower in London on Monday at 94.98p each.

By Evelina Grecenko

Source: Morningstar

Franchise giant Winkworth snaps another independent

March 21, 2020

Franchise giant Winkworth has expanded its presence in Reading with the acquisition of a local independent lettings agency.

 
It’s snapped up AMPM, adding a portfolio of over 80 landlords to its lettings business, with flats and houses within a five mile radius of the Winkworth office in the town centre.

Angela Cox, owner of AMPM, will work the new owner as a consultant.

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

Dominic Agace, Winkworth chief executive, says: “This latest expansion reflects our growth plans in the Home Counties. We are also keen to talk to independent agents or those looking to launch their own businesses in the wider home counties region.”

Source: Letting Agent Today

Property Franchise Group shares rally over 8% on modest progress

February 1, 2020

Property Franchise Group (LON:TPFG) saw its shares rally during the Tuesday session, after posting modest progress for the financial year ended 31 December 2019.

The company’s statement to its shareholders read,

 
“The Group has successfully navigated a difficult year for UK residential property and performed in line with market expectations, delivering growth in both revenues and management service fees. Our franchisees successfully mitigated much of the impact of the tenant fee ban and achieved a record performance for lettings revenue. The Group’s hybrid brand, EweMove, is also anticipated to show another significant improvement in profit over the prior year.”

Property Franchise Group said the challenging conditions owed somewhat to the impact of the Tenant Fee Ban, which was passed in June 2019, alongside wider macroeconomic forces.

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

Despite the difficult backdrop, the group reported year-on-year growth in overall revenue, from £11.2 million, to £11.4 million. Alongside this, the company’s Management Service Fees rose from £9.4 million to £9.6 million, and the number of tenanted managed properties serviced increased from 55,000 to 58,000 during the same period.

The company added that during FY19, its assisted acquisitions programme supported 24 acquisitions by franchisees and added 2,381 managed properties. It continued, saying that it had continued to invest in technology, and that its pay-per-click campaign via the traditional high street brands’ customer websites, had seen a 54% increase in leads, up to 47,000.

It appears TPFG have managed to place themselves among the ranks of the successful, in spite of the adverse conditions which have unsettled some of their equally established counterparts.

AFI Development (LON: AFRB), for instance, pointed to “challenging market conditions” as the reason for their underwhelming performance. The Russia-focused company said its fall in profits and residential sales could be attributed to the state of the domestic economy.

Likewise, Schroder Real Estate Investment Trust (LON: SREI) also complained about the backdrop of a ‘challenging market’, which saw its NAV contract and prompted it to adjust its strategy.

Property Franchise Group comments

The company’s Chief Executive, Ian Wilson, responded to the update:

“Our ability to deliver revenue growth and continued operational progress over the year, notwithstanding the market headwinds, is testament to the strength of our business and the franchise model.”

“Looking ahead, there are numerous opportunities for us to now build further momentum across the business, as we continue to invest in our traditional brands and EweMove remains robust. In parallel we will focus our attention on growing a national mortgage brokerage network under our newly created financial services division.”

Related: Property & Estate Agency – Search Franchise Reviews Directory

“This is my last year with TPFG and I’m delighted that we have continued the journey that we started with our IPO in December 2013, having materially increased the dividend every year. We are dedicated to continuing to create value for all our stakeholders and are confident we will continue to do so in the year ahead.”

Investor notes

Property Franchise Group shares rallied 8.37% or 18.00p, to 233.00p per share at the end of the Tuesday session 28/01/19 17:08 GMT.

Looking ahead, the company said,

“Early indications of improving market conditions underpin our expectation that the volume of house sales should increase in 2020. The lettings market is also anticipated to remain healthy, with rising rents and increased confidence leading to more opportunities for the Group’s franchisees to acquire competitors’ books than were available in 2019.”

“Post period end, the Group announced the launch of its “buy and build” Financial Services division and the appointment of Mark Graves to the new role of Financial Services Director.”

No broker forecasts were available for this stock, but the group’s p/e ratio stands at 16.17, and their dividend yield is agreeable at 3.61%.

By Jamie Gordon

Source: UK Investor Magazine

EweMove and Martin & Co parent firm sets up mortgage arm

January 22, 2020

The Property Franchise Group – which operates five High Street agency brands and the EweMove hybrid – has set up a financial services division.

 
It looks set to handle mortgages for the agency brands to offer clients.

TPFG has told its shareholders that it intends to pursue a “buy and build” strategy to develop this new division, targeting the acquisition of “quality financial services businesses which are relevant to the group’s core business.”

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

This division will operate as a subsidiary TPFG and will service its existing franchisees.

“This strategy seeks to enable the [new] division to capitalise on the significant volume of leads generated by the core business, whilst the property franchisees are able to generate further revenue without adding to fixed overheads” says the franchise giant.

Related: Property & Estate Agency – Search Franchise Reviews Directory

Financial services will be available as a new franchise opportunity, with TPFG holding the master franchise rights and delivering to its franchisees a separate financial services brand, back office systems, a supply of “whole of market” mortgage products and a compliance function.

To kick start the division, TPFG has acquired a 72.25 per cent stake in Auxilium Partnership Limited, a protection advisory business.

Related: EweMove Franchise

Auxilium Partnership was launched by Mark Graves in March 2019 with the aim to enfranchise, educate and encourage intermediaries, such as mortgage brokers, to develop their protection business.

It’s been announced that Graves, who has 30 years experience in life assurance, will now lead TPFG’s financial services division.

By Graham Norwood

Source: Estate Agent Today