This is a unique opportunity to take over an established franchise business in a popular city. The business has been trading for nearly 13 years and was taken over by the current owner in 2016; it is now on the market due to the franchise owner undertaking other business ventures.
The business is primarily lettings focused, with the emphasis on a fully managed service. The business could be improved by increasing the managed portfolio, which in turn would generate repeat income on a monthly basis and over time this will increase the asset value. A sales service has recently been launched however, it has not yet reached its full potential and the business would benefit from more focus on developing the Sales service.
The new owner would be expected to open a second office within the area within an agreed timescale; therefore this venture would suit someone looking to run a multiple office business.
• Rolling 12 months turnover £235,616
• 97% income generated from lettings activity
• 60% income generated from the managed portfolio
• Low level of multiple Landlords and no student properties
The office has a passing rent of £13,000 per annum and expires in 2019. The office is in a good high street location amongst other estate agents/letting businesses.
Martin & Co is a brand owned by The Property Franchise Group PLC, one of the UK's largest and most experienced franchise operators. The initial Franchise Fee is £18,500 +VAT and the Franchise Agreement is for 5 years. The monthly Managed Services Fee (MSF) is 9% +VAT of your gross monthly income and includes unlimited ongoing Head Office support. The Franchise Agreement is renewable for a fee of £500 +VAT, there is no upper limit to the number of franchise renewals.
The Property Franchise Group can assist you with funding and the business model is seen very positively by our panel of high-street banks. You can secure up to 70% of the total costs of acquiring this business and any working capital required, and the business could be purchased with as little as 30% personal investment. Some sellers may consider staged payments and we can assist you in the negotiation of a suitable funding solution to meet your personal circumstances.
N.B. Costs and franchise fee may vary with the hybrid route in comparison to the traditional high street set up.
FULL TRAINING & SUPPORT
The Property Franchise Group will ensure that you are fully trained before you take over the running of this business, including an in-depth induction course, market trends/analysis review, mentor training, plus on-site support days with an experienced property professional, known as a Launch & Integration Manager. We also offer various courses throughout the year for you and your staff. No previous property experience is required to make a success of this venture!
This opportunity is on the market for £200,000 and full business summary information is available upon completing the non-disclosure agreement.
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