The property market in the UK contributes a staggering £101 billion to the British economy every year. Bearing this in mind, you might be thinking about joining this lucrative market. Do you think you’ve got what it takes to run an estate agent franchise in the UK?
If you’re not an experienced estate agent, starting up your own business may not be the way to go. This is why estate agency franchise opportunities are such an attractive proposition. You’d be joining an established company with a great deal of brand recognition and can hire trained staff to work for you.
This is one of the best times to join an estate agent franchise too: for the first time in two years, the value of properties has increased across all regions of the UK. If you’re a consummate businessman or businesswoman, you could become very wealthy through the property market.
Join us as we take a look at why joining a franchise is a good proposition and see what is the best estate agent franchise in the UK for you.
Why join a franchise?
So before we continue, let’s answer one of the most burning questions that newcomers to franchising have. Why should I join a franchise? What’s stopping me from going it alone?
The truth is nothing is stopping you from going it alone but it may not make the most business sense. If you are not an experienced estate agent or don’t have any experience with the property market, will you know how to get clients? Are you prepared to build up brand recognition over a long period?
When you become a franchisee for an estate agent franchise in the UK, you’re not just opening a business, you’re gaining access to a support system in exchange for your investment.
This support system can help you find clients, help you with marketing and can increase your profits. If you’ve got any questions, you can ask the franchisor!
What’s more, joining a trusted estate agent franchise means that you’ll have brand recognition without doing any work. It’s not a bad deal at all.
Even seasoned property veterans can make their lives easier by joining a franchise. You’ve got nothing to lose. For more answers to common questions about franchising, take a look at our FAQs section.
What is the best estate agent franchise in the UK for me?
There is a wide range of different estate agent franchises in the UK for you to choose from. Determining which one is best for you will require you to look at what particular sector of the market you want to get into.
Would you rather work with residential properties or commercial ones? How much money are you willing to put down as an investment? If you want to work in residential property do you want to work with flats or apartments?
There is a wide range of different estate agent franchises in the UK. We understand that choosing the right one for you can seem confusing. Let’s take a look at some of the major players in estate agency and find the right one for your budgets and your needs.
Approved Service Apartments
If you are hoping to only make a small initial investment, then Approved Service Apartments could be the right estate agent franchise in the UK for you. Their minimum investment is set at only £25,000.
Headquartered in Manchester, Approved Service Apartments’ business model is based around buying properties and refurbishing them. They then run them as serviced apartments for business and leisure travellers. The apartments cover a range of sizes and types, from one-bedroom apartments to large and lavish mansions.
As part of their services, the apartments often include gyms, swimming pools and views across their cities. These facilities occupy a somewhat untapped niche in the market between unserviced AirBnBs and traditional hotels, giving travellers a more relaxed and private feel than most hotels.
As a franchisee, you would not need to buy properties and develop them if you don’t want to. Instead, you can work as an agent, using the company’s innovative marketing technologies to secure new clients. You can work from home or a rented office at any hour of the day or night.
You do not need to have any experience in the property sector, as you will be given an intensive induction to the business model. Franchise fees are set at 50 per cent of any booking fees that you bring in. Approved Service Apartments state that it’s possible to bring in six figures every month after you’ve been working for six months.
As they have one of the lower estate agent franchise cost in the UK, this is a great option if you don’t have a large amount of capital.
If serviced apartments aren’t for you and you’d rather join a more traditional estate agent franchise, Belvoir may be for you. They have a range of estate agent franchises for sale in the UK, with initial investments of between £45,000 and £200,000.
In exchange for this investment, you’ll join an estate agent franchise that specializes in letting. Belvoir has been named Lettings Franchise of the Year by the Lettings Agency of the Year awards over multiple years.
The franchise will use statistics to help you find the right area to set up in so that you get plenty of clients. Once here, they will help you develop a strong business plan so you can start placing prospective tenants in property. After they’ve been in business for a few years, some Belvoir franchisees also branch out into selling properties.
The company gives you a very high level of training, ultimately resulting in you earning a BTEC Level 2 accreditation. Regular business meetings and a mentorship scheme are also on hand to make sure that you are staying on track and making as much money as you can.
Belvoir claims that you will be able to break even within 12-18 months. In 2015, one Belvoir franchisee achieved £1 million in turnover.
When it comes to brand recognition, the easyGroup have it nailed. The group includes renowned brands including easyJet, easyHotel and easyGym. If customers are looking for good, low-cost services, it’s one of the first companies that they think of.
easyHub is maybe the best estate agent franchise in the UK if residential properties aren’t where your interest lies. easyHub is focused on providing businesses with flexible office space. They offer co-working space and offices, perfect for startups and established small businesses alike. At present, there are locations in Derby and Greater London.
The business offers training across management, operations, financial matters, design and creating a business plan. The initial investment is set at a minimum of £250,000, so this is not the cheapest option out there. However, the company claim that their brand recognition will help you bring in a wide range of clients.
The company are looking to expand across the UK and Europe, so wherever you’re hoping to start your business, they can help you.
Co-working spaces are an expanding market, with the industry giant, WeWork, worth a massive £37 billion. It’s reported that there were 830,000 square metres of flexible office space in 2018, and it is only becoming more prominent. If you’re interested in being a part of this growing industry, easyHub is a fantastic option for you.
With a low minimum investment of £14,995, could Lobster Lettings be the best letting agent franchise in the UK for a canny investor? This small company is looking to branch out across the UK. Headquartered in Wigan, the company’s workers have a combined 58 years of experience in the letting industry, specializing in residential properties.
Lobster Lettings are proud to specialize in helping those receiving DSS payments to find affordable, pleasant homes to live in. They aren’t prejudiced against any clients, which gives them an edge in a market that routinely discriminates against benefit claimants.
If you are interested in joining this ethical company, they will give you a great deal of support in return for your initial investment. Their paperless IT support systems give you peace of mind and come with great support if you’re having any issues.
If you do not have any experience in the industry, Lobster Lettings will also help to train you up into a top-class letting agent. Only got a little bit of cash to play with? Then Lobster Lettings could help you get your foot in the industry door.
Ready to join an estate agent franchise in the UK?
There are a lot of different estate and letting agent franchises in the UK and we’ve barely scratched the surface of different franchises that you can join. If you have specific requirements and want to, for example, join an online estate agent franchise in the UK, we’d recommend that you take a look at our catalogue of franchises to find the right one for you!