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£30,000 - £ 60,000
Lettings & Property
£40,000 - £60,000
About The Flatman Partnership
The Flatman Partnership (Flatmans) is a franchise that enables individuals with no previous property experience to become property experts in their own local market. Running your own office specialising in residential sales and lettings, you will be covering all sides of the market, which allows you to gain maximum returns from your business. It’s a fun, exciting and rewarding opportunity. No two days are the same, and if you are diligent, reliable and like meeting people you will do well at this business.
The all-encompassing approach of the Flatmans’ system means that very often a local office will benefit from multiple transactions for the same property. For example, a local landlord may engage you to find him a suitable Buy-to-Let property. You can source the property, facilitate the deal and that’s a property sale on your books. This same landlord may well then ask you to manage the letting of the property and find him tenants, so not only did you benefit from a healthy commission on the sale of the property, you will then build an ongoing residual income from the monthly management fees. Ultimately, if that landlord decides he would like to sell the property, who do you think he will call first?
It is this end-to-end service that has been the mainstay of the Flatmans’ system for over 15 years and has enabled each office to become known as the local property experts.
Many traditional estate agencies focus on either sales or lettings, but very few actually handle both simultaneously. Experience of trading during difficult market conditions (including the 2008 property crash, the effects of Brexit and of course the COVID-19 pandemic) has shown that by combining sales and lettings into one office, there is a tendency for downturns in one area of the market to be matched by upturns in the other. For example, if mortgage rates become unaffordable, there are fewer houses being sold, but more being rented. The Flatman Partnership has gained a reputation for all-encompassing reliability and quality of service which were the original hallmarks used to establish the business over 15 years ago, and which are still used to great effect today.
How does the Flatmans franchise model work?
The system in which you will operate as a franchisee of The Flatman Partnership has been tested and refined to ensure that you will be able to join with no previous property experience and build up the skills and knowledge necessary to develop your own thriving business in a very short space of time.
Flatmans will train and support you in all aspects including:
• Securing funding
• Finding a location for your office
• Getting your office set up and running (the franchise package fee includes all of your furniture and equipment)
• Getting your qualifications
• Recruiting staff
• Finding customers
• Handling property sales
• Handling property lettings
• Administration of your business
• Opening additional offices.
How much does a Flatmans franchise cost?
Before you join, one of the things it shall discuss in much more detail will be the financial implications of becoming a franchisee with The Flatman Partnership, however, the basics are as follows:
The total franchise package fee is £29,995-plus VAT which includes everything to equip you, and your new office, to get up and running as swiftly and seamlessly as possible, including:
• Training at the head office
• IT equipment
• Telephone system
• Window displays
• Desking and chairs
• Stationery packs
• Promotional leaflets
• ARLA exam
• Vehicle graphics panels
The most variable element of the set-up cost is usually related to the premises and the condition it is in, as there may be some additional cost in getting it ready. As part of the support package, Flatmans will visit potential offices with you and help you obtain quotes for any fit-out work.
In order to have a realistic budget, your total investment including the franchise fee and an element of working capital is likely to fall between £40,000 and £60,000.
What is the earning potential of a Flatmans franchisee?
Very few new businesses start out making a profit in the first year, but amazingly this one does! Flatmans forecasts show that (after all costs) you should expect to see a small profit in Year One, a healthy profit of over £70,000 in Year Two rising to more than double that by Year Four. Of course, these figures aren’t guaranteed, but they are a good indication of the performance that Flatmans own offices have proven.
What is Flatmans looking for in its franchisees?
The property business is very much a people business. As a Flatmans franchisee, you will be dealing with people day-to-day, handling what for some people is the largest transaction they will ever make. For many people, moving house is a stressful time, and part of your role is to reassure them that everything is in safe hands. You will need to be a good communicator; empathetic, friendly, warm and welcoming. As you will have a local office, you will always need at least one other person working alongside you so that the office is always manned whilst one of you is out on appointments. This business can work extremely well for a husband and wife team or two business partners.
Alternatively, if you are coming into the business alone then Flatmans can assist you in identifying the ideal qualities for your first staff member, and help you to bring them on board and get them up to speed.
The role is very varied; one day you might be dealing with a multiple property-owning landlord, who will expect efficiency and hard facts, and the next day you may be dealing with a nervous young couple on their way to buying or renting their first property together. You will need to be a good listener and able to react to the needs of your clients accordingly.
You will need good attention to detail in order to ensure that sales and lettings are progressed without delay (Flatmans will train you on how to do this) and you will want to make sure that your customers are not only delighted with your level of service but will happily recommend you to their friends and families.
Unfortunately many UK estate agents have developed a bad reputation by not listening to the needs of their customers (how often have you requested information on a particular type of property and been sent something completely different?) and by being unreliable; not turning up for appointments or turning up late, not having the right keys, failing to keep you informed regarding the progress of a sale or purchase, the list goes on. The Flatman Partnership has developed an excellent reputation that it now enjoys by simply doing all of the right things, all of the time.
It really isn’t difficult to do things properly, and by being the best in your area, with Flatmans help you will enjoy that same reputation and develop a rewarding and enjoyable new career.
What training and support does Flatmans provide franchisees?
You will be supported in every single aspect of becoming the local property expert in your chosen location.
Everything from getting set up, achieving the required qualifications, setting up your office, finding customers, finding staff, marketing, accounting and much more is all part of the Flatmans system. A system that is designed to support you every step of the way in building a successful business and running your own local office.
Naturally, there will be a lot to learn and it might sound daunting at first, but rest assured Flatmans unique training and support systems - together with continual advice and guidance from its own experienced specialist support team - will always be there to help you build your business to whatever level you would like it to be.
In order to develop its franchise support systems, Flatmans ran a pilot operation by taking someone with no previous property experience and showing them everything it knows about setting up and running their own local property office. Flatmans trained and supported them but worked closely with them to gain their insights and feedback.
This helped Flatmans refine its systems and processes and now this pilot franchisee is an integral part of the support team. There’s nothing more reassuring than being supported by someone who has been on the same journey before you. Flatmans knows exactly how you will feel starting out on this journey and what help and support you will need in growing your business because it has been there and done it!
What locations or territories is Flatmans looking to operate in?
The Flatman Partnership has territories available throughout the UK.
What are the franchise terms of agreement and renewal?
The agreement is a standard five-year agreement with the option to renew at least twice.
Why is The Flatman Partnership franchise a good investment?
The world of property has historically been one of the strongest performing sectors over the long term. However, by including sales as well as lettings, The Flatman Partnership model covers both ends of the sector and makes for a far more resilient model. This all-encompassing approach, delivered for a class-leading monthly management services fee makes a Flatmans franchise your safest route into this exciting and rewarding sector.
How can I get started on setting up my own The Flatman Partnership franchise?
To find out more, or to request further information on franchising with The Flatman Partnership, complete the form below and click on the ‘Request Free Information’ button now.
Request Free Information
Send a free enquiry to The Flatman Partnership for further information!