As lockdown lifts, is now the perfect time for independent agents to consider joining Belvoir?
With lockdown restrictions easing, could now be the perfect time for independent agents to consider selling their business, or become part of the Belvoir Group? In this article, we look at the benefits of franchising, and how the strength of the Belvoir business model helped agents to ride out the storm of the recent pandemic.
Lockdown was a challenging time for all business owners, but Belvoir and Northwood agents retained 90% of their lettings income, thanks to the resilience of the franchise business model and a fantastic reputation within the industry.
“Franchising has proved itself to be the most resilient and successful business model during the recent pandemic, and we are receiving many enquiries from independent agents who are interested in finding out more about the Belvoir acquisition opportunity,” says Belvoir CEO Dorian Gonsalves.
“Belvoir has an extremely active Assisted Acquisition Programme, which is very much open for business. We have franchisees across the entire Group who are looking to expand their business through acquisition and our dedicated Acquisition Team is working very hard to match those franchisees with the right business opportunity.
“The timing of an acquisition is important, but when the right acquisition opportunity comes along it can undoubtedly be good for business growth, no matter when it occurs. This was certainly the case for Dave Roberts from Belvoir St. Helens, who completed on the acquisition of shares of JB & B Leach Ltd on 19th March – just days before lockdown was announced.”
“This is the third, and largest acquisition I have completed in recent years,” says Dave. “It is a sales and lettings agency, that is located next to my other office, making it a perfect fit. The business was founded in 1856 and is regarded as the largest estate agency in St. Helens. For the time being it will be operational under its own name, so as far as the public and staff are concerned there have been no changes. One of the previous partners has now retired, but the other one has an Mortgage Advice Bureau franchise that is physically located within the office so he is still based there. In addition we inherited 12 new staff members, 148 sales properties, of which 80 were sold STC, and 153 managed lettings properties.
“We completed the acquisition on 19th March and announced it to staff on 23rd March. Lockdown began the following day, so the timing could have been better! Even though lockdown happened, I have absolutely no regrets; in fact there have been some benefits. For example, it was a fantastic opportunity for my wife Tracy and I to review all the procedures and look at how they could be improved.
“Belvoir’s Acquisition Team worked closely with me on the acquisition and it was fantastic to have their support. Incredibly, although we only had the acquisition for a few days prior to lockdown, the income that it generated was enough to push our business into the top ten of the Belvoir rankings!”
“If you would like to find out more please visit: www.belvoirfranchisegroup.co.uk or call 01476 570000 for a confidential chat with a member of Belvoir’s Acquisition Team.”
For more details on this story visit: https://www.belvoirfranchisegroup.co.uk/news-insights/post-lockdown-expansion