Franchise Success Stories
Want to experience huge growth with a resale business? That’s exactly what business partners Peter Brown and Paul Maruna did.
The partners have now been trading for just over 2 years after purchasing Croydon as a resale franchise at the end of 2009. Throughout this time the Martin & Co franchisees have been star performers for the brand.
The figures reported for the Croydon office reflect this success. Over the last year the office has experienced dramatic growth of 41% in turnover!
The business has continued to go from strength to strength proving that following the right systems and processes reinforced and by our head office function a resale can turn into a very successful and money making business.
This extraordinary growth was recognised the 2011 annual conference with the office being awarded with the Fastest Growing Business. This award celebrates the passion for results and customer service demonstrated by Martin & Co franchise owners Peter, Paul and their team who have been successful in growing the business year on year.
Commenting on the award, Richard Martin, Chairman said that Peter and Paul had not only achieved superb results but had “instantly embraced everything that Martin & Co stands for – integrity, professionalism and straight-talking, good advice. Landlords and tenants alike clearly know where they stand and I have been really impressed with the positive feedback I have received.”
The benefits of buying a resale business are clear. You have an income from day one which typically increases significantly under new ownership.
In 2008, new franchisee Mark Beckett bought the Stoke on Trent franchise as a new business venture. Previous to this Mark developed his own property rental business. During the last 10 years Mark gained firsthand experience of being a landlord and the problems encountered by directly managing their own properties. Mark had the relevant experience and proved a natural fit to move onto a lettings franchise.
The Stoke on Trent office have worked hard since 2008 to develop a strong presence in the local lettings market and earn a reputation for delivering excellent levels of service for both Tenants and Landlords alike.
Consequently the office has consistently hit targets that exceed the predicted figures in the initial business plan. The office has experienced growth of 40% over the last year and was a finalist for Most Successful Business and the Fastest Growing Business at the Martin & Co annual conference in 2011.
Mark’s success is down to his highly driven personality, he has been strongly supported by his partner Liz Verney who has a marketing background in the automotive industry.
The office devoted a large amount of time on business generation and highly marketed the business in the early stages.
Mark focussed on successful staff selection using the Martin & Co recruitment team, making sure the offices needs and the local area are matched to the individual securing excellent staff retention.
By following the advice given by Martin & Co UK and the support and guidance from the operations director, the Stoke on Trent office continues to exceed growth expectations.
Even after seven years of trading, the Rochdale & Bury office of Martin & Co continues to grow, experiencing incredible 26% growth in turnover during 2011.
Since opening Phil Watson, franchise owner, has developed a well established business and has certainly reaped the rewards in what is clearly a growing sector. Phil has ensured that Martin & Co have kept a sound reputation in the area and is proud that the many of the new instructions his office receives have been on a referral basis from existing landlords happy with the service he and his staff provide.
Phil opened the doors of the Rochdale office in 2006 after a nine year career in the Royal Air Force, followed by several years working within the telecommunications industry in a strategic management role.
During that time Phil invested in a small property portfolio where his interest in the sector developed. Following a number of bad experiences at the hands of local estate agents 'managing' his properties, Phil decided it was time to combine his passion for property and experience of growing a property portfolio to open his own business, one that would specialise in property management and lettings - thus providing landlords in Rochdale and surrounding areas with a professional and knowledgeable alternative.
Although supplied with the business acumen to manage and develop a multimillion pound telecommunications portfolio, Phil did not have direct experience of running a business and decided he needed the support of a franchise model. Martin & Co was able to provide proven systems and processes to grow a successful lettings business. Phil commented “I wanted the support of a national brand and that’s exactly what Martin & Co could offer, as well as the expert dedicated knowledge they provide on the lettings industry”.
Since setting up the business Phil has continued to grow not only his business but also his knowledge and experience in lettings by attending many of the in house Martin & Co training courses. In addition, he has completed the National Federation of Property Professionals (NFOPP), Technical Award in Residential Lettings & Property Management which has enabled his office to become a Licensed Member of the Association of Residential Letting Agents (ARLA). He also recently completed his Level 7 Diploma in Strategic Management & Leadership at Liverpool Hope University proving again that growth is not just about resting on ones laurels, it is about continually striving to be the best through continuous professional development.
With clear focus and direction, Michael Van de Vyver has developed a hugely successful business which has shown consistent growth even after 8 years of trading. This is clearly demonstrated from 2010 to 2011 sales performance with further growth of 22% in turnover. The Chelsea franchise renewed after 5 years and has continued with exceptional growth that has exceeded business plan expectations.
Michael has developed his successful London franchise despite being in an area with one of the toughest local market conditions. The Chelsea franchise has been trading since 2004 and during this time has become a well established business in the Chelsea, Kensington and Thames Riverside area.
When Michael purchased the franchise Martin & Co did not have a huge presence in the capital, the London Lettings brand now comprises of 19 offices. Michael has concentrated his efforts on dominating the Chelsea market place as well as building a second to none reputation in the riverside location.
Franchise owner Michael originally worked in the motor industry which has proved similar to the property industry. Michael found that business structures mirrored each other in many ways with the sales processes and after sales care being paramount in both – after all cars and property are both almost certainly the biggest decisions people will make in their life!
Michael saw many clients in the motor industry with large property portfolios and consequently looked into franchising in property. London provided huge earning potential and Martin & Co could provide the territory, the knowledge and the expertise to drive his rapid growth.
Chelsea is one of the most expensive areas to live in the world, and reputation within the area is vital. Michael spent a lot of time networking in his area helping him increase the business dramatically. London provides more of a support network as an agent; it is the only area where fees are shared.
Adding to all of this Michael’s success is also down to having lived in the area and the expert local knowledge he has been able to provide.
Northampton is a tough, competitive marketplace with over 40 agents competing for the lettings business. In fact, from the Martin & Co shop window alone you can see 15 other agents on busy Bridge Street! Some might decide that this was an ill-omen, but Franchise Owner Alex Lamb took the view that if there is a feeding frenzy of other agents, then there must be plenty of business for the taking!
Alex set ambitious business targets for his Northampton business but exceeded these in his first 12 months of trading by a good margin - letting close to 200 properties.
Alex Lamb has lived in Northampton for many years and has extensive knowledge of the area which he believes is fundamental to give expert advice on living and renting in the area. Succeeding in the lettings industry does not come without hard work, Alex prides himself and his team as reliable, trustworthy and efficient. With only three members of staff in the Northampton office currently, they are a close knit, determined team, managing a portfolio of properties which is moving steadily upward.
Martin & Co Folkestone franchise owner Dennis Roodhardt shares his experiences of his Martin & Co office's first year in business.
Dennis may have been a landlord and have a background in the property industry but what has he learnt over the past year? Our competitors' common weakness is poor customer service. We've spent the last year focusing on our customers, ensuring that we're not only efficient, but also personal and approachable. This has become a winning combination for us and several of our multi-landlords have commented that they would much rather work with us than our competitors and prospective tenants are telling us that they'd rather ‘Move In With Martin'.
What has Dennis enjoyed about running his own business? Being responsible for our own success and creating jobs in a tough market have been major drivers in the last year. Even the long hours have been rewarding - just knowing that every bit of effort we plough in today is an investment in our future.
How has working with his wife been? The key to our success is communication; we talk through every challenge and ensure that we reach agreement as soon as possible. We also have very complimentary skill sets; my business degree, big ideas, audacity and experience as a landlord compliments Rachel's attention to detail and experience in sales & marketing; being the adjoining piece in a jigsaw puzzle is what makes a great team.
What does the future holds for Dennis's business? The sky's the limit. Our goal is to be the No.1 Letting Agent in Folkestone in terms of lets by the end of 2010. We estimate that we're already 2nd in the local market based on lets agreed. Once we've achieved dominance in the Folkestone market we'll be looking to expand and acquire a second territory.
And what would Dennis say to others thinking about going down the franchise route? Go for it! Martin & Co offers the resources, training and branding to get your business off to a great start.
Gary Everett had worked in the banking industry for nearly 20 years and redundancy in 2003 gave him a great opportunity to review his future. He looked at various franchising options, realising that starting a business on your own could be a very isolating experience.
After several months of research and talking with other franchisees he chose Martin & Co. "My training programme was extensive and on the first days of his launch in 2003, the Operations Director from Martin & Co spent time with me in the business to meet my first customers and offer valuable techniques and advice aimed at maximising future profitability."
"There is superb ongoing support from the company, including coaching calls, regional business meetings and training refresher courses. Martin & Co has a strong brand name and I am well on the way to my goal of being the most professional letting agent in Colchester."
Gary acts as a mentor for new franchisees.
Opening a property franchise and teaming up in business was a dream come true for brothers Nick and Charlie Diggle who are franchisees at Martin & Co in Cambridge.
"We wanted to start a family business and that's how we view Martin & Co. "It's our local company but with the reassuring back up of a national name, brand and support network," said Nick.
They were both raised and educated in Cambridge and have strong local roots.
Nick, a Philosophy graduate was an Account Manager in London for a major public relations consultancy. Charlie, has a first class Honours Degree in Business and Management Studies and was a Project Manager for Credit Suisse in London. He said:
"Having been both landlords and tenants ourselves, we are confident that we understand the kind of service people will be looking for from us."
Neil was born there and recently completed a Master's Degree in Business Administration at Cardiff Business School. He is also qualified in mortgage and insurance advice with the Chartered Insurance Institute. Previously he was a senior manager with a leading government agency.
Neil and Lisa have renovated a large number of houses over the past decade, owning several buy to let properties. So they had a very clear idea of the kind of service landlords would be looking for; fast, professional, efficient, customer oriented and providing value for money and attention to detail. Their approach has given them a flying start with Martin & Co, now well established in the vibrant Newport lettings market.
Sandra Reeves is not the type to revel in the quiet life. Keen to show that age doesn't have to be a barrier to launching a new business , Sandra launched a Martin & Co franchise at the age of 64 in 2006. I worked in the printing industry before retiring and then found I was restless. I have still got a lot to offer, bundles of energy and I am always buzzing with ideas.
"I threw myself into the business from day one and I think I have made an excellent start. I've been interested in the property sector for some years and the franchise really taken off. I was delighted to have the opportunity to purchase a Martin & Co franchise. The company has built an excellent national reputation and I am very happy to be part of that."
Sandra renewed her Burgess Hill and Haywards Heath franchise later in 2011. Not bad for a 70 year old!
That's the motto of franchise owner Susan Hume who opened the Martin & Co franchise in Dundee earlier this year.
Susan had always wanted to run her own business and the franchising opportunity with Martin & Co gave her just that. However the flexibility the franchise business model offered here was top of her list. Susan's daughter is the British swimming champion for 100m and 200m freestyle and is training very hard for the 2012 Olympics. Running her own business, Susan can support her daughter with her early morning training sessions and accompany her on important competitions.
No stranger to property, Susan has worked extensively in lettings and has been a landlord herself, giving her a good understanding of landlord expectations. She insists that all her staff have the same high level of expertise and customer service levels.
"Selecting Martin & Co was the easy bit!" commented Susan (having been employed at Martin & Co Fife as a senior negotiator prior to becoming a franchise owner).
"I have seen Martin & Co grow as a brand and felt that buying into a proven franchise model would give me the additional specialist support I needed to run my own lettings business. Dundee has a large student population and significant regeneration has taken place. The lettings market and future in this area is certainly buoyant! she added."
Father and daughter team Bob and Claire Urwin opened their Martin & Co franchise in Oxford in October 2006. "Over the previous 10 years, I had built up my own property portfolio," says Bob, who used to run his own newspaper publishing business before merging it with a local broadcasting company and floating it on the Alternative Investment Market in 2003. "Claire had always been interested in the sector and used to help me manage the properties - so a lettings business seemed like the natural thing to do."
Using his local media contacts, Bob was able to ensure that the new venture was launched in a blaze of publicity, and it has enjoyed a high profile ever since, with success to match. "As part of the initial setting-up of the franchise, Martin & Co provided us with a very detailed 5 year business plan, and in the first year we exceeded our turnover target by a third.
The venture is a real family affair. While Bob focuses on business generation, including market appraisals, Claire (who has a BA in Business and Management from the University of Central England) is one of the three negotiators, while Bob's wife takes care of the administration.
