Franchise Growth by Acquisition – Purchasing a Lettings Business

Part of Belvoir Group’s hidden strength is its Acquisitions team. This team is laser-focused on helping franchisees to grow. Acquisitions are an extremely effective means of helping businesses to grow (the costs of taking on an additional amount of turnover & profit can be agreed upon in advance & can provide an immediate benefit). The acquisitions team receive large numbers of enquiries from estate & letting agents who are looking to sell their business because they are seen as credible buyers. This means that Belvoir’s franchisees can be the beneficiaries of a number of attractive opportunities to quickly grow their business.

A significant number of Belvoir Group’s franchisees look to grow their business through acquisition. One example is Tom Cartwright from Belvoir Exmouth.

Just a year after becoming a franchisee, Tom has doubled the size of his business. This is in large part due to a number of acquisitions. The most recent being the purchase of Stocks Property Management. “I can’t believe how much we have achieved in just one year,” said Tom. “There are now four of us in the business.”, he said after starting his journey alone.

Tom’s franchise business was a ‘hot start’ beginning with 59 properties under management after the team helped him to purchase @home lettings in Exmouth in October 2022 & rebrand it as a Belvoir business. He now stands at almost 200 rental units in his lettings management portfolio.

“I would like to offer huge congratulations to Tom Cartwright, on his acquisition of Stocks Property Management, which has doubled the size of his business,” said Belvoir CEO Dorian Gonsalves.

Within months, Tom completed the acquisition of a second, small local lettings agency, which added to his lettings portfolio and provided him with a foothold into the sales market,” Gonsalves added. “Tom’s achievements were recognised in March 2023 when he won the Belvoir Newcomer of the Year Award at Belvoir’s Annual Awards.”

Tom’s acquisition is just one of many by the group’s franchisees in 2023. As franchisees continue to open new offices & acquire other businesses we will detail them here.

If you would like to become a Belvoir franchisee or would like to join our Acquisitions programme, please let us know & we will be happy to understand your needs & begin to look for opportunities that will suit you. In addition, if you would be interested in selling your estate agency or lettings business and would like to understand how much it is worth & how many ready buyers we have, please enquire about selling your business: you’ll be under no obligation but will be in a better position to understand the value of your business and your options.

If you enjoyed reading this article, you might also like: Belvoir Group Launches Leadership Programme for Franchisees and What is the Stage of the Lettings Industry if I’m Looking to Become a Letting Agent?

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