Is it time to sell your business? Reflecting on the tenant fee ban

Belvoir Agent and Estate agency owner shaking hands

Selling your property business

2019 is looking to be a turbulent year for the property industry, not only with the looming knock-on effect that Brexit will have – but closer to home, the introduction of the tenant fee ban.

With many reporting that around half of all agents are expected to lose between 10% and 30% of revenue due to the introduction of the ban via ARLA.

Reporting ongoing steady growth, at The Belvoir Group we are proud of our ability to weather much of the affects that the ban may have, with a projected 6% being lost from gross profit – down from a previous estimate of 8%.

As the UK’s largest property franchise provider on the high street, we believe there is strength in numbers as the market changes throughout the next 12-24 months and if you’ve been thinking about selling your business rather than take the hit and have to make cuts, then we might have the perfect solution for you.

“The Assisted Acquisitions programme, now in its sixth year, has gone from strength to strength and continues to grow. Since 2014 we have provided both commercial and financial support to 70 of our franchise owners, many of whom have doubled the size of their business overnight.”

Dorian Gonsalves, CEO of The Belvoir Group discussing the Belvoir Group, Assisted Acquisitions Programme

1st June 2019 has been set as the firm date when the ban will come into place, so now could be the perfect time to consider selling your business. Our process tends to take between 3-6 months on average and we make transactions ranging from £25,000-£1.5 million with a free, no obligation valuation of the business to kickstart the process.

On the other hand, you might be reading this as you consider taking your first steps as a new business owner and The Belvoir Group franchisee.

With the flux in the market that the tenant fee ban sets to create, we’re expected to increase our portfolio across a range of territories in the UK – so now could be the perfect time to get in touch with us about joining The Belvoir Group. Why not book a one-to-one Discovery Day today to discuss our opportunities?

Our proven track record and personal approach ensure that you receive a fair price for your business while maintaining the values and ethos that you have spent years of hard work building. Quite simply, with The Belvoir Franchise Group, you can be rest assured that your business will be in good hands – if we’ve piqued your interest then get in touch with one of our acquisition experts today who will guide you through the next steps.

If you liked this article, you might also enjoy reading: How millennials and generation rent are shaping the future housing market and How will Brexit affect the lettings industry?

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