It has been a busy opening to 2021 for three franchisees from hybrid agency EweMove.
A trio of business owners have incorporated existing franchised operations within The Property Franchise Group PLC (TPFG) into their local EweMove business.
EweMove Stamford & Spalding bought Whitegates Stamford and acquired their lettings portfolio of more than 130 properties.
EweMove Dorking has acquired Martin & Co in Leatherhead, which includes a lettings portfolio of more than 140 properties.
In Salisbury, Ewemove franchisees who already run an office in the town and nearby Winchester bought their local Martin & Co complete with a lettings book of 148 properties.
Nick Neill, EweMove’s head Shepherd, said: “The confidence the franchisees have shown in investing in well-established sister brand businesses is evidence of how strongly we have performed as a group both in and out of lockdown.
“The EweMove model is agile and has now proven to be pandemic proof too.
“We’re optimistic about the future at all levels of our business, and I know that the three franchisees involved in these acquisitions are all very positive about their future with the ongoing support of The Property Franchise Group and EweMove behind them.”
The counter story is that Martin & co franchisees are getting out – the MAC franchisees are likely to be more seasoned than the ewemove ones who will be fresher, keener, more willing to risk their personal capital, more likely to be persuaded by their franchisor into buying portfolios. For the head shep, of course, he wants to fluff it up for a bit of positive PR but for TPFG apart from taking a fee from both parties, there’s nothing in this for them.
This does show though that its harder to sell a ‘used’ franchise than buy a new one.
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Good luck to all the franchisees and woollen hats off to all those Ewemove franchisees who are performing well no doubt some e inspiring individuals amongst them.
“The EweMove model is agile and has now proven to be pandemic proof too.”
“I often wonder why the whole world is so prone to generalise. Generalisations are seldom if ever true and are usually utterly inaccurate.”
― Agatha Christie, Murder at the Vicarage
Certainly you would expect some colloboration amongst the franchised brands under the TPFG umbrella for the greater good and to max out opportunities Also an opportunity to limit damage if necessary.
Also gives franchisees an exit strategy which of course is good news
However the traffic does seem to be one way -ie Ewemove franchisees buying/moving into Martins & Whitegates and not the other way round
In Doncaster where there were 2 Ewemove franchisees , one shut down permanantly with horrendous debts and the other “expanded” by acquiring the local Martins branch .
However she closed down the Ewemove branch leaving Doncaster without any Ewemove branches at all -a sheep free zone
The very best of luck to the franchisees taking advantage of the situation
In 2018 a longstanding Bob Brown Ewemove Sheffield franchisee since 2013 Ewemove announced excitedly that he had acquired the 350 property portfolio of Castle Estates
“Almost five years later, we’re proud to be amongst the top performing EweMove branches, and thanks to our team’s ongoing hard work, we’re positioned for a period of sustainable growth with the addition of 350 properties to our existing sales and lettings portfolio.”
However after a few months quickly decided to flip his whole operation which included a number of offices into Whitegates
That really is not a vote for the Ewemove model to lose one of their top performers
However it’s also stretching the fleece to say the model is “pandemic proof “too as there have been a number of franchisees quietly disappeared during 2020 ,the lost sheep ,the forgotten collateral damage in the Little Bo Peep story.
Recent departees include Newbury ,Bracknell ,Gloucester Harrogate,
Too many franchisees struggling increasing debts year on year
This month,January 2021 an existing franchisee has just changed their company name. in readiness for something? Just 1 sales instructions & 3 currently to let . I wonder where Gabriel Oak has been for him to make him “pandemic proof “?
The accounts make salutary reading a progressive decline from the get go deficit mounting year by year .
2019 (£70,904)
2018 (£61,270)
2017 (£54,955)
2016 (£34,892)
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The record is still stuck then? I’d have thought during lockdown you might give the needle a nudge and get a life
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Well unfortunately when the HS comes up with the model is”pandemic proof”what do you expect .
That probably doesn’ t sit well with some of the franchisees who are and have suffered crippling debts
Behold, I am sending you out as sheep in the midst of wolves, so be wise as serpents and innocent as doves. – Matthew 10:16
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I think some people just want to be negative and hate seeing people doing well.
I have recently joined Ewemove with over 20 years experience and I have never felt so supported and part of a company with the right culture towards its owners, associates and more importantly the customer!
Personally I feel proud to be involved with such a great company
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A great post HappyAgent76 and reflective of the sentiments of our network – something I hear day in and day out. I love the people in our network who are a bunch of awesome agents, punching well above their weight.
Unfortunately, HillOfWad seems to have an odd and rather unhealthy fixation with rubbishing everything that EweMove does and all the success we have achieved. Not sure why, but I’ve given up trying to be reasonable with the fellow, which is a shame, as if he only took the time to engage with me and research his ‘assumptions’ before broadcasting them on here, he would perhaps gain just a little bit of the respect he so desperately craves from PIE readers.
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“I think some people just want to be negative and hate seeing people doing well.”
Good for You Happy and hope that it will be a huge success for you and indeed all those who are expanding their portfolios
However spare a thought for the 50 + franchisees who quietly shuffle off the scene bearing all the burdens and debts .Never a mention for these. no gold watch .,collateral damage in the success story
Did you speak with any of these ?
No talk about helping those out and supporting them
Also spare a thought for those franchisees who have 6 figure deficits and those with insufficent inventory to pay their annual creditors let alone long term creditors
The HS always springs up like some excited puppy with any potential bit of good news but always very quiet about the
Defaid coll as they say here in Wales
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A great post HappyAgent76 and reflective of the sentiments of our network – something I hear day in and day out. I love the people in our network who are a bunch of awesome agents, punching well above their weight.
Unfortunately, HillOfWad seems to have an odd and rather unhealthy fixation with rubbishing everything that EweMove does and all the success we have achieved. Not sure why, but I’ve given up trying to be reasonable with the fellow, which is a shame, as if he only took the time to engage with me and research his ‘assumptions’ before broadcasting them on here, he would perhaps gain just a little bit of the respect he so desperately craves from PIE readers.
I’m glad to have you with us HA76!
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Head Shep – I suspect if you didn’t keep putting out fluff PR releases, HoW wouldn’t find the need to provide a counter argument, just saying
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