Franchisees continue to snap up the competition – and still look for acquisitions

Franchisees are continuing the trend to consolidate the industry in their local markets by buying up the competition in programmes supported by their head office franchisor.

In Southampton, Martin & Co has acquired more than 250 properties from Jonathan Rees Lettings – as well as four staff.

Franchisee Gavin Naish said he had been “keen to sink my teeth into an acquisition for some time”.

In Chelmsford, Martin & Co franchisee Stephen Frost has bought the 100-strong lettings portfolio of Owen Lyons, growing his business by 50%.

He has also acquired the agent’s premises plus four members of staff.

The team includes Owen Lyons owner Martin Orchard, who joins the Martin & Co team.

Frost, who was a regional operations director for Martin & Co before buying the Chelmsford business in 2008, said: “I have been looking for the right business to acquire for several years.”

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12 Comments

  1. Hillofwad71

    Well TPFG have said  they  are franchise  agnostic which might explain the migration of franchisees  at Ewemove within the group  The Ewemove Corby franchisee has recently  migrated to Martins and Sheffield  Ewemove franchise  to Whitegates

    Still too many franchisees crumbling at Ewemove. Too many franchisees carrying heavy losses in their  accounts with too few instructions to service

    A few over £50k and one franchisee whose latest  accounts show  a hefty £89,222 negative  balance in their accounts  with only  a handful of instructions to service

     

    Unsure  how  management addresses this but clearly allowing  the franchiseee to trade with this burden  does nobody any favours

    Poole franchise went last  month having been around for a number of years  Following Bolton North recently and a number of others incl Stevenage, Birmingham and Cardiff

     

    Its telling that they use the example of Gloucester  as part  of their  recruitment drive for new franchisees.She  transferred an existing business in January with a portfolio of managed properties

    On Zoopla today she has 0  sales instructions and 2 properties  to let yet…………

     
    The Best Decision We’ve Ever Made
    “We were an independent letting agency and we were struggling.
    “Then I came across EweMove by accident and I can honestly say it’s been incredible for us.
    “Our business is now growing rapidly. I have the support of an incredible team and both my landlords and my customers absolutely love all the benefits that being with EweMove provides.
    “Joining EweMove has been the best business decision we’ve ever made.”
    Nicky SmithEweMove Gloucester
     

     

     

     

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    1. krosotv

      I have the support of an incredible team and both my landlords and my customers 

      That is why she is struggling – only two landlords.

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      1. Hillofwad71

        This  was the post back in January  on EYE
        “Nikki Smith has rebranded to EweMove in Gloucester and is transferring her 70-property managed portfolio.
        EweMove managing director (aka Head Shepherd) Nick Neill said: “Here are five people who have the gumption to make a big business decision at a time when lots of others are fretting about Brexit and an uncertain property market.”
        “All five have decided that our ‘business in a box’, which includes property advertising on Rightmove and Zoopla, a 24-hour call centre, a top-performing website and eye-catching deliberately provocative branding for £1,000 per month, is the way to get a head start over the competition.”
         

        Her big business decision has not translated into instructions  yet her testimomonial states otherwise

        Many franchisees have been suckereed   in here some experiencing life changing losses on tthe strengths of a few success at Beverley  Basingstoke etc

         

        The number of failures unacceptably high and some trading on fresh air

         

         

         

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    2. Head_Shepherd#2

      John – as I have told you before.  If an agent transfers their portfolio from an independent business to EweMove, those properties will not show on Rightmove as they do not need to be readvertised, as they come with sitting tenants who are very happy to stay where they are.  So your sideline assessment, trying to use Rightmove data to reverse engineer some kind of business performance, is fundamentally flawed and perhaps reveals your lack of understanding about how portfolio transfers work.

      I have also told you that Corby did not migrate to Martin & Co.  He built his EweMove business to a position of great strength, acquired Martin & Co and then rebranded to Whitegates, for perfectly sensible reasons which I am not going to repeat here, as I have already explained these to you. But you post the same incorrect information again for some reason.

      The fact remains that EweMove continues to grow, franchisees perform well, some take on debt to acquire portfolios with the support of TPFG, yet you seem rather oddly obsessed with EweMove which I can’t seem to fathom and your posts are becoming increasingly misleading and incorrect.

      Back to school for you, I think, but as I have offered before, call me and raise any questions you might have so you can check your facts before you post.  You have my contact details already so please do feel free to use them.

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      1. proper21

        “Sitting tenants”

        really?

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    3. Ewenice

      Not sure where you are getting your information from but Ewemove Corby is Whitegates Corby now and Martin and Co Stamford is now Whitegates Stamford, Paul will be happy to take your call if you need further clarification.

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  2. Mark Walker 2

    The one in our town was acquired / passed over (?) to another M&C franchise owner.  The office in our town is now advertised to let.  So the presumption is that they acquired it for next to nothing and will try to service the existing portfolio from far away.

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  3. Hillofwad71

    Nick You come across very well and no doubt doing a good job However you have inherited some legacy issues with a number of franchisees   who have been  unsuited to your model  many of which have been left to wither on the vine as evidenced by the number of failures with devestating losses .
     
      You choose not to address this which is  understandable .Its not just an isolated case but a steady stream
      Gloucester
      Clearly managed properties which are let will not be shown on Rightmove or Zoopla as they are not available That is not in dispute .
    The fact remains that since the move she currently  has only 2 properties to let   and zero for sale  With 70 properties one would expect to have at any one time at least a couple come up for letting.She has achieved no traction
     
    Well  in respect of Corby the  Ewemove Corby (Paul Warwick) accounts tells a different  tale unless Companies   House have got their facts wrong?
      How many Ewemove  franchise closures have there been  this year and how many franchisees   are  currently carrying losses of over £20,000  ?    

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  4. Hillofwad71

    Nick Yes  have to say  I have  spent some time trying to fathom the Ewemove story .
    Initially I was looking for an excuse to invest in TPFG  and spent some time looking at the individual franchises.,their instructions and more importantly at Companies House
     
    Unusual in the fact that each of the original  franchisees  have  their wn corporate  vehicle so lays  itself open to scrutiny .
     
    Your site is certainly very  vibrant and  inviting .The overall impression being given with the “cuting edge “technology and a hand hold from HQ  riches await  .
    Unfortunately from my research for many that has been far from the case.Looking through some of their CVs some of them never stood a chance from Day 1
    No experience of running a business and hauling  up at the local bank to borrow the franchise   fee for their sheepy dream .  Lambs to the slaughter
     
    What did stick in my craw is that the founders took the money and run at he first opportunity whilst  many franchises  sold the sheepy dream  ended up being  fleeced
    Call me old  fashioned but I find that  unacceptable. No amount of bleating on about some of the successful franchises  has   helped their plight   If you think letting a franchise continue with over £89k of debt incurred is good for the business  -think again   Looking afresh today there are  quite a few  looking very vunerable

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  5. thewinnertakesitall

    Perhaps to add some balance to the constant EweMove bashing let’s look at a recent survey of the growing self employed whereby only 1 in 5 start up businesses int he UK survive past their first year and of that 1 in 5 a further 1 in 5 of those survive beyond 10 years. Until recently most EweMove franchises took a leap into this market and why are we surprised that not everyone survives, do they in any market? EweMove like any franchise provide a model to support and improve the odds of not being one of the 4 in 5 businesses that fail and I’d say they are achieving that and stack the odds greater in your favour than going it alone. Unfortunately you can take a horse to water but you can’t make it drink. It would be interesting how many of those who knock them have actually launched their agency or any business for that from cold and know what it takes to take a profitable share of a market… perhaps a bit of inspirational discussion might help those franchises not quite where they want to be yet

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    1. Hillofwad71

      What you fail to acknowledge is that estate agency is a profession where education ,.training and experience are paramount .This is required   before  a leap into the unknown

      Some of the franchisees who Ewemove have taken on havent run a business of any nature  at all let alone any estate agency experience

      Some never stood a chance and what about  duty of care to the public?

      Sure  of cousre there are risks and failures   to be expected but not the amount which have occurred and still occurring at Ewemove is unacceptable

       

      EwemoveFranchisees have been enticed into the fold that with just a little hard work ,pererverance and  help  from head office handing over  a franchise  fee riches await ,That message is wrong

       

      For many that hasnt been the case , far from it.

       

      More importanly looking at their  accounts and many who are  currently trading with a number carrying  over £50k persoanl debt some over £80k which is unsutainable  you have to beg the question why isnt the shepherd looking after its flock

      Its clear that for the health of the overall flock some should have been  sent  to the abbatoir sometime ago and not continued increasing their debts .There are at least 3 franchisees currently trading  which this applies to

      Disgrace

       

      t

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  6. thewinnertakesitall

    I guess we have differing opinions on that one as I’d say the day you set up a limited company with you and you alone as the director and owner you’re accepting you’re starting a business not a job! Just as you should choose when to get out if it’s not for you. I don’t see the bookmakers reluctant to take your money time and time again after a loss. Adults making adult decisions

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