Here, our Franchise Director Chris Gillam and Founder Manjit Virdi explain more about the importance of a proven business model. Below we’ll address those two questions in more detail.
The lettings market is thriving right now and predictions suggest that this will continue:
- By 2032, it is predicted that half of all homes in England will be rented. Within two decades it is also anticipated that one third of all rental properties will be privately rented, a significant increase on the current levels of 18%.
- 60% of landlords aim to expand their investment portfolio within the next six months, a further indication of the potential business available to franchisees in the lettings agency sector.
Does Redstones offer a proven business model?
Before launching the Redstones franchise network, getting the business model right was our highest priority. A franchise model which has not been piloted and thoroughly tested can result in a failed network or franchisees struggling to establish their businesses.
On setting up Redstones, Manjit worked initially from home before moving into serviced offices. When establishing the Redstones franchise model, our priority was to offer a low cost entry to market without the onerous overheads that so often place unnecessary financial pressure on a new business.
With Redstones, we have achieved that goal.
We understand the lettings agency model and we know what works, which is why we encourage our franchisees to initially operate their lettings agency from serviced offices, rather than expensive high street premises. It’s a more intelligent, proven business model that takes into account the nature of the lettings sector and the influence of social media and online marketing.
On top of that, as a Redstones franchisee you enjoy the benefits of:
- A reputation for outstanding customer service and integrity in a competitive market place.
- Innovative solutions to your clients’ biggest problems, including our Switch Agents programme and Total Platinum Care service.
- State-of-the-art marketing, taking advantage of all that social media and internet marketing has to offer.
- Larger than average territories, allowing you to create a successful business with no limits to what you can achieve.
- Lower start-up costs, including a lower franchise fee, aligned with a franchise model which allows you to launch your business from serviced offices.
Once established, you can of course extend your business into the residential sales sector and relocate your Redstones franchise to a high street premises – but only if it’s in line with your business plan. We also offer the option to launch your Redstones business from a high street location to franchisees with prior experience in estate agency and residential sales.
Let’s return to the original questions and relate them to Redstones’ franchise opportunity.
Why the lettings agency market? In summary it’s a buoyant sector and will continue to enjoy significant growth for the foreseeable future.
Is this business model proven? Yes, Redstones, is proven, tried and tested, with a unique offering that sets us apart from other lettings agency franchises in a competitive market.
If you have any more questions, we’re happy to answer them. Contact us today to find out more about what makes Redstones stand out from the crowd.
The difference is Redstones.