IN BRIEF
Description:
Redstones™ offer you the opportunity to start your own letting and property management agency with their flexible franchise model.
Opportunities:
Single franchises available across the UK and Ireland. Master franchises available in Ireland.
Business Type:
Franchise.
Minimum Investment:
£11,995.
Financing Assistance:
Yes, through a third party.
Training Provided:
Yes.
Home-based:
Yes.
Part-time:
Yes.
BFA Provisional Member: Yes.
FRANCHISE ASSOCIATIONS
The revenue you could expect
The profits you could make as a Redstones™ business partner will depend on several factors, including your local lettings market and the number of competitors active in your area.
However the figures below illustrate the average return you could expect from various activities over your first five years:
| Year One | Year Two | Year Three | Year Four | Year Five | |
| New contracts per month | 5 | 10 | 15 | 20 | 25 |
| New contracts in the year | 60 | 120 | 180 | 240 | 300 |
| Total Stock* | 60 | 159 | 283 | 433 | 612 |
| Income from new contracts | £44,490 | £93,429 | £147,151 | £206,011 | £257,514 |
| Income from renewed contracts | £0 | £4,927 | £10,842 | £18,407 | £25,839 |
| Income from checkouts | £0 | £1,985 | £5,522 | £9,395 | £12,561 |
| Income from rent collection management (net) | £21,499 | £55,638 | £109,462 | £173,702 | £244,038 |
| Income from other full management fees (net) | £7,989 | £34,460 | £76,256 | £132,980 | £197,308 |
| Total revenue | £73,978 | £189,809 | £349,233 | £540,495 | £737,260 |
* Allowing for properties leaving your books
The figures above are only indicative and are based on an average rental price of £650pcm and a standard tenancy renewal fee of £100, which may be low in some areas. These numbers are based on our current experience and your returns could be higher or lower depending on the efforts you put in and the circumstances in your territory.
In addition you would receive:
- £30 for each energy performance certificate you commission
- £30 for each annual gas certificate you arrange
- and around 20% commission on each maintenance job.
So what does a Redstones™ Franchise cost?
The total cost is circa £25k which includes a franchise fee of £11995.
We can also provide a turnkey package including all the equipment, software and training you need. The price of the package will depend on what you require and the type of premises you opt to run your business from:
Estimated Turnkey package prices
| Home office | £14,000 |
| Serviced Offices | £16,000 |
| High Street premises | £19,000 |
We can help you to secure financial assistance towards the initial costs associated with setting up and running your Redstones™ franchise.
GREAT! WHAT'S MY NEXT STEP?
If that sounds like you, don’t miss out on this opportunity to be part of a UK success story. Complete the form below to get in touch with Redstones™ today.
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