Martin & Co head office has embarked on a new strategy of buying back its successful franchises.

 

“It’s the strongest possible signal we could be sending that we believe in the power of our own brand and in the long term prospects for the UK lettings market by investing our own money in lettings businesses" said Ian Wilson the Managing Director. 

 

Wilson added "By guaranteeing our franchise owners a fair price for their business at the time when they want to sell it de-stresses the whole sale process for them in these uncertain economic times”.

 

Historically the multiple award winning Martin & Co brand has operated a strictly high street shop franchise model. In the summer of 2011 it departed from this strategy by offering On-line franchises and so far it has recruited fourteen. This latest strategic direction shift means the Franchisor has now put in the place a policy of trading as a letting agent in its own right.

 

As Wilson quipped “Well run lettings businesses lack a “reverse gear”. We are very much looking forward to controlling our own offices directly and deploying all of the head office expertise and best practice “know how” at our fingertips to increase their revenue and profitability.”

 

Worthing became an obvious choice. It is reasonably close to Martin & Co’s head office in Bournemouth and the timing was right for the franchise owners. “It can be a stressful period for franchise owners if they are ready to sell but do not have a buyer waiting in the wings. We could offer a fair price, and because we were funding the deal from cash reserves we could work to the seller’s timescales, without worrying about whether the bank would approve funding” said Scott Burgess, Franchise Director at Martin & Co.

 

“Ultimately we want to be the biggest business owner in the group as well as being the franchisor. Lots of large corporate chains are trying to acquire lettings businesses to consolidate their market position but they have to continuously search for acquisition targets and then complete extensive due diligence because they don't know the provenance of the business concerned. We already have 180 businesses of known provenance and 27,000 managed properties on our books so are confident that our acquisition program can be scaled up as quickly as funds allow" said Wilson.

 

"We want to complete on at least another four purchases in 2012” added Burgess. 

 

Martin & Co are excited to be welcoming two new recruits to make a well equipped team of four at Worthing.

 

James Carrier joins as Business Development Manager. James brings 8 years exceptional experience with an extensive background in the property sales and lettings market.

 

In addition, Becky Spicer will be joining as Property Manager. She brings 8 years property management experience to the team. Becky is ARLA qualified and completely dedicated to lettings. Becky has lived in the Worthing area her entire life, providing her with second to none local knowledge and excellent customer service and property management skills.

 

The Worthing office is headed up by Caroline O’Dwyer, Lettings/Office Manager. Caroline started in the business as an administrator working her way up over 3 years. Caroline has gained a wealth of experience in the property industry and local knowledge of the Worthing area. Caroline oversees the general day to day running of the office.

 

Jodie Thomas is the Lettings Negotiator. Jodie’s previously has had experience in the sales and letting market gaining 7 years extensive knowledge in the property industry.

 

The Worthing team looks forward to working alongside Martin & Co UK and looks set to provide an unrivalled lettings and property management service to landlords and tenants in the Worthing area.

 

It’s been a good year for Martin & Co having triumphed at “The Negotiator Awards” by winning Franchise of the Year for the second time. Martin & Co won gold for “Best Large Letting Chain” at the ESTAS awards 2009, winning the silver award in 2010 and 2011.

In a highly competitive market and with the challenges of the economic climate just keeping a business afloat can be a tall order, but with over 16 years franchising experience and 25 years in the lettings market Martin & Co is on the right road to continue to build on its reputation and win further market share.