Reputable Estate Agency Franchise in Wigan for Sale

Wigan, Greater Manchester
REF: INT2139

Asking Price:
£45,000
Annual Turnover:
£33,192
Annual Net Profit:
£24,481
REF: INT2139
Photo of Reputable Estate Agency Franchise in Wigan for Sale
Photo of Reputable Estate Agency Franchise in Wigan for Sale
Photo of Reputable Estate Agency Franchise in Wigan for Sale
Photo of Reputable Estate Agency Franchise in Wigan for Sale

Overview

Tenure:
Relocatable
Established:
2018
  • Excellent Reputation
  • Huge Growth Potential
  • Low Overheads

Starting any business from scratch and creating an immediate income is very difficult. Starting an Estate Agency is certainly no different as it is imperative to build a reputation to ensure trust.

This business has a 5 Star Rating from Google with many reviews, all giving 5 Stars with brilliant comments.

Being the top-rated estate agency in Wigan, this agency holds an extremely good reputation - boasting a large number of 5-star review across Google. This brings a steady flow of serious enquiries and, as the business is run with customer satisfaction at the top of its list of priorities, there are also referrals from existing customers that add to that flow.

The business has a fantastic network - boasting national coverage, local expertise, a huge online marketing network (including Rightmove, Prime Location, and Zoopla), and telephone lines that are open 24/7. They describe themselves as having ‘a unique pro-active sales approach’ as they are ‘a true hybrid estate agency.’

They strive to combine the best of traditional high street estate agencies, with revolutionary online marketing to deliver the best possible sale service whereby properties will receive maximum exposure.

A new owner would benefit from a high level of support made available by the franchisor. There is a franchise fee payable at a flat rate of £360 per month, but the vendor has negotiated 12 months free for a potential purchaser. As standard, 15% of fees would also be payable, however, the vendor has also helpfully arranged to have these waived for the first year also. Therefore, the only initial payments to the franchisor required by a new owner would be £48 per month for the phone answering service.Starting any business from scratch and creating an immediate income is very difficult. Starting an Estate Agency is certainly no different as it is imperative to build a reputation to ensure trust. People selling their homes rely on proven successful companies to market their property in a professional and attractive way and to also treat potential buyers with courtesy, consideration and respect.

This business has a 5 Star Rating from Google. All the reviews give 5 Stars with brilliant comments. Many fo these comments relate to the points made in the previous paragraph.

Being the Google top-rated Estate Agency in Wigan, this business has an extremely good reputation which of course brings a steady flow of serious enquiries. Further more the business is run with customer satisfaction at the top of it's list of priorities. This policy produces further business that comes from existing clients giving personal recommendations to their family and friends.

The business is an arm of a national franchise that has a fantastic network - boasting national coverage, local expertise plus a huge online marketing network. Every property is placed on the major platforms including Rightmove, Zoopla, Boomin and Prime Location. The telephone lines are open 24/7 and it is amazing the number of enquiries that are received outside normal office hours, even some after midnight from people working on night shifts.

High Profits & Low Overheads

The good flow of business and very low overheads means this business boasts that last years accounts up to March 2022, show profits equal to 74% of turnover. That is extraordinary in a small business. Even with these fantastic accounts there is still scope for growth. At the moment the company is not involved in lettings. Any new owner can either choose to continue to concentrate on sales only or to alao venture into lettings. This has great potential and the company’s 5 Star Rating will enable it to flourish. .

A new owner would benefit from a high level of support made available by the franchisor. There is a franchise fee payable at a flat rate of £360 per month, but the vendor has negotiated 12 months free for a potential purchaser. As standard, 15% of fees would also be payable, however, the vendor has also helpfully arranged to have these waived for the first year also. Therefore, the only initial payments to the franchisor required by a new owner would be £48 per month for the 24/7 answering service.

This is a fully relocatable opportunity providing flexibility to any prospective buyer. Although the business used to be run from an office, it now runs perfectly well from home.

Currently, the business is operating as a Sole trader. However, there is scope to bring in support staff if the business warrants it.

The vendor signed a 5-year contract with the franchisor in April 2018. Franchisees are free to leave at any time, and there's no contract renewal fee.

A new purchaser would need to be approved by the franchisor, but otherwise, there are no specific background or qualifications required. The vendor believes this would suit an individual with industry expertise - perhaps a retired professional looking for a part-time opportunity.

The business chooses currently to sell residential properties only. However, there is also the potential to expand into lettings, and also into commercial property.

Being a predominantly lifestyle business; there's scope to grow organically by being more proactive in seeking out new business.

Features

Key Information

  • Franchise Fee (Monthly): 400
  • Franchise Agreement Expiry: January, 2025

Reputation

  • Google: 4.9

Online Presence

  • Facebook: Yes

Website: www.openhousewigan.com

Location

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  • Home Based

Financial & More

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