Ewemove is to restart recruiting franchisees who don’t have industry experience after ‘examining the evidence’, it has been revealed in the latest upbeat trading results from parent group TPFG.
“Experienced estate agents initially outperform inexperienced franchise recruits from other sectors, but only in the first two years trading as a EweMove franchisee,” says Chief Executive Ian Wilson.
“Consequently, we have resumed recruiting non-agents as franchisees at EweMove provided that we are satisfied they have transferable sales skills and access to sufficient working capital during the build-up period.”
The number of Ewemove franchise territories has come to a standstill this year at 115.
But existing franchisees are outperforming both TPFG’s other brands and the wider market, listing 3,173 properties during the first six months of the year during a falling market, up from 3,062 during the same period last year. It also sold 16% more homes via a higher conversion rate.
This contrasts with the wider TPFG brand network which includes Martin & Co, where growth has come almost exclusively from lettings.
“As well as also increasing its lettings revenue our hybrid brand EweMove demonstrated that its unique, highly customer centric offering can defy the challenging sales market, as its sales revenue increased,” says Wilson (left).
“EweMove has improved its cash generation year on year, and tight cost control has delivered a corresponding improvement in profitability. We are on track to materially improve on the 2018 result for the full year.”