Hunters has revealed its results for 2018 including a 5% rise in profits and a prediction that technology is the next ‘key’ battleground in the industry.
The 201-branch business also saw turnover increase by 1.4% to £30.4 million and average rise of 10% in ‘network income’ to £200,000 per branch. Network income is the additional revenues earned by franchisees via sales and lettings referrals from other franchises within Hunters.
The results also document the fast growth Hunters has been experiencing in recent years; 124 new branches have been added since 2014 and the company claims that the average Hunters branch has outperformed the market by 12% during each of the past four years.
Its Chief Executive Glynis Frew (pictured, above) also says she sees technology as the key industry battleground and agents employ tech to streamline compliance procedures and improve the customer journey.
The company earlier this week launched an Amazon Alexa-based home valuation tool and signed up to lettings management tool Teclet, and also recently hired Foxtons’ former tech boss Dan Rafferty.
Hunters also says it has been investing heavily in training over the past year, spending £500,000 alone on supporting its Propertymark endorsed Vocational Qualification.
Andy Bushell, franchise director, says: We are seeing an increasing number of agencies seeking access to the benefits of a franchising model, and our rigorous selection process allows us to identify businesses with strong fundamentals and growth potential in place.
“We are pleased that our investment and this practical approach are at the forefront of addressing the challenges faced by the industry.”