Letting agency franchise giant Martin & Co enjoyed a ‘robust’ 2016 and has put the business model and technology of recently-acquired Ewemove.com at the heart of its operations, its latest trading update reveals.
Martin & Co increased its revenue by 15% last year to £8.2 million during 2016 and added 90 branches to its network as well as increasing the number of tenanted properties it manages by 3,000 to 48,000.
Looking to the future, CEO Ian Wilson (pictured) also says that the fees ban is unlikely to be “significantly impacting our business”.
The group says its robust performance has taken place despite the challenging market conditions following the Brexit vote, a result it has managed by growing fees and lowering costs and also the inclusion of a modest contribution from hybrid agency Ewemove.com, which is acquired in September 2016 and that now has 96 franchisees.
The trading update also says that the Group is also importing some of the intellectual capital of EweMove into its five traditional high street brands, and that it will be launching new websites with a facility for customers to book valuation appointments in real time.
“The acquisition of EweMove marked an important milestone for the Group and means we now have a national estate agency “challenger” brand,” says Wilson. “It’s deliberately designed to be “non-traditional” and has its own distinctive culture built around exemplary customer service.”
Martin & Co’s five high street brands are CJ Hole, Ellis & Co, Martin & Co, Parkers, Whitegates and now Ewemove too.