Martin & Co parent company The Property Franchise Group (TPFG) has told The Negotiator that it is preparing to make a major push into sales this year as its new CEO prepares the business for expansion.
With the exception of Ewe Move, all of TPFG’s estate agency brands generate three quarters of their profits from lettings which, CEO Gareth Samples say, has helped it survive Covid better than many of his competitors. These are Martin & Co, Ellis & Co, Parkers, Whitegates and CJ Hole.
Samples, whose group announced its half-year results yesterday, says there is a ‘huge opportunity’ for its traditional high street brands in the sales market, and he believes TPFG overall can become a major sales player within 18 months.
“We’re investing in people to help achieve this and we’ve established a residential sales improvement plan,” he says.
TPFG is also hoping an expanding sales business will grow its financial services arm, which it established after buying a 72% stake in Chichester firm Auxilium Partnership Limited, whose boss Mark Graves is now its financial services director.
“Better performance in sales will drive more referrals to our financial services business, but we’re also planning to acquire more companies in this sector as well as grow organically – and we’re expecting to have a team of 100 brokers by the end of next year,” says Samples.
TPFG is also sitting on a considerable cash pile of £6.1 million and Samples says he wants to use this to both help franchises buy more letting portfolios, but also buy any franchised agency businesses that are in a position to be purchased.
“Another major prong in our plans for expansion is Ewemove, and I’ve given MD Nick Neill an ambitious target to increase the number of territories from 110 to 200,” says Samples.