Open House franchisees offered funded acquisitions
More than 100 Open House franchisees will gain access to the acquisitions programme with Sourced, creating new opportunities for portfolio growth.
Open House Estate Agents’ 104 franchisees are set to gain access to a fully funded acquisitions programme following the acquisition by Sourced.
The programme is designed to help franchisees acquire established lettings agencies and managed property portfolios, providing a route for businesses to accelerate growth through acquisitions.
The deal brings Open House into the wider Sourced Group, adding its estate agency and auctions operation to a business that already spans property investment, finance, lettings and property management.
Open House will continue to operate under its existing brand, with the two businesses now looking to combine their respective strengths while retaining the local focus of their franchise models.
The wider Sourced network now comprises more than 230 franchisees following the aquisition. Both businesses have developed around a similar model, giving local business owners the autonomy to build their operations while providing access to national infrastructure, technology, systems, support and wider opportunities.
Aligned thinking
Stephen Moss, founder of Sourced (main image), said: “What stood out to us about Open House was how closely the business aligned with our own. We didn’t have to convince them to think like us because, in many ways, they already did.
“Both networks are built around ambitious local business owners, backed by the systems, technology and opportunities of a national organisation. Bringing those networks together creates huge potential for everyone involved.
We didn’t have to convince them to think like us because, in many ways, they already did.”
“Open House brings established estate agency and auctions expertise into the Group, while we can open up our wider property network, technology and acquisitions programme to another 104 franchisees. We’re not looking to change what makes Open House successful. We want to build on it.”
For Sourced, the acquisition expands its presence across the property lifecycle, linking its existing investment, finance, lettings and property management operations with estate agency and auctions.
The deal also brings together two Warrington-headquartered businesses that have independently developed nationwide property networks from the North West.
