Winkworth is back on the franchise network expansion path after a two-year hiatus, the company has revealed with at least six opening this year.
This includes one already open for business, two to start up over the next fortnight and a further three to open later in the year including several in South West London.
These openings include an existing franchisee from Sway in Hampshire who is preparing to set up shop in Milford-on-Sea, while an existing 22-year-old business in Kingsbury, North London is converting to Winkworth, and due to open next week as well.
Also, the company says it youngest franchisee – at 27-year-old – is about to open up shop in Cheltenham after spending several years working at its Dulwich, South London branch. He is Tom Mayfield (pictured, left), who before joining Winkworth worked for Carter Jonas.
“We have been concentrating on portfolio management as franchisees retire, and we’ve been dealing with that by selling both within the network, but also outside it,” says business affairs manager Gina Piper.
“But now we’ve also hired a new franchise manager, James Campbell (pictured, right), who has a strong lettings background.”
Gina says Winkworth has seen increasing share of its revenues coming from lettings – up from 30% a couple of years ago to 48% at the moment.
“Letting has become more and more important, particularly when the sales market is a bit slow, as it is now,” says Gina.
She also says Winkworth is not worried by the looming letting fees ban after crunching the numbers on where its rental sector revenue comes from.
“The extra letting fees that many of our competitors rely on heavily are not part of many of our franchisees businesses, unlike many of our competitors, so I don’t think it will have an overall impact on us,” she says.