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Northwood Franchise

Initially established by Andy Goodson, Northwood was then known as Residential Lettings. The company began franchising in 1999, with its first franchise in Milton Keynes.

Northwood Franchise

Company History

Initially established by Andy Goodson, Northwood was then known as Residential Lettings. The business was founded in 1995 in Portsmouth. As a property developer, Andy was experienced in building new retirement and residential homes as well as land acquisition and sales.

The company began franchising in 1999, with its first franchise in Milton Keynes. Then, the business was renamed to Northwood in 2002 and shortly after in 2005 rebranded again. This ensured the company name and brand was idyllic for further development of the business. After the rebrand, Northwood specialised in commercial lettings as well as being an estate agent.

Then, the business grew exponentially, currently having 87 offices across the country. Andy Goodson sold his shares of the company in 2016. At this time, Northwood was bought by Belvoir plc which is the biggest franchise group in the UK that specialises in property, managing over 56,000 properties.

As a founding member of SAFEagent, the company advocates the use of client money protection schemes. On top of this the business is an esteemed member of the British Franchise Association (BFA).

Investment Cost

The initial franchise fee you would be required to pay is £25,000. Following this there is an initial investment of £45,000 – £50,000. The total investment into this letting agent franchise is £135,000 – £150,000.

Why Northwood?

This company has a 25-year history of helping over 100 franchises succeed in the sector of residential sales and lettings agencies. The business offices provide full scale services in this sector including mortgages and conveyancing. Northwood’s guaranteed rent model is market leading and an unrivalled selling point.

Initial Training Period

When you decide to invest in your very own Northwood franchise, you will part take in a 5-week comprehensive training program which ensures you have all the required fundamental knowledge and residential training

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FACT FIND

Franchise Fee : £25,000

Minimum investment : £45,000 – £50,000

Total investment.: £135,000 – £150,000

Inital Training:   5 weeks

Year Established:  1995

Why Northwood?

This company has a 25-year history of helping over 100 franchises succeed in the sector of residential sales and lettings agencies. The business offices provide full scale services in this sector including mortgages and conveyancing. Northwood’s guaranteed rent model is market leading and an unrivalled selling point.

The franchisees in this business often have varying levels of industry knowledge and experience, as well as differing financial positions. This is why it is particularly important to match your personal circumstances to an opportunity suiting you the most. Northwood is flexible with this approach.

In terms of financing, this business appreciates that only a handful of people have the full amount of capital required to start this franchise business immediately. Therefore, if you are interested in this opportunity, Northwood provides a range of options to get you started. This is a great advantage that many other franchises do not offer.

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Business Visibility 

As a network of estate agents and letting agents, Northwood offers the additional benefit of guaranteed rental income for landlords! As well as this, mortgage advice from experts and dedicated partners.

Northwood letting and estate agents was established in 1995 and began franchising the company in 1998. Over the years the business has accumulated 93 units, being both original agents and franchises nationwide.

Training 

When you decide to invest in your very own Northwood franchise, you will part take in a 5-week comprehensive training program which ensures you have all the required fundamental knowledge and residential training. The training takes place in Fareham, Hampshire and consists of practical and online training in addition to work experience in a dedicated Northwood office.

After this, you will be fully supported for the entire contract length. This helps with the smooth running of the business daily and as a whole. The ongoing support includes:

  • Additional training courses
  • Networking with other franchisees for guidance
  • IT, legal and telesales support
  • Business audits on a regular basis
  • 1:1 support with your business and operations directors
  • Regional franchise meetings twice a year
  • A range of marketing materials

Northwood franchises will also introduce a portal of online training for further education on lettings, legislations and systems. You will have full access to all the SAGE software you need also.

Investment Cost 

The initial franchise fee you would be required to pay is £25,000. Following this there is an initial investment of £45,000 – £50,000. The total investment into this letting agent franchise is £135,000 – £150,000.

With this opportunity, you will be required to pay a 10% management fee monthly (also known as a royalty fee). An additional £400 per month will also be required as an advertising fee. You will sign an initial contract of 5 years to ensure your dedication to the business. There are financing options available as previously stated.

Eazi-Apps Awards 

Throughout their business history, Northwood have earned a range of awards both as a business and as a franchise opportunity. The most notable achievements from this company are: 

 

  • Best Letting Agent (fourth consecutive year)
  • Best UK Franchise (fourth consecutive year)
  • Best U.K. Large firm – All Agents Awards (2015)

Letting and estate agent franchise opportunity

We hope reading through the facts and figures on this page has provided further insight into why owning a Northwood franchise could be the right solution for your business needs. However, after looking into this business venture in more granular detail, it’s always easier to see the benefits laid out clearly for easy digestion…

So, what exactly are the benefits then of owning a Northwood franchise?

Experience. The property market is a challenge! It is an exciting venture in the eyes of Northwood as it also should be in yours. Starting as an independent agent, the pressure of the market can sometimes feel overwhelming particularly in terms of its regulatory forces and the fierce competition. However, with Northwood, you are given the opportunity to join a larger network of letting and estate agents with increased brand awareness in addition to the expertise and experience of an established brand.

Confidence in your contracts. Over 140 government statutes and regulations apply to lettings, this can be hard to get your head around without a legal and compliance department. Luckily with Northwood, that’s exactly what you’ll receive. The businesses IT, systems and accounting have been developed and streamlined across the whole business over 25 years.

Uncomparable USPs. The unlimited revenue stream that Northwood offers is an exceptional bonus. Their guaranteed rent service has built the foundation of this company as it provides the agent with security. This USP will make your franchise stand out in addition to the company ethos and fool proof business model.

Brand recognition. Your franchise will have nationwide exposure at no cost to yourself. Promoting the business both nationally and locally through a range of marketing channels and media platforms ensures other 100,000 visits to the company website each month.

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Northwood Franchise What You Get?

A lettings franchisee pays an initial fee up front & any ongoing royalties to a franchisor. In return, the Northwood franchisee gains the use of the branded & trademark, full ongoing support from the franchisor, and the full right to use the Northwood franchisor’s system of doing business and sell its products or services.

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