It can be challenging to start a business in the real estate sector, but joining a franchise can help. With a winning model and expert support, these established organisations can provide a low-risk entry into the industry. Here, we ask: does Redstones franchise?
Investing in an estate agency franchise with both a lettings and sales division is often a wise decision, as demand is unlikely to fall in both sectors at the same time. Redstones is an online estate agency business specialising in both departments, so it could offer fantastic opportunities for savvy entrepreneurs.
Although the property market has seen its ups and downs over the past year or so, more people are choosing to upgrade to larger homes, as a result of the coronavirus pandemic. As indoor and outdoor space becomes more important than ever, it’s likely the real estate sector will be kept busy.
Does Redstones franchise?
Yes, Redstones is an estate agency franchise looking for new investors in the UK. At the moment, it has three branches in Walsal, Willenhall and Wolverhampton. To find out whether it’s offering franchise agreements in your local area, you should get in touch with the head office team.
History of Redstones
Redstones has been delivering customer-friendly lettings and sales services since 2003, when it was established by Manjit Virdiand. Today, the Redstones team distinguishes the business by carrying out the vast majority of its operations online.
Whereas most estate agents have to pay expensive fees to occupy commercial high street properties, Redstones has worked hard to make sure it can provide an excellent service over the internet. New franchisees can take advantage of the franchise’s established technologies and systems when it comes to managing their territories and teams.
What’s more, Redstones is proud to use state-of-the-art digital tools to support its clients. Anyone who chooses to sell their property through the franchise can benefit from its 3D floorplans and walk-through technology, which help viewers gain a better understanding of the space.
Redstones also offers an innovative ‘Switch Agents’ service, which helps landlords transfer their property management needs over to the franchise in a series of simple steps.
Starting a Redstones franchise unit
Redstones focuses primarily on property lettings, so franchisees will work closely with landlords and tenants in their local area. To provide them with flexibility and value for money, Redstones agents offer landlords a choice of several packages, from simple tenant introductions to a full management bundle.
Of course, franchisees also work in residential sales, a valuable revenue stream with high potential for future growth.
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Becoming a Redstones franchisee:
As a franchisee, you’ll offer a range of services under the Redstones brand. You’ll work in lettings, residential sales and property management, and you are likely to meet a wide range of different customers. Your clients could range from landlords with a single property to investors with huge portfolios.
How much you need to invest:
The total cost of setting up a new Redstones office is likely to be between £20,000 and £25,000. This includes the £14,995 franchise fee, covering all the initial training, equipment, and marketing materials, as well as your very own Redstones microsite. Thanks to the franchise’s status as an online estate agency, you can save any money you would have spent on renting and fitting out a high street premises.
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What you get for your investment:
All franchisees receive an exclusive territory comprising around 100,000 homes and 250,000 people. Redstones takes care to make sure every region has high potential for growth, working closely with mapping specialists to create branches with a balance of property types and resident profiles. As a result, all franchisees have access to equally profitable areas.
Once you’ve signed on the dotted line, Redstones will deliver a high level of support, including induction training. You’ll get two weeks of intensive tuition, headed by founder Manjit Virdiand at the company’s headquarters.
The course covers all aspects of running a franchise unit, from drumming up new business to maintaining good relationships with landlords and using the organisation’s digital systems. You’ll also find out more about the various tiered services provided by Redstones. By the end of the programme, you should have enough knowledge to earn an ARLA certification.
Redstones’ business support doesn’t end once you’ve become qualified. When the training sessions are over, the franchise will work with you to prepare a business launch plan and implement it as effectively as possible.
During your first two days of business and any initial meetings with landlords, a Redstones franchise specialist will accompany you. Then, you can expect to receive marketing materials and a monthly visit from one of the Redstones team members.
Redstones keeps in touch with franchisees as they develop their estate agency franchise unit, so you’ll get plenty of help while you expand your business and incorporate additional revenue streams.
Build a thriving business with the Redstones franchise model
Redstones is a franchise worth considering if you’d like to start an estate agency. Its low start-up costs, coupled with extensive training and support facilities make it a great option for entrepreneurs in search of a low-risk business opportunity. The franchising team is ready to help its investors launch thriving units in a market demonstrating rapid growth potential.
If you think the Redstones franchise model could be a good match for your ambitions in the property sector, you can get in touch with the brand. Head to its profile page here at Point Franchise to request more information.
Alternatively, we have a selection of other estate agency businesses on its books, ready and waiting for budding investors to pick up the phone. Browse our property franchises or take a look at our online estate agencies to get started. You can sort the list by each business’s popularity or investment cost.
Alice Tuffery, Point Franchise ©