Franchise giant adds another nine offices to expanding network

One of the country's largest franchise agencies has announced that it is opening nine new offices. 

Belvoir has recently launched branches in Reading, Ealing, Bournemouth, Hendon, Hampstead and Biggleswade and offices in Bromley, Sutton and Hull will be opening in the near future.

The agency's network is now 211 offices and it says that several of the new franchise owners have joined Belvoir through 'resales'.

“Buying an existing Belvoir office is another effective way of joining the network and Belvoir is committed to helping our franchise owners execute their exit strategy when they wish to do so," says Dorian Gonsalves, the agency’s managing director.

"This year we have welcomed an extremely high calibre of new franchise owners who have completed on resales and they are all very driven and highly motivated to succeed," he says.

The firm says that property market experience for new partners is not a necessity as its franchise support team trains all recruits.

"Belvoir franchise owners now have the option to launch a sales service, as well as lettings," says Gonsalves. 

"This is proving to be very popular with vendors, including existing landlords who wish to expand their portfolio or sell an existing rental property."

He adds that as well as through franchising opportunities, the Belvoir network is expanding via acquisition.

Back in April, Belvoir - which listed on the London Stock Exchange's Alternative Investment Market in 2012 - reported a pre-tax profit increase of 25% on the previous year and Gonsalves said at the time that the firm was aiming to be at 'the forefront of further consolidation within the property franchising industry'.

A study carried out by Startups claims that a Belvoir lettings franchise costs in the region of £150,000.