What is the Cost of a Property Lettings’ Franchise?

Stage One

After agreeing the terms of the lettings agency franchise agreement, you sign a letter of intent to proceed. We secure your territory with a deposit of £1,500. We prepare your franchise “agreement in principle”, allowing you time to discuss with your professional advisers. If you then decide not to proceed, your reservation fee will be refunded in full with absolutely no quibble.

Stage Two

You will then be invited to pay the second part of the franchise fee, which must be paid at least 10 days before your training starts, allowing us time to deliver the stationery pack.

Stage Three

Upon completion of the training, we provide the contents of the franchise package. You will then be equipped to run a fully functional Lettings Agency from the location of your choice. Any outstanding fees must be paid at this point, or no later than three months after signing the contract or otherwise by agreement.

If you are a Landlord, or already manage other property we may be open to discuss a more tailored arrangement subject to the circumstances.

Cost of a Property Lettings’ Franchise

We do not believe you need to spend tens of thousands of pounds to set up a successful lettings agency franchise. We know this can be done just as successfully from a well-planned operational office with good access. As in any business there are additional overheads which must be factored in to your finances and considered once your location has been agreed.

We work with many high street banks and can introduce you to a bank who may consider an application for funding. We provide you with a pre-prepared Go Direct Lettings business plan template, consisting of cash flow forecasts and projected profit and loss accounts based on your target projections. Our finance team can assist you make any final preparations needed before presenting this to the bank.

We are also always open to considering your circumstances and seeking ways in which we can assist you achieve this. Please contact us to discuss the possibilities.

Additional Funding

Banks often prefer a franchise business model to lend against because of the proven track record and success rate. In 2013, the turnover of the UK franchise market rose two percent to a value of £12.65 billion, showing and proving that franchising is an area of growth. There are currently approximately 1000 franchise models in the UK, employing about 500,000 people with an annual turnover, according to NatWest Bank’s 2013 report, of £13.7 billion.

If you want support to secure bank funding, the Go Direct Letting partners have a special relationship with NatWest Bank and can discuss options.

Franchise Finance

We are very  proud to be associated with Franchise Finance who will assist you with raising finance to support your application with us if needed.