Agency targeting 100 franchisees scores accreditation...

Small but fast-growing agency Propertynest has been confirmed as a British Franchise Association member.

BFA members commit to running an ethical standards-based business and assessment follows a collaborative process between franchisors and the BFA’s team of accredited advisors.

At the end of last year Propertynest, based in Leeds, announced it was hoping for 100 franchisees nationwide. It currently has offices in Elmbridge, Godalming, Guildford and Solihull, as well as Leeds.

The joining fee or franchise fee is £1,250 which includes the first month’s monthly license fee. There’s also an operating fee of £1,250 per calendar month.

Agents pay an additional advertising fee of 1.5 per cent of gross revenue, a royalty fee of 10 per cent plus gross revenue subject to a minimum £250 on individual sales.

For lettings transactions, agents pay 10 per cent of gross revenue on each new tenancy with a minimum £250.

All fees also attract VAT.

Agency founder Vincent Anthony says a key benefit of a Propertynest franchise is centralised support system for admin chores such as accounting, billing and record-keeping.

Of the BFA accreditation Anthony adds: “The BFA has 40 years’ experience working with franchise organisations to ensure the highest ethical standards to make sure everyone is treated fairly. We are proud to now have been accepted as an emerging member as we continue to expand our own franchised estate agency operation across the UK.

“The assessment process was necessarily detailed and thorough, and this gives peace of mind for any prospective franchisee that our training, processes and procedures have been fully evaluated.“