Low risk ways to start a business: Property lettings
Budding lettings agent? Joining an established lettings franchise gives you the opportunity to hit the ground running and generate solid revenue
Type of business: Property lettings
Minimum investment: Varies, can be anything from £2,495 (home-based) up to £150,000 (high-street outlet)
The private rental sector is growing at pace and there are now over four million rental properties in the UK. There are a cluster of fast-growing residential lettings franchises in the UK which give you the opportunity to take advantage of this buoyant market.
Peach Lettings, Belvoir Lettings, Martin & Co, and Century 21 are just a few of the successful franchises operating in this sector and they can give you the training you need to become a property expert – you don’t need to have a background in residential lettings.
Initial investment to start a property management franchise can be rather steep (Belvoir charges up to £150,000 which includes your high street outlet) when compared to other franchise opportunities but, with most banks willing to cover a large amount of this funding, it’s more feasible than you would imagine.
If you’re happy to work from home and aren’t fussed about owning a high street agency then Peach Lettings offers a far more affordable property lettings franchise package at just £2,495.
With property lettings, you’ll also be likely to get your investment back within no time. Belvoir says that the top 25% of its franchise owners have an average turnover of around £332,000 and Peach Lettings says that franchisees can earn in excess of £100,000 revenue per annum.
Saying that, a property lettings franchise isn’t necessarily a “get rich quick” opportunity as you will need to build up a portfolio of properties and build a relationship with landlords. Once you do this, you’ll then start to slowly see results.
See if you can get a Start Up Loan to help you start a business idea
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For more information on starting a property lettings franchise, click here.