58 | AWARDS for Excellence 2010 OPP AWARDS
Fractional Service: Gold medal winner: The Best Group The Best Group strives to be the best consulting group in the fractional ownership field, offering a “full end-to-end service to developers wishing to enter the market or broaden their offerings.” “We work with developers from
the feasibility stage through product design to implementation, finance and distribution” says director Ioannis Verdelis.
“Unlike our competitors, we don’t
have a one size fi ts all approach. We work closely with the development teams to deliver outstanding fractional products that fi t the location, the project and the market. “We have expertise in projects
around the world and have received wide acclaim for helping developers deliver successful projects that increase profi tability, access additional markets and ultimately deliver results to the bottom line.” How does this bespoke consulting
service work in practice? Verdelis describes the Best Group’s key steps: 1. Packaging Our fractional consultancy process has been built from experience in multiple projects, and is designed to minimise the fi nancial and time exposure of developers at all stages. Our first stage in a consulting project is a fractional business plan. We visit every project we work with for at least 2 days and assess all aspects of the site, including the existing business plan where a development is a conversion from whole ownership real estate. Only after we have fully
understood the context do we design a fractional programme that meets the developer’s objectives, and is viable in the market and for that particular project.
Our service then extends from
this stage to full implementation, including legal structures, introductions to partners, and support in all areas including fi nancing. We work closely with developers to identify areas where our expertise would be most effective. In some projects, we have provided a full time project manager to work at the developer’s offi ces. In other projects, we have introduced the developer to partners they would ordinarily fi nd hard to attract.
Our aim is to provide support where a developer needs it most, in the most fl exible way possible. 2. Value for money
One of the most common complaints from developers entering the fractional industry is the level of upfront cost they have to invest before
“Our aim is to provide support where a developer needs it most, in the most fl exible way possibe”
they secure their fi rst sales. We have strived to minimise upfront investment and to attract new developers in the industry: • By creating a fractional pack which includes a legal structure, trustee and exchange affi liation fees so developers know their full cost upfront. • By commencing every project with a feasibility study and business plan to prevent developers from investing in a proposition that won’t sell. • By providing test marketing
www.opp.org.uk | FEBRUARY 2011
Best in class | because it has thought through every aspect of the fractional sell
solutions to further test concepts before investment in legal and other fees is required.
While entering the fractional market will always need some upfront investment, we strive to identify viable projects, reducing the cost of entry at all stages. 3. Track record
Our experience spans Europe (Italy, Spain, Portugal, Greece, Cyprus, Turkey, France, UK), Central America, the Caribbean, Middle East, Africa and New Zealand. We have worked with developers small and large – from services to recognised hospitality brands, to governments and small developers. Our fl exible approach enables us to make a signifi cant impact in each project. 4. Innovation
Each market and each project is different, so we design a different fractional programme for all. From investment-led “early bird” programmes to branded luxury lifestyle offerings, we have assisted developers to fi nd and
highlight their strengths. And by recognising the need for integration in a fractional consulting business, during 2010 we have also invested signifi cantly in fi nancing solutions for developers. 5. Selling
Our core business has historically been consultancy, but in 2010 we invested heavily in developing a sales and marketing infrastructure that will directly sell for developers. We have invested in systems, procedures, staff, as well as distribution and marketing assets which we employ. We have also developed partnerships with leading organisations in the fi eld of fractional ownership distribution. These have enabled our clients to outperform their competitors in a tough market. 6. Buying A natural result of our approach is programmes that are more desirable in the market, and therefore more appealing to buyers.
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