Franchise Focus
Nick Lyons A gap in the market
Nick Lyons, founder and CEO of No Letting Go, gives an insight into property inventory management services
INVESTMENT LEVEL: FROM £15,950
obvious to me that there was a niche in the market – a need for a UK-wide professional property inventory management service for both national lettings agents and private landlords.
W The private rentals market continues
to grow rapidly, with over 4.1 million people renting privately in England and Wales. Since legislation changes in 2007, inventory management services have become one of the most critical rental documents and yet this is still a young market with enormous potential.
Do you need a property or business background to be a No Letting Go franchisee? Our franchisees come from a wide variety of backgrounds; we provide full training and ongoing business support. What is important is that you enjoy dealing with people, are motivated and keen to develop and grow your business. As in life – you get out what you put in.
What rewards can you expect? That rather depends on your own goals
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hy did you decide to launch No Letting Go?
Having spent over 15 years in the property arena, it became
and why you have entered into a franchise business. Our best franchisees generate over £100,000 in annual turnover and typical gross margins range from 50 per cent to 75 per cent.
This business has very low overheads; 40-plus per cent net profit is achievable. Well apart from the financial aspects, our franchisees enjoy a high degree of personal satisfaction in running their own businesses.
Why is No Letting Go different to other property inventory companies? First of all, we are able to provide a national service delivered locally. This appeals to lettings agents and landlords that have large portfolios throughout the UK, without sacrificing a personal service. We are an established and respected brand known for our friendly and professional approach along with the quality of our reports. Our online ‘Property Inventory Management Software’ (PIMS) allows agents and landlords to order inventories online and communicate with clerks in the field. All our clerks use tablets configured to the No Letting Go system, and electronic reporting means we are able to provide the most efficient service.
Tell us about your franchisee selected as finalist in the bfa awards 2014 No Letting Go franchisee for West Berkshire, Charles Trevor-Roper, was recently selected
as one of four finalists in his category of the bfa HSBC Franchisee Awards, which received a record number of applicants this year. Charles, 71, has been shortlisted in the category ‘Olderpreneur’ which celebrates individuals whose wealth of experience has seen them acheive success with their franchise businesses.
Charles says: “I love the challenge of developing a business – it doesn’t occur to me to retire; I’ve got so much left I want to achieve.”
Where are new territories available to interested potential franchisees? There are territories available across the UK in this growing market. No Letting Go are currently represented in 41 locations; the most recent franchisees are Tarinder Bassi, whose franchise covers Ealing and Chiswick, Sheridan and Alastair Lines who have taken on the Gloucestershire territory including Gloucester, Cheltenham and Stroud, and Rachel Farr-Drejer, who has the rights to the Bath and north-east Somerset area. n
NO LETTING GO
WEBSITE:
www.nolettinggo.co.uk EMAIL:
info@nolettinggo.co.uk PHONE: 0203 1264 409 CLASSIFICATION: Property inventory services
Investment: £10k-£20k
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