Taylor Made Property Management Limited

Investment Requests for

Overview
Funds raised
£103,500
Final AER
15.00%
Loan Term
60
Completed:
11/01/2015
About the Business
Company Name: Taylor Made Property Management Limited Company Number: 09262207
Business Type: Commercial Property Years Trading: 4-5 years
Business Location: chorley
About the Risk
Risk Rating: C

Default rate

14.1%

Bad debt rate

5.04%

About the Security
Security Offered:
content
All Assets Debenture - Fixed and floating charge created over all assets of applicant company
Est. Equity: £0.00

content
Personal Guarantee - PG from Richard Taylor
Est. Equity: £0.00

content
2nd Charge on Residential Property - Second priority legal charge over personally-owned residential property
Est. Equity: £0.00

Important Files
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Who are we?

Taylormade Property management is looking to prurchase the Martin & Co Preston franchise, run by Woodholme Residential Lettings

Description of Martin & Co

Launched in Yeovil in 1986, Martin & Co grew quickly and has become one of the UK's leading residential lettings and property management businesses. Located on the high street the franchised network of dedicated letting specialists has a distinctive brand and a well established reputation.

Martin & Co have seen an unprecedented level of recent growth. There are currently 190+ franchised offices nationwide, with the majority now also offering sales since 2012.

In December 2013 Martin & Co (UK) Ltd became a Public Limited Company (PLC) and its shares are openly traded on the Exchange. The trading company Martin & Co (UK) Ltd will remain and MartinCo PLC is the holding company.

Brief History of Woodholme Residential Lettings

The Preston Franchise of Martin & Co has been run by Woodholme Residential Lettings Limited for the last 5½ years and has established itself a strong footing in the lettings market within the franchise territory also for the last 12 months they have started offering the sales side of the business on quite a small scale.

Whilst the franchise has been managed well it has not taken full advantage of the many opportunities with the territory and has therefore not seen the growth that was initially anticipated and planned for. There have been some mitigating circumstances around this lack of growth but in the main the business has simply been allowed to tick over for the last 18-24 months with no real push to expand.

As an operation it is currently turning over circa £180k per year and yielding a profit of circa 30k per annum.

Taylor Made Property Management

Taylor Made Property Management Limited was incorporated in October 2014 with the express purpose of taking over the Martin & Co franchise based in Preston.

With the backing of Martin & Co, and their 25+ years of experience as a franchisor, Taylor Made Property Management will lead the next chapter of this franchise and look to develop the existing business to the level it should be for a territory of it size.

The owner of Taylor Made Property Management, Richard Taylor, has experience as a landlord himself and 12+ years of managing multi million pound government contracts with the Welfare to Work arena, he will receive extensive training and support from the established network of Martin & Co both prior to taking over the franchise and on an ongoing basis.

Having lived and worked within the franchise area for the last 20 years the owners local knowledge is very strong and having made contacts in local councils and community organisations throughout that time he is very well connected across the area.

As well as the owner there is also a plan in place to have a financial/mortgage broker, with over 30 years’ experience, in situ within the branch to assist not only the clients of the business in their needs but also to share his extensive knowledge of the financial market in terms of housing with the owners and employees of Taylor Made Property Management.

Experience has shown Martin & Co that there is typically at least a 45% growth of the business during the first 12 months following a resale of an existing franchise.

The forecasts that have been put together for the next five years show the business going from its current turnover to achieving a turnover of circa 500k in year 5, yielding a profit of circa 165K. See attached forecasts.

READ MORE...

Details

Who are we?

Taylormade Property management is looking to prurchase the Martin & Co Preston franchise, run by Woodholme Residential Lettings

Description of Martin & Co

Launched in Yeovil in 1986, Martin & Co grew quickly and has become one of the UK's leading residential lettings and property management businesses. Located on the high street the franchised network of dedicated letting specialists has a distinctive brand and a well established reputation.

Martin & Co have seen an unprecedented level of recent growth. There are currently 190+ franchised offices nationwide, with the majority now also offering sales since 2012.

In December 2013 Martin & Co (UK) Ltd became a Public Limited Company (PLC) and its shares are openly traded on the Exchange. The trading company Martin & Co (UK) Ltd will remain and MartinCo PLC is the holding company.

Brief History of Woodholme Residential Lettings

The Preston Franchise of Martin & Co has been run by Woodholme Residential Lettings Limited for the last 5½ years and has established itself a strong footing in the lettings market within the franchise territory also for the last 12 months they have started offering the sales side of the business on quite a small scale.

Whilst the franchise has been managed well it has not taken full advantage of the many opportunities with the territory and has therefore not seen the growth that was initially anticipated and planned for. There have been some mitigating circumstances around this lack of growth but in the main the business has simply been allowed to tick over for the last 18-24 months with no real push to expand.

As an operation it is currently turning over circa £180k per year and yielding a profit of circa 30k per annum.

Taylor Made Property Management

Taylor Made Property Management Limited was incorporated in October 2014 with the express purpose of taking over the Martin & Co franchise based in Preston.

With the backing of Martin & Co, and their 25+ years of experience as a franchisor, Taylor Made Property Management will lead the next chapter of this franchise and look to develop the existing business to the level it should be for a territory of it size.

The owner of Taylor Made Property Management, Richard Taylor, has experience as a landlord himself and 12+ years of managing multi million pound government contracts with the Welfare to Work arena, he will receive extensive training and support from the established network of Martin & Co both prior to taking over the franchise and on an ongoing basis.

Having lived and worked within the franchise area for the last 20 years the owners local knowledge is very strong and having made contacts in local councils and community organisations throughout that time he is very well connected across the area.

As well as the owner there is also a plan in place to have a financial/mortgage broker, with over 30 years’ experience, in situ within the branch to assist not only the clients of the business in their needs but also to share his extensive knowledge of the financial market in terms of housing with the owners and employees of Taylor Made Property Management.

Experience has shown Martin & Co that there is typically at least a 45% growth of the business during the first 12 months following a resale of an existing franchise.

The forecasts that have been put together for the next five years show the business going from its current turnover to achieving a turnover of circa 500k in year 5, yielding a profit of circa 165K. See attached forecasts.

READ MORE...

To purchase an existing residential letting agent, Woodholme Residential Lettings Limited

Loan Offers
Business Profile

What is the loan for?

To purchase an existing residential letting agent, Woodholme Residential Lettings Limited

Why consider investing?

What will make the difference?

The owner of the business will work full time within the franchise alongside the existing staff, this has not always been the case with the current owners of the franchise and so the control and knowledge of what is happening has not always been as it should have been.

There are at present a number of areas of the market that have not been fully explored or in some case even touched.

Student Accommodation

Preston, with its University and several large college campuses, has an abundance of student accommodation and this is one area that has not been explored, using existing links within the university Taylor Made Property Management will make inroads into this market.

Categories of Tenant

At present the current franchise owners have taken the decision to only accept tenants who are not in receipt of benefits and have therefore not investigated what is an increasing market with the lack of council/housing association owned properties. Having worked extensively over the last 12 years in and around the benefits system the owners of Taylor Made Property Management have an excellent understanding of the potential of doing business with this group of potential tenants

Whole of Franchise Territory coverage

At the moment the majority of the managed property portfolio is concentrated in the Preston side of the territory. It is the intention of Taylor Made Property Management to within 3 years of taking over the franchise to open a second branch within Chorley to better service the southern end of what is geographically a large area. There are within the territory as a whole 20,000+ privately rented properties and so having a second presence within the second town located in this territory will enhance the planned growth. If necessary and viable a third branch could also be opened within Leyland

Investing Inwardly

The owner of Taylor Made Property Management does not intend to take dividends or other monies, with the exception of a reasonable salary, from the business during its first five years of operation but instead to reinvest the profits in order to grow the business this will be done by recruiting the right staff at the right intervals, not just reactionary but as part of the planning process to ensure that growth can be constant and levels of service remain high with the existing business

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