Young guns go for it
21 April 2007
While a quarter of new investors in the buy to let market are aged between 26 and 35, a similar trend is emerging in the property franchising market. That’s according to national letting specialists Martin & Co.
The company, which has nearly 120 offices across the UK and Ireland has a host of young business people buying into the lettings and property management franchise.
Martin & Co managing Director, Ian Wilson said he believed the growth in the number of younger franchisees was an indication of how dynamic the sector is becoming.
They include:
Manchester University History graduate, Alex Ben Brahim, 24, the youngest franchisee in the network. From Colchester in Essex, he graduated from Manchester University in 2004, specialising in Middle Eastern history. He said: “I decided to get into the property business after talking with a friend who said he was interested in becoming a letting agent. I then realised just how much potential there was in such a growth market.”
Brothers Charlie (31) Julian (29) and Nick (28) Diggle, who have launched Martin & Co in Cambridge where they have strong local roots. Nick has been working as an account manager in London and is a philosophy graduate of Manchester Metropolitan University. Julian is a silent partner in the new Martin & Co Cambridge franchise. He is a software engineer living in Manchester having also studied there, gaining an MSc in Computer Science. Charlie has a first class honours degree in business and management studies from Salford University and was a project manager for Credit Suisse. He explained: “We got into buy-to-let in a small way by purchasing a couple of properties of our own and renting them out. It seemed a natural progression to go into the lettings business.”
Matthew White, 24, who has a degree in Economics from the University of East Anglia, has been working as a fresh food manager for a leading supermarket chain. He has opened a Martin & Co franchise in Norwich with his father, Michael, a retired senior bank executive.
Mohammed Yousaf, 34, a businessman with his own property portfolio and Mohammed Bashir, 31, a housing association executive, are teaming up to launch Martin & Co in Peterborough.
Ian said, “Recently we have seen a move towards younger franchisees, both in terms of the enquiries we receive and the investors who actually launch a Martin & Co franchise. ”
“Although overall, our franchisees generally come from a wide range of backgrounds and age groups, there has been a trend towards younger interest.”
“This is very encouraging, as it indicates their confidence in the sector and also that they see it as a long term option.”
Ian added: "Franchising has come a long way in a short time. More investors are realising that the guidance, experience and back up from a professionally organised, properly structured and proven franchisor is invaluable. Our support systems in addition to our technical and business training are second to none."
Martin & Co is set to open another 30 offices around the country this year, several of them in London.
