With a background in banking and finance, Gary Everett’s move into the world of property may not have been an obvious choice. Made redundant in May 2003 due to a realignment to core services by the finance group for which he worked, Gary decided that it was time for a complete change and began a process of careful research on the options open to him.
His experience in management and sales led him naturally towards consultancy, but as he says: “I found nothing that really set me on fire”. It wasn’t until he discovered the Martin & Co franchise that Gary began to feel he had found his niche. The idea of a franchise was attractive: one in three new businesses fail, but franchisees have a far higher degree of success, probably because of the support structure that backs them up. With a string of some 120 offices throughout the UK, Martin & Co is one of the leading names in property letting. Members of the National Approved Letting Scheme, they work to a strict code of conduct and have a solid reputation based on the trust they build up with both landlords and tenants.
Before approaching Martin & Co, Gary carried out some thorough market research to find out as much as he could about the lettings market in and around Colchester. Knowing that the franchise would involve a substantial financial commitment, Gary was keen to ensure that he had done his homework. Part of that homework was to prepare a three-year business plan; his background and experience provided an excellent platform from which to do this, but Gary needed to be sure that the plan was realistic and wanted opinions from his bank, lawyer, and accountant.
His first stop was Colbea. Having been recommended to the Agency by a friend, Gary enrolled on the Planning Your Business Course and gained the input of business advisers, Richard Worn and Bill Paxton, whose advice and guidance encouraged Gary to take the project to the next step. One problem however remained: Gary had no premises from which to run his new business. At the suggestion of Richard Worn, he looked at one of the units in the Business Centre in George Williams Way - the only vacant unit at that time. The location – just off Magdalen Street – and easy parking, persuaded Gary that this would be an excellent place to begin his new venture, and after successfully gaining the franchise, the business was launched in October 2003.
From there, the story is one of success all the way. Gary has learnt many lessons about marketing his business as he explains: “I expected the phone to start ringing as soon as I placed my first advert”, he says, “but it simply wasn’t that easy! I learnt that my advertising needed to be placed consistently before it would work for me”. With the marketing support of the franchisor, Gary soon began to gain his first clients, one of which was Meg Goodall, a sales negotiator on a nearby development. This new contact was to prove significant; when Gary was ready to take on his first member of staff, the role of Lettings Negotiator was a natural one for Meg to fill. With some eleven thousand new homes planned for the Colchester Borough, Gary sees himself and Meg being kept very busy. He is currently about to employ his third member of staff – an administrator, who should help to make life easier in the office.
Many new properties are snatched up by investors and subsequently let out to tenants, providing buoyant business for the lettings market. Gary does not expect to see much of a slow down over the next few years and reports that trends for growth are still strong. As he prepares to take on his 100th tenant, he looks back on the past year with a degree of satisfaction. “The advice I received from Colbea certainly helped clarify my plans and gave me support that helped me to grow my business.”
