Angel Bank

Dynamic estate agency business poised for expansion

Fast-growing group of estate agents, selling residential property and financial services. Based in Sheffield, the fourth largest City in England.

Vision and aim: To be the largest estate agency group in Sheffield

We have opened 11 offices in less than 3 years, making us the second largest agent (by number of branches) in Sheffield. This has been achieved through a unique strategy of 3 wholly-owned offices, plus 8 branch partnerships (joint ventures).

We also own the financial services arm that supports all of these offices - a potential multi-million pound business alone.

Operating under a national franchise brand, offering strong local and national coverage.

3 funding options:
a. £480,000 for possible outright acquisition of the 4 original branches
b. £280,000 for 58% of the 4 units
c. £160,000 part investment

Funding to be used for growing the highly-lucrative financial services business, along with expanding the estate agency business.

One further option - acquisition opportunity for the financial services business for all 4 branches - £120,000 to anyone taking up option a or b above.

Projected revenues:
Year 1: £850,000 for the 4 branches including financial services
Year 2: £1,750,000

Across 11 branches in 2009, a modest volume of mortgage business (2 per branch per week) will generate revenues of about £1.1 million.

Gross profit:
Estate agency - £55,000 in 2008
Financial services - £75,000 in 2008

The current management team across the 4 branches have over 100 years combined experience within this industry.

Ideal type of investor will be an existing owner/operator of a related business, preferably looking for acquisition opportunities

Business Profile: P1025

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