The Property Franchise Group Announces Colossal Gains For Ewemove

The Property Franchise Group happily announces a 23% upsurge in revenue for 2017.

In a recently released trading statement, The Property Franchise Group reported a 23% upsurge in revenue for 2017 - £10,2m compared to £8.3m in 2016. The PFG network now has 403 outlets made up of 283 traditional brands and 120 hybrid agency EweMove franchises. In the past year, PFG recruited 31 new franchisees for EweMove and six for its traditional brands.

With 70% of letting management service fees and 52,000 tenanted managed properties, PFG is right on track for its expansion programme objectives. PFG’s chief executive, Ian Wilson, said: "Our network continues to grow, with our traditional brands having performed very well, and benefitted from website improvements applied using insights gained from EweMove.”

These improvements generated 17,000 new business leads for franchisees from pay-per-click campaigns, with website lead volumes increasing between 200 per cent and 550 per cent year-on-year in quarter four of 2017.”

The Property Franchise Group revealed it had reversed trading losses accrued by its EweMove subsidiary in the first half of 2017. Wilson explains: “Franchisee recruitment continues to be an area of focus at EweMove, particularly the number of experienced estate agents being recruited. The new managing director at EweMove, having joined in June 2017, has made a very positive impact, turning around profitability and supporting the business development of existing franchisees.”

The PFG group explained how the deferment of the implementation of letting agents’ fees to spring 2019 will allow for promising trading for 2018. The group announced in its trading statement: “The Board believes that the Group's multi-brand strategy with an online offering provides a well-balanced exposure to the opportunities and threats which exist in a changing property marketplace and remains confident for the year ahead.”