Open Door Auctions
Opportunities are available throughout England and Wales, with a particular focus on markets north of the M25.
Is financing available?
Yes, through a third party.
Is training available?
EXCLUSIVE FDUK OFFER
A "buy one territory, get one free" offer is available to all franchisees who sign up through Franchise Direct before 30 June 2017. To find out more, please complete the form at the bottom of the page.
Welcome to a better way to sell property.
The Open Door brand was established in 2012. Specialising in property auctioneering, its pilot franchise produced a year one turnover of £197,000 and an operating profit of £114,000. It has since sold 500 properties in four years and has set-up four franchise offices in the past 12 months.
Its franchise model was launched in August 2015 and works at a local rather than a regional level making personal relationships, financial security and speed of sale the primary attractions for customers.
The company's ultimate goal is to disrupt the ‘open market status quo’ and provide a genuine alternative to customers in every local market in the UK.
The franchise package
Open Door has put together an attractive franchise package which is designed to outperform competition in a highly-populated marketplace.
In addition to shared knowledge and expertise, the package includes:
- Exclusive access to a franchise territory mapped by BFA-affiliated suppliers.
- Direct access to high street lenders who can cover up to 70% of start-up costs.
- A refined business model that, when executed properly, can produce a year one pre-tax profit of £60-62k. Based on proven numbers, this can increase to c.£150k by year three.
- Intensive induction training by the founders.
- Ongoing support from the head office team including ongoing visits.
- Partnership building with national homebuilders, letting agents and others.
- Multiple revenue streams including auction entry and buyer’s fees, sales commission and third-party referral fees.
Further information is available as part of the Open Door franchise prospectus — available for download when you complete an enquiry form — but, in brief, the key financial metrics are as follows:
- Joining and training fees = £9,995 - £19,995 depending on your selected package.
- One-off cost requirements = £2,000.
- 7 months’ cashflow requirements = £20,000.
- Target year one turnover = £153,000.
- Target year one pre-tax profit = £60-62,000.
Six reasons to choose Open Door
- Consumer behaviour. Auctions are becoming an increasingly popular way of buying and selling property. People are dissatisfied with the traditional way of buying and selling property.
- No national competitor. We are the only property auction franchise operating at a local rather than a regional or national level. We, therefore, offer a genuine alternative to conventional estate agents.
- Low start-up costs. We do not require franchisees to have a high street presence, saving £1000s of pounds in the process. We also believe in an owner-operator model which reduces overheads and boosts profit margins.
- Multiple revenue streams. There are multiple revenue streams available to Open Door businesses including auction entry and buyer fees, sales commission and third-party referral fees (i.e. to solicitors).
- Efficient operations model. We operate a refined business model that, when executed properly, can produce a year one pre-tax profit of £60-62k. Based on proven numbers, this can increase to c.£150k by year three.
- High-quality, dedicated support team. While all franchise propositions offer ongoing support, very few combine property knowledge with FTSE 100 consulting experience and/or trade body qualifications. This knowledge and experience is shared across the franchise network.
Who runs Open Door?
Open Door was founded as a family business and, unlike many property franchise propositions, brings together a genuine passion for property with strategic knowledge and foresight that has been developed by working for a top 10 global management consultancy.
This is reflected in the quality of our training, our operations manual and our approach to day-to-day business which places the customer, the digital agenda and the Open Door brand at the heart of everything we do.
What is Open Door looking for?
We are looking for likeminded, astute individuals who can replicate Open Door’s brand values and customer service within their local market. If you fit the following description, you are likely to be a good fit for our business:
- At least three years’ professional experience.
- A passion for selling and willingness to work hard.
- Demonstrable business knowledge or flair.
- Highly personable.
- Determined to succeed.
If this sounds like the opportunity for you, complete an enquiry form today to request more information and download our prospectus!