Sourced Living has celebrated a pair of acquisitions by two of its newest franchisees who have taken ownership of established estate and letting agencies with a combined portfolio of almost 500 managed properties.
Dan Molkenthin and John Clark joined the franchise network earlier this year and, within weeks of completing their induction training, completed the acquisitions of Crucible Homes in South Yorkshire and Nationwide Estate Agents in Chorley.
The deals were completed through Sourced Living’s Assisted Acquisition Programme, which provides franchisees with access to funding and support to acquire existing property businesses.
Crucible Homes, which operates from offices in Wickersley and Chapeltown, manages 212 properties and will be rebranded as Sourced Living Rotherham. Nationwide Estate Agents manages 270 fully managed properties and will become Sourced Living Chorley.
PROPERTY ENTREPRENEURS
Stephen Moss, Chief Executive Officer and founder of Sourced Living, said: “I would like to offer my sincere congratulations to Dan and John, who are both ambitious entrepreneurs with a passion for property, as well as having the commercial background and skills needed to ensure their acquisitions succeed.
“Sourced has developed a superb Assisted Acquisition Programme, which can provide full funding for property businesses that fit our investment criteria.
“Having access to full funding gives our franchisees a huge advantage and this is a very exciting time for the Sourced Living brand.
“I can confirm that we currently have an acquisition pipeline of approximately £10 million, which will ensure that more new and existing franchisees can take advantage of our successful business model and receive the necessary support for accelerated growth.”
TRANSFERRABLE SKILLS
John Clark (main picture, left), who previously spent 30 years in project management, says: “My background provided me with a lot of transferrable skills to take on this acquisition. I’ve always been interested in property and have owned several rental properties abroad and in the UK, and I’m delighted that this acquisition opportunity came up so quickly.
“Nationwide Estate Agency is a very well-established business, with 270 fully managed properties, plus a team of three people, which includes the previous owner, who have all been very welcoming. We recently held an open day for landlords and tenants, and the response was incredibly positive.
“It’s great to be part of the Sourced Living franchise network, and to have completed on an acquisition at the same time as Dan. I have absolutely no regrets and would definitely recommend it as a great business opportunity.”
PASSION FOR PROPERTY
Dan Molkenthin (pictured below, left) says: “I’ve always had a passion for property, and had known of Sourced Living for some time. I knew the brand was doing well and decided that a franchise was a great opportunity for me to enjoy being a business owner, with all the support I needed to ensure compliance.”
He adds: “Crucible Homes does estate agency and lettings, and currently has 212 properties under full management, so I’ve really hit the ground running! I’ve inherited a team of eight people, and I’m actively looking to recruit more.
“It’s amazing that this acquisition came to life so quickly. The level of support and belief behind the Assisted Acquisitions Programme really sets Sourced Living apart – there’s always someone on the end of the phone if I need them.
“It’s not just about starting a business; this is about accelerating ownership and growth from day one. We are looking forward to moving to new offices in a few weeks, when the business will rebrand to Sourced Living Rotherham.”
LIFE-CHANGING OPPORTUNITIES
Sarah Byrne (main picture, right and above, right), Brand Manager at Sourced Living, says: “Watching franchisees who only joined us in February, with no previous industry experience, now heading up their own agency through the power of acquisition, the support of the Sourced Living team and the power of franchising, is exactly why I believe so strongly in this model.
“In these particular cases the acquisitions were 100% funded, creating genuinely life-changing opportunities and showing what’s possible when strong commercial people are given the right platform and support.”
