Frequently Asked

Questions

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Do I need experience?

No, we will train you in all aspects of the business and support you for as long as you need.

Is this just another training course?

Knowledge and training courses are great, but they are massively limited. You can pay thousands to be taught by a property guru but after training is complete there is no ongoing support or if it is offered it comes at a sizeable extra cost not mentioned before. Property sourcing isn’t easy. We have a number of franchisees who have all paid for expensive training courses from some of the top property investing trainers in the UK, but they choose to join us because ultimately, it’s the support and tapping into our experience and network that takes their business to a whole new level.

What hours will I have to work?

This is really up to you to decide and dependent upon any other commitments you may already have. Obviously, the more time you give to your business the quicker you will see results and achieve your goals. Many of our existing franchisees started their businesses while remaining in full time employment. Once they began to generate an income, they felt happy to develop their Sourced franchise full-time.

Can anyone buy a Sourced franchise?

No, as a Sourced franchisee you will become our business partner and we will work closely together. This relationship is important to us; our success depends on your success. You will represent our brand and our reputation. This means we are judged on our franchisee’s service levels and professionalism. As such, we need to feel confident a franchisee has the correct mindset and attitude to make their business work. The synergy needs to be mutually agreeable.

I am already a property sourcer, can Sourced help me?

Absolutely. We typically find that existing property sourcers are missing a part of the jigsaw. They are usually very good at finding the investment deal but struggle to find investor clients or vice versa. This can be for a number of reasons such as gaps in knowledge or simply not having enough time to concentrate on the different aspects of the business. Sourced is often the answer to plug those gaps, allowing an experienced sourcer time to scale up their business or move into larger projects/ developments with our support and expertise. Some of our franchisees purchased a franchise as an alternative to taking on an extra member of staff so that they could access the network and have us take care of marketing and lead generation.

What would a typical week look like?

Once you understand your area and have a plan of action (with our help), you’ll find that your weeks vary immensely. A range of tasks you could typically be filling your time with are: analysing potential deals, attending viewings, making offers, networking locally with agents or attending property and business networking events.

Do I need a large working capital?

Minimal start-up costs are required for signing up to the property ombudsman and for the insurance cover you will need to operate legally and ethically. You won’t require an office and there’ll be no staff costs. In fact, there are no real overheads other than the management fee.

What marketing is provided?

At head office we have a marketing team dedicated to getting you results. A proportion of the marketing team’s time is spent on SEO for the website generating you leads. The marketing team also operates campaigns surrounding any property deals you may have. In addition, the team creates professional area investment guides for each franchisee area, packed full of property data and useful information. Another thing that marketing assist with is the SIN networking events, these are promoted through social media, adverts and Eventbrite.

Marketing are always working on new materials which you can use to help with sales. Some of these include whitepapers, infographics, assisted sales brochure etc. The team will regularly update you with new materials. If you wanted something bespoke creating for your franchise, this is also available at an additional cost.

Are there any hidden costs?

No, we are completely transparent, and the fees are clearly advertised (see section 10 of our prospectus)

Do I need insurance or to be regulated?

Yes, you will require public indemnity and public liability insurance. You will also need to join the PRS which is a Public Redress Scheme backed by the government. We will advise further on this during our training programme. Guest speaker Tina Walsh of ‘Property Sourcing Compliance’ will be on hand during your training week at Sourced HQ to advise you on operating legally and ethically.

How will I choose my area?

It makes sense for you to operate in the same area in which you live, since you’ll have good local knowledge (we can advise you on this too, with the help of statistical data, for instance).

How big is a territory?

In order to help maximize your return, at Sourced we provide franchisees with a bigger-than-usual territory of 40,000 properties.

Can I buy more than one territory?

Yes, additional territories are available at a 50% discount if purchased at the same time as your initial territory. Many of our franchisees do this in order to gain a bigger reach. You can also purchase additional properties for £500 per 1,000 properties.

Can I operate outside of my territory?

Yes, if there is no other franchisee in that area you are free to operate where you like. You should not actively market yourself and your services in a territory that is occupied by another franchisee. If however, you find an opportunity within another franchisee’s area we just ask that you inform that franchisee and agree to work together, and agree a fee split. This tends to work very well.

How much can I earn and how quickly?

This is, not surprisingly, the most frequently asked question we get here at Sourced. Running a business means forecasting your earnings and growth – which essentially relies on two aspects. Firstly, the amount of time you can dedicate to your business and, secondly, how focused you are. Put simply, you will get out of your business what you are prepared to put in. Sourced Franchisees can easily earn upwards of £20,000 from just one deal. How many deals you do depends on your time and approach. We have a dedicated business coach who will help and support you every step of the way.

How will I find investors?

We will teach you how to position yourself as the local expert to attract investors to you and your services. You’ll learn from our experience of what works and where you can find potential clients. Not only that, but we will also market your business and generate investor leads for you. In addition, any deals you secure can then be published on our huge global database of already registered and qualified investors.

Can I build my own portfolio?

Yes, we train you to teach investors how to buy property, create strategies and structure deals. We would be delighted for you to take advantage of this opportunity and grow your own portfolio by taking part in joint ventures with investors. As your business grows you will be able to cherry pick any opportunities to build as big a portfolio as you like.

Question not answered?

Contact one of our Franchise Managers to find out more