Our Divisions / Franchising
Franchising.
TPFG's Franchising Division is the core of the Group and the UK's largest multi-brand property franchisor. Through a portfolio of established estate agency and lettings brands, it supports a network of independently owned businesses operating across the UK in residential sales, lettings and property management.
149,000
Managed properties
35,000
Sales completed in 2025
£40k
Avg MSF per franchisee
Data relates to FY2025.
Where the Group began, and its core today
UK's leading multi-brand property franchisor
Franchising is where the Group began and remains its core. It combines recurring income, strong cash generation and local entrepreneurial ownership.
Our franchisees are independent business owners operating estate and lettings agencies in their local markets. They help customers sell or let their properties, and help buyers and tenants find their next home.
Our traditional franchise network brings together around 670 franchisees across 13 estate agency brands, including Martin & Co, Belvoir and Hunters. Our brands have different histories, geographic strengths and market positions. We preserve those identities while increasingly using the scale and capabilities of one Group behind them.
We also offer a complementary proposition through our Hybrid model, led by the EweMove brand, which gives TPFG another route to attract talented entrepreneurial agents into the Group.
We provide our franchisees with technology, training, compliance expertise, access to the Group platform and use of our brands. This simplifies the day-to-day running of their business, allowing them to focus on serving their local customer base.
We also operate a targeted portfolio of owned offices, which give us a controlled environment in which to develop and test new services, technology and ways of working before we roll them out across the network.
Multi-brand scale
High street or hybrid models
How the division earns
A proven, capital-light model
When a franchisee sells a property, they typically earn a commission from the seller. In lettings, they earn fees from landlords for finding tenants and, importantly, for providing ongoing property management services.
TPFG doesn't employ the people working in those businesses or carry their underlying operating costs. Instead, franchisees pay us a management service fee, or MSF, typically calculated as a percentage of their revenue. Across our traditional brands, that averages around 10%.
That makes our success a direct function of our franchisees' success. More completed sales generate more commission for franchisees and more sales MSF for TPFG. As franchisees grow their managed lettings portfolios, they generate more recurring lettings income and, in turn, more recurring lettings MSF for us.
Our Hybrid operators pay a recurring monthly fee plus fixed fees on each completed sale or let. The monthly fee gives the Group recurring income, while the transaction fees grow with each operator's activity.
Regardless of brand or proposition, the commercial value we provide is intended to be greater than the management service fees they pay us. Growing and more resilient franchisee businesses improve the quality of our earnings.
Three routes to growth
Driving sustainable growth
01
Growing the network
Recruiting high-quality franchisees to extend the network's coverage across the UK by demonstrating the economic benefits of joining TPFG.
02
Growing the lettings portfolio
The Renters' Rights Act is increasing the regulatory and operational demands on landlords. We expect more self-managing landlords to see the value of professional management, and our franchisees have the local relationships to capture that.
03
Expanding our sales footprint
Historically our franchisees have focused more on lettings. We are supporting them to win more instructions and increase their share of local sales markets.
Grow the core. Connect the Group. Expand the platform.
Our three-part Group strategy, and how each division delivers it.
Read our strategy