New property business is not alone as start-up numbers surge
Customer service is the key focus for Marcus Annfield as he sets about establishing his new business, Cotswold Property Management.
Not surprising, in the industry into which he has launched his new venture, he is selling himself not just on his intimate knowledge of a county he has spent his whole working life and a sector he knows well, but on service.
His business, Cotswold Property Finders, will help people find properties, sell properties as well as manage and service them - from new homes to holiday lets and rental accommodation. It can be hired long or short term, on a contract or for a one-off fee.
Start-up rates for 2018/19 suggested this year, overlaid with the pandemic, Mr Annfield, a father of four, would not be alone in beginning a new business.
Some 672,890 start-ups were founded in the UK in 2018/2019 tax year, that’s 1,843.5 per day or 76.8 per hour.
But according to analysis of Companies House data by the Centre for Entrepreneurs (CFE) June saw a record-breaking number of new businesses formed – as far from being the end, lockdown and no doubt redundancy for some, spurred many a new beginning.
And then came the Government’s coronavirus Future Fune, enabling UK-based start-ups to apply for government loans of between £125,000 to £5m, subject to at least equal match funding from private investors.
Each one will have its own USP in mind.
For Cotswold Property Finders, it islooking after the customer.
“I was speaking to Chung Kong, who runs the Mayflower restaurant in Cheltenham recently. He told me his mantra was ‘you are only as good as your last service’. He has been in business, successfully, for a long time,” said Mr Annfield.
“You have to think about creating the best experience you can for the person you are looking after. You have to make sure that is the main crux of your business and deliver.”
His Cotswold Property business is powered by EXP – using one of the latest business models to hit the much-disrupted world once ruled over by traditional estate agents.
IEXP describes itself as "the first agent-owned, cloud-based estate agency and one of the fastest growing residential property businesses on the planet has expanded to the UK”. Under it sits Mr Annfield and other self-employed agents.
Start-up costs are low and overheads lower, meaning not just the risk is less for the new business owner, but the prices lower for customers.
Having previously ran Woodfield Lettings Mr Annfieldalreadyknew the Gloucestershire market, and had confident the service he was about to roll out for wouldwork.
“If you manage a property through an agent there can be a regular fee. You use us as and when you need us, whenever you need us.
“InCheltenham and Gloucester there is a big market for services accommodation. If a landlord has an issue, they can call us and be confident we will go in and deal with it for them,” said Mr Annfield, who launched his business officially just after this interview.
Which was closely followed by this post on social media.