In some walks of life, bigger is better and it is easy to see why a sizable estate agency could have a large influence in the market place. Economies of scale means that many large firms are able to provide a more affordable service to their clients and there is a lot of kudos attached to the name of a company that is successful in its field.
Hunters, an estate agency which initially opened in York over 20 years ago, knows all about kudos. Having snapped up a Norfolk sales and lettings agency, they now have over 150 Hunters branded franchises across the country, which is certainly something that brings kudos to the firm. However, for many people, the real kudos comes from the latest company that they have added to the Hunters fold, Kudos Residential from Norfolk.
Kudos held 7 branches across the country, including locations in Great Yarmouth and Norwich. All of these branches will now be rebranded to be Hunters outlets, allowing Hunters to enter new territory. In the last year, the company has added 37 new offices to their business empire and the firm is keen to have over 500 offices around the country by 2020. This means that there will need to be an aggressive level of growth in the next five years, but it seems as though the company has big plans for the future.
Chris Starkings is the director of Kudos Residential and he released a statement, saying; “It’s unusual to see a business of Hunters size, which is so service driven, and we wanted to partner with someone who had the same values as ourselves. The national network that Hunters offers is of huge benefit to our local offices – particularly the reach it has in London. A lot of our customers are moving from London cashing in and buying up at the Norfolk coast or Broads area.”
Stock exchange plans are next up for Hunters
After the conclusion of the deal with Kudos, there was no resting on laurels or a well-deserved reputation from Hunters. The company has just signalled its intention to float on the Stock Exchange. One report has supposedly placed a value of £20m on the company, which would be appropriate for a listing on the Alternative Investment Market (AIM) sub-market, which is the standard home for companies that are relatively small (in the grand scheme of business) and newly floated firms.
The 150 strong network of Hunters is mainly franchised and the company has a number of offices in major hubs in England. The company can be found in London, Manchester, Birmingham, Liverpool, Middlesbrough and Leeds. The company has also managed to expand overseas, with an office in Alicante in Spain.
The plans to expand the business into a company which has 500 branches around the country would make it a rival to companies like Countrywide, so you can see that there are serious intentions being laid out by Hunters.