It is with great pride to announce that Lucas Fox recently established The Lucas Fox Affiliate Programme – but the decision to franchise was not an easy one.
We have been deliberating the idea for several years now and the same questions kept coming up, including: what is the long term viability of our concept? How much direct competition would our affiliates face? Could we offer our affiliates competitive advantages? How could we make our brand work in new areas without compromising our high levels of customer service? Could we make a reasonable return on our investment? And perhaps most importantly, how could we protect our intellectual property – our brand which we have worked so hard to establish both nationally and globally, our advanced systems, our know-how and network of suppliers? We knew that if we were to expand in this way our intellectual property needed to be protected, nurtured and grown as the group grows.
After consulting a number of experts within the franchise industry, we began to recognise that franchising would indeed be one of the best ways to scale our existing successful business model. We wanted to take our hard-earned experience (both successes and mistakes) to create a framework to teach Affiliates how to successfully duplicate what we have achieved over the past 12 years or so.
The Lucas Fox Affiliate Programme is based on a conversion franchising model targeting existing best-in-class independently-owned agencies. We ensure that potential Affiliates adhere to strict criteria including their positioning in the real estate market (medium to high-end), professionalism, business practice and customer service.
We see our Affiliates as ambitious real estate companies that fit well within the Lucas Fox culture and wish to be closely associated with a leading established brand. Affiliates will benefit from our far-reaching national and international network, an award-winning digital marketing and international PR team, as well as some of the industry’s most advanced operational, recruiting, training and business development resources. Affiliates will therefore be able to focus on the core business of listing and selling homes whilst at the same time benefiting from the numerous advantages of being part of a bigger group.
Our plans are to create up to 50 new Property Lounges by the end of 2020 in key locations throughout Spain, the first of which has just opened in Gavà Mar, just south of Barcelona and another shortly to open in Andorra. We are currently looking at a range of other markets such as the Basque country, Galicia, Málaga and Seville, which are relatively untapped on an international level but offer exciting potential.
Upscaling our business in this manner reflects our dedication to evolve within a rapidly expanding Spanish property market. As one of the leaders in Spanish home sales to international clients and having created one of the most established brands in Spain’s real estate sector, we believe that Lucas Fox has the expertise, marketing capability and infrastructure to grow these new markets and attract more international investors. Commercially, our business is continuing to thrive and we expect this trend to continue throughout 2018. Our aim is to establish the Lucas Fox brand as one of the most recognizable and respected in the Spanish real estate industry.
Watch this space!