Less than a year after Newton Fallowell acquired the Lovelle brand, MD David Spackman has announced that the predominantly sales-oriented brand, which is based in Lincolnshire and East Yorkshire, has benefitted from considerable investment and resources, with three corporate sales offices being bought and franchised by former staff members.
“This is a very positive news story for Lovelle and I am so proud of what everyone has achieved,” says David. “When Newton Fallowell agreed the acquisition of 18 Lovelle branches last December, six of those offices were corporately owned. As we are part of the wider Belvoir Group, we have been able to introduce considerable investment into Lovelle this year, including a stunning new rebrand, investment in a new website and working with offices to streamline systems and procedures to help improve the client experience.
“We knew at the time of the acquisition that some Lovelle staff members had expressed an interest in taking on the six corporate owned offices, and I am delighted to confirm that we have honoured these aspirations. The Lovelle Skegness, Hessle and Grimsby sales offices have now been franchised to existing staff, which is always hugely beneficial as they understand the business and the clients and are totally committed to growing and developing their investment. Interestingly, the Lovelle Hessle office was taken on by Sophie Witter, who had enjoyed working for Lovelle in the past until her family moved to Essex. On her return to the area I offered her a job, and eight weeks later she became a franchisee!
“In addition, the Horncastle office has been taken on and rebranded by the owners of our Newton Fallowell Boston and Spilsby offices, whilst retaining all team members. Discussions are currently underway to franchise the remaining two corporate offices to staff members and we will make a further announcement about this when those transitions have completed.
“There is no doubt that the Covid pandemic has resulted in a challenging year for so many businesses, but I am delighted that Lovelle has come through lockdown stronger than ever and I would like to pay tribute to all the people who work there. Everyone has been amazing, and incredibly supportive of all of the new investments and initiatives that have been introduced.
“This success story has all been made possible because we are part of the wider Belvoir Group and we are able to access the fantastic marketing, accounting, auditing and acquisition teams who work so hard to ensure the success of the business. The enthusiasm and willingness of new franchisees to commit to taking on former corporate offices is testimony to their appreciation of what Belvoir offers, and I am confident that the future of Lovelle as a franchise business is very bright.”
Belvoir CEO Dorian Gonsalves says: “I am very pleased that we have been able to make this happen, as it is always very worthwhile when former staff members decide to buy into a business that they are already working in. I wish all of the new Lovelle franchisees every success as they continue to operate these businesses, whilst developing a stake in their own future. Belvoir is actively looking for further opportunities to acquire reputable regional estate agencies where there may be managers who are considering owning and operating their own business.”