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Fine & Country, A tough act to follow!

SQL Website > News > Fine & Country, A tough act to follow!

INTERNATIONAL property group Fine & Country is expanding its market footprint a move which further illustrates the strength of the groups franchised licensee model. Thats the news from Linda Erasmus, CEO of Fine & Country SA who says that Fine & Countrys expansion both locally and abroad simply cements the group's position as the worlds leading luxury property group.

Fine & Country was first established in 2002 in the UK and fast gained a following. Today the group has over 600 offices worldwide.

Over 300 are located in the groups homeland. The balance are situated in Portugal, Madeira, West Africa, Namibia, Malta, Cyprus, Qatar, Dubai, Mauritius and South Africa. Recently the group opened branches in the USA, India, the Bahamas, Spain and Mozambique. Fine & Country has also won a slew of notable awards over the years including the highly sought after award for Best International Real Estate Agency Marketing in 2009 and 2010. Sean Newman has been appointed as the Country Master Licensor for the USA. Raju Jaddoo, CEO of Fine & Country Mauritius is handling the groups entry into India and Spain is being headed up by ex-cricketer Martyn Ball. Closer to home, Fine & Country SA has welcomed a bevy of new licensees into the fold in recent months despite lacklustre trading conditions. The number of South African Fine & Country branches now totals 60 with new representatives in Alberton, Pretoria North and Boksburg. Erasmus has also been instrumental in establishing Mozambiques Fine & Country branch which is being overseen by Johan Nolan. Mozambique has long been a draw card for South Africans. Its within close reach, its aesthetically beautiful and has plenty to offer adventure seekers.

South African property purchases in that country have increased significantly over the past few years and we anticipate a serious uptick in this activity. As such we decided to establish a dedicated Fine & Country branch which will enable us to better serve our South African clientele. The expansion of the brand in Southern Africa confirms the fundamental validity and growth momentum of the franchise, adds Erasmus. Clearly Fine & Country is meeting the needs of consumers and therefore holds great appeal for franchisees looking to become affiliated with the brand and get in at ground level before the next property upturn. Erasmus adds that the establishment of a Mozambique branch is in line with Fine & Countrys mandate of targeting markets which hold strong cross border potential.

In line with this methodology, Fine & Country SA has fostered strong ties with Portugal, Malta and Mauritius given the strong South African interest in these markets. Many South Africans now purchase holiday and retirement homes in these countries via the groups network. Richard Combellack, CEO of Fine & Country attributes the group's success primarily to its mandate of targeting the top end of the property market and attractive licensee offering. Explains Combellack: Fine & Country opened its doors with the sole intention of targeting high end properties and equipping independent agents with the means to do so. This formula has proven highly successful and is one we perpetuate across the board. We attract independent agents through offering a flexible, affordable licensee proposition. Licensees can utilise Fine & Countrys proprietary data, world class technology and trademarks without being constrained by the strict operational obligations and onerous royalty fees associated with a typical franchise model. The licence structure adopted by Fine & Country allows entrepreneurs to develop their own area specific marketing plans and retain their independence while utilising the intellectual property of the brand to enhance their business. Moreover, every licensee pays a flat fee regardless of turnover.

Needless to say this has proven highly appealing to many. Through a typical licensee package, Combellack explains that licensees are awarded strict territorial rights and can also utilise Fine & Countrys international showroom in Park Lane, England. They can also showcase properties via a dedicated online Fine & Country TV channel and bespoke Fine & Country publications. Additionally, licensees can also join the Members Hub where ideas, news, techniques and branding ideas are shared and they can market properties globally through Fine & Countrys international referral network. Adds Combellack: There are very few property groups specialising solely in the upper quartile of the market as it can be a difficult segment to tap into without the right tools. Fine and Country essentially equips real estate agents with the ability to develop into this niche sector. However, only the best estate agents are allowed to sport The Fine & Country colours. In the UK, every agent is carefully vetted and has to be a member of either the Property Ombudsman or the Royal Institute of Chartered Surveyors. In other countries, potential members are also carefully selected according to prevailing property laws and every agent is obliged to operate according to a strict code of conduct to ensure continuity and high standards.

Combellack says that with every international addition to the group, Fine & Country looks for an appropriate Country Master in each territory. A Master Licence allows the holder to sublicense within a given territory. The majority of the time, Master Licensees will focus their efforts on recruiting new licensees and managing their existing network. Needless to say Master Licences are only awarded to those capable of expanding the brand across the selected country in a proactive manner.

Commenting on the groups success, Erasmus adds that Fine & Countrys ability to sell a lifestyle has played a key role in this regard. Fine & Country doesnt just sell bricks and mortar, we sell a lifestyle through offering additional information about nearby schools, transport links, shops and restaurants. This lifestyle concept is being achieved, amongst other initiatives, through professionally conducted interviews and the latest video technology which brings the property and its surrounds to life.

In terms of future expansion plans, Combellack says that Fine & Country is investigating other potential growth avenues. The group is also looking into developing lifestyle licences and specialised property industry acquisition departments.

Author: Linda Erasmus
Published: 29 March 2011

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