Our strategy is to deliver long-term growth by decoupling earnings from sales market cycles, with a focus on non-cyclical and recurring revenues. Our target is to deliver £25m-£30m adjusted operating profit in the medium-term to create significant shareholder value.
Lettings: Organic Growth
Lettings organic growth enables us to grow non-cyclical and recurring revenue streams, which will significantly enhance the quality of our earnings.
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Lettings: Acquisitive Growth
Our scalable operating platform enables us to be a consolidator in the fragmented lettings market. Acquired portfolios can be rapidly integrated unlocking revenue and cost synergies.
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Sales: Market Share Growth
Sales provides high levels of profitability in more buoyant markets and complements Lettings and Financial Services. There is significant upside potential by increasing market share, combined with a normalisation of market volumes.
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Lettings: Organic Growth
We will achieve this by:
- Winning new property instructions by better leveraging our database and embedding a culture of proactive lead generation both in our central hub and branches.
- Being the fastest agent to bring new instructions to market and improving our instruction to exchange success rate.
- Improve landlord retention through post-transaction service excellence in property management and back office operational processes.
Lettings: Acquisitive Growth
We will achieve this by:
- Acquiring high quality portfolios that meet our investment criteria, and expand our footprint in markets adjacent to our current footprint.
- Integrating acquired portfolios into our scalable operating platform to deliver revenue and cost synergies, and drive significant margin growth.
- Delivering recurring revenues and profits through retention of acquired landlords by delivering ongoing excellent customer outcomes.
Sales: Market Share Growth
We will achieve this by:
- Increasing market share of instructions in our core markets by re-establishing Foxtons’ premium brand positioning.
- Improving rate of sell-through from instruction to exchange by maintaining sufficient workforce capacity across our branch network and delivering industry leading training.
- Improving cross-sell by deepening connectivity with the Financial Services business and in-house conveyancing panel to improve conversion of instructions.
Financial Services: Revenue Growth
The Financial Services business is sub-scale and yet to reach its full potential. The business presents a compelling proposition: high levels of recurring revenues from refinance activity and new purchase transactional revenues from Sales cross-sell.
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Financial Services: Revenue Growth
- Growing capacity by increasing adviser headcount taking advantage of existing referral opportunities.
- Improving adviser productivity by reducing adviser data entry processes and improving customer contact times through the use of paraplanners and investment into technology solutions.
- Improving cross-sell through an increased emphasis on secondary products, to drive revenue and profits per customer.