In true Victor Kiam style, five franchisees of Platinum Property Partners (PPP) liked the business so much, they bought it, and they plan to double to size of the business in the next five years.

Having already welcomed new joiners since they took on ownership in March, the total number of people supported over the last 16 years is just shy of 400. 

Established in 2007, the PPP network has created 1,300 high-quality Houses in Multiple Occupation (HMOs) for more than 8,000 tenants. As of the end of 2021, the franchise had collectively generated £237 million in rental income and achieved £43 million in capital growth.

In a six-figure acquisition, five long-standing Franchise Partners are now equal shareholders of the franchise and have launched a new strategy to ensure the network can enjoy continued success in an ever-challenging, but highly rewarding sector. 

Already renowned for its uniqueness in the franchising world, namely the fact that franchisees own the assets and can continue to run the business even after the franchise term ends, the Board is now consulting on more ways to improve value for money and lifelong benefits.

This includes developing a new package to better support and incentivise portfolio growth both during and beyond the franchise term as well as sourcing an increasing number of partner suppliers who provide bespoke and discounted products at special rates for Franchise Partners. These suppliers provide products and services such as tenant referencing, HMO insurance, and succession planning services.

There is also a key focus on enhancing the energy efficiency of the rental properties they provide, with one Franchise Partner already boasting a carbon-neutral home and many now taking a fabric-first approach to conversion and refurbishment.

Despite significant changes to the tax landscape, increased legislation, and rising energy costs, PPP’s dynamic model has easily adapted to remain one of the most profitable buy-to-let strategies in existence, generating yields upwards of 11%. 

Between them, Paul Watson, Jon Rose, Parminder Dost, Mike Hedgecox and Paul Kutchera have over 50 years of experience within the franchise and c.50 HMO properties.

As he approaches his 10-year anniversary with PPP, Paul Watson, who has a portfolio of five HMOs in and around the Woking area, reflects on why he took the opportunity to become a franchisor as well as franchisee:

“It was definitely a Victor Kiam moment for all of us. As he did with Remington Products in 1979, we genuinely loved the business so much, we came together to buy it! I know I can speak for all of us when I say that becoming a Franchise Partner with PPP changed our lives. For all of us, we chose to stay on after our initial term because the value and support we get from being part of a like-minded and specialist network is significant – not only for the running and growth of our portfolios, but also on a personal development level. This is an area we want to develop further.

“We’re excited to share our plans with prospective Franchise Partners and look forward to growing the network even more over the next 15 years plus.”