Premier Estate Business Plan 1

Business PlanRyan [email protected] 583928



What is Premier Estate?Premier Estate is a high end estate agency that has the potential to transform the way inwhich luxury homes are marketed.Taking inspiration from property programmes such as the BBC’s Escape To The Country,Premier Estate incorporates the role of the presenter to lead potential buyers on a videotour of the vendor’s home as well as an overview of each property’s local area.How will it help?Many buyers of luxury Norfolk homes are not local to the county. A sizeable portion ofproperties are bought as second homes, holiday homes and/or utilised as holiday rentals.Not only this but many local buyers and sellers of high value property move considerabledistances around the county to find their ideal home.Buyers of high value property generally lead a busy lifestyle and have little spare time. Withthis in mind, Premier Estate looks to reduce wasted weekends travelling to view propertiesbased on listings that may turn out to be completely unsuitable.For the buyer and for the vendorMarketing and selling property via video is beneficial for both the buyer and the vendor.The buyer gets a genuine feel for the size, condition and setting of the property and cancreate an accurate shortlist of properties to view in person.The vendor benefits by entertaining a much more qualified list of viewings than could havepreviously been arranged.This dual benefit helps to cut down on wasted weekends of viewings for both the buyer andthe vendor. It also helps to hasten the speed of the sale by finding appropriate buyers fromthe moment the property is listed.

A Natural Progression…Video is the future of estate agency. Not just high value property but, in time, lower valueproperty also.Premier Estate looks to create a market position that puts itself at the forefront of videoestate agency, ready to explore the lower value market as and when the time is appropriate.Buying a house, whatever the value, is likely to be the largest investment of a person’s lifeso it is somewhat surprising that such an important investment is marketed in 2016 with ahandful of photographs and a local area map.An emerging marketCurrently there are three companies in the U.K. that are exploring presenter led videotours as a means of selling houses.One company, based in Cornwall, market all of their instructions with an accompanyingpresenter led video tour. This company requires no minimum property value and turns aprofit on a £180,000 property at 1.25%+VAT.The Managing Director of this company recently told Premier Estate that they would soonbe increasing their commission rates as they had found their clients to be more concernedwith service than cost.The second company, based mainly in Devon, market only their highest value instructionswith a presenter led video tour.The third company, based here in Norfolk, follows the same structure as the second,incorporating presenter led video tours in just over 5% of their listings.The major property portals already include a ‘Video Tour’ tab within every listing inpreparation to accommodate this growing market.The time is right for investment into this emerging market to ensure that an early share of itis gained before video tours become an expectation rather than a luxury.

Norfolk’s luxury homes market in 2016Since January 1st 2016 there have been 269 new instructions in Norfolk for propertiesvalued over £500,000 only (to March 11th 2016).In January a total of 80 new instructions were listed with a combined value of £59,909,990.The average value of these luxury homes for January was £748,875.In February a total of 126 new instructions were listed with a combined value of£92,149,840. The average value of these luxury homes for February was £731,348.Of the 269 luxury properties listed between January 1st – March 10th 2016, £206,283,724worth of luxury estate has been listed, equating to an average price of £766,854.42 of the 269 listings are valued at over £1,000,000.Market share57 agents share the 269 listings mentioned above. Of these 57 agents, only seven have listedten or more luxury homes since January 1st 2016.These seven companies will eventually be Premier Estate’s main competition, however, it ismore realistic that Premier Estate will be competing with the remaining 50 companies inyears one and two as brand recognition continues to grow.Below is a graph showing 2016’s current market share of newly listed luxury homes.

Conservative expectations for year one…Taking into account 2015’s high volume of luxury homes going to market as well as a strongstart to 2016, it is realistic to assume that 1,500+ new instructions will be listed in 2016, allwith a value of over £500,000.Should Premier Estate take a 1% share of the luxury homes market in Norfolk in its firstyear of trading, the company would market 15 luxury homes.In year one, Premier Estate will focus on attracting vendors whose homes have been on themarket for over six months (discussed later in the strategy section) but for vendors whoapproach Premier Estate with a new instruction, the company will pay an ad hoc Valuer toassess the property and be paid upon the vendor signing with Premier Estate.With conveyancing generally being a bigger consideration in the sale of larger properties,it’s quite common in this market for sales to take between six and nine months.Based on the above, Premier Estate conservatively expects to have sold seven properties bythe end of year one’s trading, with the remaining eight properties crossing into year two’ssales.Turnover projections for year one…The average price for a new instruction in the luxury homes market in 2016 is £766,854.Premier Estate expects to have completed on seven properties at 1.25%+VAT each.Based on the average price, Premier Estate forecasts a commission per property of£9,585.67 not including tax. Tax has not been incorporated into the projections as it will becovered by the vendor but can be incorporated if required.With seven properties being sold in year one, a turnover of £67,099.73 before expenses canbe expected. The marketing work on the remaining eight properties would have beencompleted and paid for in year one.Upon completion of these remaining eight properties, a further £76,685.40 can be carriedinto year two’s projections.

Conservative expectations for year two…Year two’s expectations are again based on an average of 1,500 luxury homes going tomarket in Norfolk each year, all with a value of over £500,000.Premier Estate expects to double its market share in year two to 2% as brand recognitionincreases with the addition of further marketing and reputation.A 2% share would give Premier Estate 30 new instructions to market in year two; that inaddition to the eight properties carried over from year one.Taking between six to nine months on average to sell a luxury home, Premier Estateexpects to complete on 16 of the 30 new instructions in year two, as well as completing onthe eight properties carried over from year one.Based on the above, Premier Estate expects to complete on 24 properties in year two.Turnover projections for year two…Should the average price of a luxury home remain at £766,854 throughout year two and,again, based on a commission charge of 1.25%+VAT, Premier Estate expects to turnover£230,056.08 not including the tax element of the sale.Additions…In year two, Premier Estate expects to turn the part-time office staff’s job into a full-timeposition but maintain the role of ad hoc Valuer to a casual paid-per-project basis.In year two, Premier Estate still expects to get the majority of its new business byapproaching vendors with homes that have been on the market for over six months andappropriates 30% of new business to the need for an ad hoc Valuer (9/30 properties).

Conservative expectations for year three…Year three’s expectations are again based on an average of 1,500 luxury homes going tomarket in Norfolk each year, all with a value of over £500,000.Premier Estate expects to double year two’s market share in year three to 4% as brandrecognition increases coupled with the recruitment of full time staff to handle demand.A 4% share would give Premier Estate 60 new instructions to market in year three; that inaddition to the 14 properties carried over from year two.Taking between six to nine months on average to sell a luxury home, Premier Estateexpects to complete on 30 of the 60 new instructions in year three, as well as completingon the 14 properties carried over from year two.Based on the above, Premier Estate expects to complete on 44 properties in year three.Turnover projections for year three…Should the average price of a luxury home remain at £766,854 throughout year three and,again, based on a commission charge of 1.25%+VAT, Premier Estate expects to turnover£421,769.48 not including the tax element of the sale.Additions…In year three, Premier Estate expects to employ another full-time office staff member aswell as employing an incentive-based estate agent to share all new instructions 50/50.The agent will receive £20,000 salary with a 15% commission per sale (avg. £1,437.85)that they are responsible for. This new agent will also need a company car and fuel costs.The new agent will double as a Valuer to ensure it is in his/her best interests to find theright price for the property and sign the vendor to ensure they receive their commission.

Start-up expensesThe largest initial expense will be the rent of a small commercial premises in Norwich citycentre.Due to the high end nature of the business, Premier Estate’s demographic will expect aphysical presence, as opposed to an internet-only proposition, located centrally where theycan meet the people selling their home in an impressive environment.The premises does not need to be large and the following projections are based on anapproximately 42 square metre floor space which is available on Bedford Street at a price,inclusive of business rates, of £11,500 per annum.To create a vintage feel to impress the target market, the small premises will need to befitted out with the following furniture, all sourced second hand from eBay and Gumtree:Carpet: £126 (based on £3 per square metre)Oak office desk: £75Two brown leather two seater sofas: £150Three brown leather chairs: £120Corner table: £20

Coffee table: £50Wood burner effect electric stove: £30Fireplace surround and hearth: £50Three freestanding lamps: £60Skirting boards: 4 pack of 2.4m lengths @ £17.95 each x 4 packs @ £71.80Furniture total cost: £702.80First impressions…Upon entry, the visitor will be greeted by a relatively lowly lit ambience from the freestanding lamps with a desk to the front right of the floor area. The office/reception willtake up the front third of the floor space.Two thirds of the floor space will be dedicated to a comfortable seating area. From theentrance, visitors will be drawn to the wood burner placed at the centre of the far end wall.Two brown leather sofas will be placed on either side of the wood burner/fireplace with alow level coffee table placed centrally. Due to space constraints, this area aims to representa snug where visitors can relax while having a coffee and a chat.In the middle third will sit a relatively small table placed against the right wall andsurrounded by three brown leather chairs. This arrangement will leave a walkway along theleft side of the floor space.The snug will house a wall-mounted television above the wood burner where visitors canview tours of properties listed by Premier Estate and/or flick through marketing materialslaid on the tables.Two tablets will also be available for guests to view tours of properties should either thetelevision be in use by another guest or for those who simply prefer private viewing.This set up is ideally suited to the target market.

Start-up expenses continued…To facilitate the filming of properties some professional equipment needs to be purchased.All of this equipment will be bought second hand.Premier Estate has teamed up with a professional cameraman and video editor who hasagreed to work on a per project basis for a set cost and has recommended the followingequipment to film with:Sony HDV 1080i Mini DV Camera: £299Tripod: £20Shoulder rig: £30Mini wireless mic pack: £60HD drone: £200Professional filming equipment total cost: £609In regard to office based equipment, Premier Estate already owns a computer, a televisionthat can be wall-mounted and a tablet. However, two more tablets will need to bepurchased second hand at a combined cost of £90.Business registration expenses…Setup of Private Limited Company: £15Property Ombudsman registration: £195 + £50 setup feeRegistration with the Property Ombudsman instils trust in potential clients and is theminimum requirement for estate agents.Registration gives potential clients the peace of mind that should a dispute arise it would bedealt with professionally and independently by the most appropriate industry authority.

Start-up branding expenses…The great thing about Premier Estate is that all of the design and many of the technicalelements associated with starting a business are at no expense:Logo design: £0Website design: £0Website build: £0Website optimisation: £0Branding consultation: £0Advertising consultation and creation: £0Marketing materials design and creation: £0In terms of ongoing costs for all of the above elements, it will continue to cost nothing untila point in time when Premier Estate can afford to employ somebody in-house to handlethese elements or can alternatively afford to outsource them to a company or individual.This said, there are a small number of branding expenses to take into consideration inrelation to start-up costs, the main of which is a company car.In a luxury industry such as this, it is important that the company emanates the class that thetarget market will expect. However, rather than paying £300 per month to finance a newluxury vehicle, Premier Estate proposes to purchase an older Mazda MX5 that can be spraypainted in the company colours, complete with stencilled logo. To the left is a Photoshop mock-up of how the branded Mazda MX5 may look. The car itself will cost between £800 - £1,000, the spray paint and stencil will cost a combined £100, any labour costs are free.

In addition to the purchase and branding of a company car, other start-up branding expensesinclude:1800mm x 900mm business sign: £98Business cards: £5A4 letter box brochures: £100Branded envelopes: £20Company brochures: £100Charcoal grey suit, gold tie and white shirts: £150Name badge: £5Car, spray and stencil: £1,100Branding total cost: £1,588Combined start-up expenses…Office furniture total cost: £702.80Professional filming equipment total cost: £609Branding total cost: £1,588Total start-up cost: £2,899.80

Anticipated monthly expenses…There will be monthly costs incurred in the renting and running of an office as well asemploying a part-time staff member to cover times when the director is talking to potentialclients, out to view a property or taking part in the filming of a property. There will also beutility bills to consider.Anticipated monthly expenses include:Rent and rates: £958.33Part-time staff member inc. contributions: £500Electricity: £30Heating: £50Internet and telephone: £25Petrol: £50Combined anticipated monthly expenses total cost: £1,613.33One-off expenses…There will be a guaranteed cost attributed to the filming and editing of each property thatPremier Estate takes to market.An associate of Premier Estate who heads a media department at a local education facilityhas agreed to direct and edit the filming and post-production of each property as well asfilming and editing the local area of each property.The cost is based on a per project basis of £500 per property. The presenter role associatedwith the filming will be carried out by Premier Estate for free.Building up a portfolio of local areas is part of Premier Estate’s long-term strategy to coveras many locales in as many counties as possible as the company expands into other areas.

Six-month financial plan and cash flow scenario…Due to the industry that Premier Estate will be embracing, it is unlikely that the companywill complete on a property within the first six months; but it will have seven to tenproperties on its books within those six months.With this in mind, cash flow becomes the main challenge to sustaining Premier Estate’sability to rapidly grow profits from month six onward and to gain more market share.To ensure that Premier Estate can make a genuine push to gain clients, keep them happyand have those clients talk to others of their fantastic experience, Premier Estate will needfunding to cover the first six months of trading.Taking into account the figures discussed in other sections of the business plan relating tostart-up, monthly and one-off costs, the following figure is required as a total loan amount.Start-up costs: £2,899.80Monthly running costs x 6: £9,679.98Filming and editing of first six properties: £3,000Business registration costs: £260Total loan requirement: £15,839.78

Year one financial projections month by month… Outgoings Income Profit Running Profit -£3,159.80 -£3,159.80 -£3,159.80Initial Set-upMonth 1 -£2,113.33 0 -£2,113.33 -£5,273.13Month 2 -£2,113.33 0 -£2,113.33 -£7,386.46Month 3 -£2,113.33 0 -£2,113.33 -£9,499.79Month 4 -£2,113.33 0 -£2,113.33 -£11,613.12Month 5 -£2,113.33 0 -£2,113.33 -£13,726.45Month 6 -£2,113.33 0 -£2,113.33 -£15,839.78Month 7 -£2,113.33 £9,585.67 £7,472.34 -£8,367.44Month 8 -£2,113.33 £9,585.67 £7,472.34 -£895.10Month 9 -£2,113.33 £9,585.67 £7,472.34 £6,577.24Month 10 -£2,613.33 £9,585.67 £6,972.34 £13,549.58Month 11 -£2,613.33 £9,585.67 £6,972.34 £20,521.92Month 12 -£2,613.33 £19,171.34 £16,558.01 £37,079.93Marketing (10% of profit) -£3,707.99Office drinks, biscuits etc -£300.00 -£1,750.00 Client giftsYear one profit £31,321.94

Year two financial projections month by month… Outgoings Income Profit Running ProfitMonth 13 -£3,613.33 £19,171.34 £15,558.01 £15,558.01Month 14 -£3,613.33 £19,171.34 £15,558.01 £31,116.02Month 15 -£3,613.33 £19,171.34 £15,558.01 £46,674.03Month 16 -£3,613.33 £19,171.34 £15,558.01 £62,232.04Month 17 -£3,613.33 £19,171.34 £15,558.01 £77,790.05Month 18 -£3,613.33 £19,171.34 £15,558.01 £93,348.06Month 19 -£4,113.33 £19,171.34 £15,058.01 £108,406.07Month 20 -£4,113.33 £19,171.34 £15,058.01 £123,464.08Month 21 -£4,113.33 £19,171.34 £15,058.01 £138,522.09Month 22 -£4,113.33 £19,171.34 £15,058.01 £153,580.10Month 23 -£4,113.33 £19,171.34 £15,058.01 £168,638.11Month 24 -£4,113.33 £19,171.34 £15,058.01 £183,696.12 Ad hoc Valuer -£4,500Marketing (10% of profit) -£18,369.61Office drinks, biscuits etc -£300.00 Client gifts -£6,000.00Year two profit £154,526.51

Year three financial projections month by month… Outgoings Income Profit Running ProfitMonth 25 -£8,279.99 £28,757.01 £20,477.02 £20,477.02Month 26 -£8,279.99 £28,757.01 £20,477.02 £40,954.04Month 27 -£8,279.99 £28,757.01 £20,477.02 £61,431.06Month 28 -£8,279.99 £28,757.01 £20,477.02 £81,908.08Month 29 -£8,279.99 £38,342.68 £30,062.69 £111,970.77Month 30 -£8,279.99 £38,342.68 £30,062.69 £142,033.46Month 31 -£8,279.99 £38,342.68 £30,062.69 £172,096.15Month 32 -£8,279.99 £38,342.68 £30,062.69 £202,158.84Month 33 -£8,279.99 £38,342.68 £30,062.69 £232,221.53Month 34 -£8,279.99 £38,342.68 £30,062.69 £262,284.22Month 35 -£8,279.99 £38,342.68 £30,062.69 £292,346.91Month 36 -£8,279.99 £38,342.68 £30,062.69 £322,409.60Commissions (OTE) 15/30 -£21,567.75 Company car -£1,100 Fuel -£1,200 -£300 Office drinks, biscuits etc -£11,000 Client gifts -£32,240.96Marketing (10% of profit)Year three profit £249,000.89

Minimum value scenario…Premier Estate has complete confidence that it will take, at the very minimum, a 1%market share in year one, a 2% market share in year two and a 4% market share by yearthree.However, Premier Estate cannot guarantee that the combination of sales over the threeyears will average a property value of £766,854 and therefore a commission per sale of£9,585.67.To this end, Premier Estate has created a three-year financial projection based on everyproperty having a value of £500,000 – the minimum value that Premier Estate is designedto market, unless the circumstances are exceptional.All outgoings remain the same over the three years as the original financial projections thatwere based on an average property value of £766,854. The only outgoing to change slightlyin this alternative projection is the commission due to the additional agent in year three.Based on every property having a value of £500,000, the commission due to Premier Estateupon completion of each property would be £6,250 not including tax.

Year one financial projections month by month… Outgoings Income Profit Running Profit -£3,159.80 -£3,159.80 -£3,159.80Initial Set-up -£2,113.33 0 -£2,113.33 -£5,273.13 Month 1 -£2,113.33 0 -£2,113.33 -£7,386.46 Month 2 -£2,113.33 0 -£2,113.33 -£9,499.79 Month 3 -£2,113.33 0 -£2,113.33 -£11,613.12 Month 4 -£2,113.33 0 -£2,113.33 -£13,726.45 Month 5 -£2,113.33 0 -£2,113.33 -£15,839.78 Month 6 -£2,113.33 £6,250.00 £4,136.67 -£11,703.11 Month 7 -£2,113.33 £6,250.00 £4,136.67 -£7,566.44 Month 8 -£2,113.33 £6,250.00 £4,136.67 -£3,429.77 Month 9 -£2,613.33 £6,250.00 £3,636.67 Month 10 -£2,613.33 £6,250.00 £3,636.67 £206.90 Month 11 -£2,613.33 £12,500.00 £9,886.67 £3,843.57 Month 12 £13,730.24Marketing (10% of profit) -£1,373.02Office drinks, biscuits etc -£300.00 -£1,750.00 Client giftsYear one profit £10,307.22

Year two financial projections month by month… Outgoings Income Profit Running ProfitMonth 13 -£3,613.33 £12,500.00 £8,886.67 £8,886.67Month 14 -£3,613.33 £12,500.00 £8,886.67 £17,773.34Month 15 -£3,613.33 £12,500.00 £8,886.67 £26,660.01Month 16 -£3,613.33 £12,500.00 £8,886.67 £35,546.68Month 17 -£3,613.33 £12,500.00 £8,886.67 £44,433.35Month 18 -£3,613.33 £12,500.00 £8,886.67 £53,320.02Month 19 -£4,113.33 £12,500.00 £8,386.67 £61,706.69Month 20 -£4,113.33 £12,500.00 £8,386.67 £70,093.36Month 21 -£4,113.33 £12,500.00 £8,386.67 £78,480.03Month 22 -£4,113.33 £12,500.00 £8,386.67 £86,866.70Month 23 -£4,113.33 £12,500.00 £8,386.67 £95,253.37Month 24 -£4,113.33 £12,500.00 £8,386.67 £103,640.04 Ad hoc Valuer -£4,500Marketing (10% of profit) -£10,364.00Office drinks, biscuits etc -£300.00 Client gifts -£6,000.00Year two profit £82,476.04

Year three financial projections month by month… Outgoings Income Profit Running ProfitMonth 25 -£8,279.99 £18,750.00 £10,470.01 £10,470.01Month 26 -£8,279.99 £18,750.00 £10,470.01 £20,940.02Month 27 -£8,279.99 £18,750.00 £10,470.01 £31,410.03Month 28 -£8,279.99 £18,750.00 £10,470.01 £41,880.04Month 29 -£8,279.99 £25,000.00 £16,720.01 £58,600.05Month 30 -£8,279.99 £25,000.00 £16,720.01 £75,320.06Month 31 -£8,279.99 £25,000.00 £16,720.01 £92,040.07Month 32 -£8,279.99 £25,000.00 £16,720.01 £108,760.08Month 33 -£8,279.99 £25,000.00 £16,720.01 £125,480.09Month 34 -£8,279.99 £25,000.00 £16,720.01 £142,200.10Month 35 -£8,279.99 £25,000.00 £16,720.01 £158,920.11Month 36 -£8,279.99 £25,000.00 £16,720.01 £175,640.12Commissions (OTE) 15/30 -£14,062.50 Company car -£1,100 Fuel -£1,200 -£300 Office drinks, biscuits etc -£11,000 Client gifts -£17,564.01Marketing (10% of profit)Year three profit £130,413.61

A low cost marketing strategy…Premier Estate aims to borrow the very minimum possible to successfully start the business. Thecompany’s in-house skills make it possible to negate any costs related to website design and buildalong with optimisation.In-house skills also make it possible to avoid costs relating to the design of marketing materials.Branding will usually be a significant portion of start-up costs for most companies but, in thisinstance, the majority of the loan will be attributed to keeping the company running until itmakes its first sales; at which point it will be possible to immediately begin to repay the loan dueto the substantial sum generated from every sale.With little marketing budget to play with, Premier Estate intends that the only marketing costswill come in the form of brochure printing and petrol.Premier Estate’s initial strategy is to focus on properties with a value of £500,000+ that havebeen on the market for six months or more or have been reduced in price. A price reductionindicates that the property may have been on the market for some time with little interest.Fortunately, Rightmove shows the date that every property was originally instructed or laterreduced in price. It also shows the map location and an image of the property.If a property has been on the market for a considerable time or has been reduced, it is likely thevendor is feeling a little anxious about their chosen agent’s ability to sell their home. This iswhere Premier Estate will find its initial gap in the market.It is unrealistic to think that a flood of potential vendors will offer their properties from day oneof Premier Estate opening its doors. After all, people who haven’t received materials throughtheir doors won’t even know about Premier Estate.However, it is vital that target vendors who have received materials have an impressive physicaloffice, located centrally, to visit and discuss the potential sale of their home with Premier Estate.

Properties reduced or listed for over six months…Below is a graphic to show the location of each of the 199 properties currently listed onRightmove as having been reduced or listed for over six months. A property that has beenreduced in price has very likely been on the market for over six months also.The map shows that there are two main concentrations of high value property in Norfolk; onebeing within a 20 mile radius of Norwich and the other stretching along the north westNorfolk coast from Holt to the Hunstanton area north of Kings Lynn.These are the two areas of Norfolk that Premier Estate will focus its initial marketing strategyand aims to complete this stage of marketing within two weeks of opening using evenings andweekends. Premier Estate cannot begin marketing until it has a physical presence and aworking telephone line.

Expected returns from brochure marketing…Premier Estate will continue to employ this type of marketing on a monthly basis; whereby anew list of properties that have been reduced or reached six months on the market is drawn upand brochures are posted through the doors of each property.From the initial brochure marketing, Premier Estate expects to receive interest from in theregion of 10-15% of vendors; 20-30 vendors.Premier Estate conservatively expects to convert 10% of these interested vendors or 2-3properties.Based on an average luxury property price of £766,854 (£9,585.67 commission per property @1.25%+VAT) that’s an anticipated return of between £19,171.34 and £28,757.01 from initialmarketing activity.In a minimum value scenario, that’s a return of between £12,500 and £18,750.In 2016 there have been an average of 26 new high value properties per month that fall into thecategory of having been reduced or having been on the market for over six months.Over the course of the first year’s trading, on this average, there will be 312 properties that willreceive a marketing brochure through the door; that in addition to the initial 239 delivered uponstart-up.A total of 551 vendors will receive brochures in year one. Based on an expected 10-15% ofrecipients making contact with Premier Estate and an anticipated conversion rate of 10%,Premier Estate expects to market between five to eight properties directly from this type ofmarketing in year one.Some of the commissions from these properties may carry over into year two’s sales but thiswork will generate, based on an average commission of £9,585.67, between £47,928.35 and£76,685.36.In a minimum value scenario this work will generate between £31,250 and £50,000.

A Premier state of mind…The most effective form of marketing for any company is word of mouth and Premier Estate isno different in this respect.Premier Estate will stand out above the competition because it is unique. When vendorsexperience something so different to what they’ve been used to, word will spread to friends,family, colleagues and acquaintances.High value vendors tend to associate with high value company and this is where Premier Estatewill capitalise.Premier Estate looks to tap into a mind-set of luxury and entitlement. Premier Estate’s clientsdeserve the very best and they will receive just that.From luxury flowers and chocolates to vintage spirits and experience days upon signing withPremier Estate and from professional video tours and fantastic customer service to luxuryweekend breaks upon completion with Premier Estate; everything about the company isdesigned to embrace and impress the luxury market.The high value market may be Premier Estate’s primary demographic, however, the companylooks to generate a buzz that will filter to all demographics, particularly the demographicaspiring to achieve properties such as those sold by Premier Estate.This is important for the immediate and long term success of the business. The aspiringdemographic may not be able to afford the properties sold by Premier Estate but they may knowsomebody who is able to and at some point they may be able to themselves.Online, Premier Estate will almost run as a property channel. People will be able to watchepisodes with tours of multiple properties in the same locale or choose specific tours of chosenproperties.Just because an individual may not be able to afford a high value property, they may still watchEscape To The Country and countless programmes exist because of this aspiring demographic.It is important to engage this demographic because as the company grows and costs can becomemore streamlined and guaranteed, Premier Estate will be in a position to offer a video tourservice to lower value vendors also.

A long-term plan…Premier Estate fully expects to hit all of its conservative targets in all three years’ projections;whether that be the minimum value scenario, the average value scenario or potentially to evenexceed projections.Whichever scenario happens, Premier Estate has plans for expansion as soon as is fiscallypossible.Expansion plans include: 1. To separate the media side of Premier Estate into a subsidiary called Premier Media, which will employ digital designers and videographers to expand the Premier brand and allow the company to diversify its income streams. 2. A larger central office to accommodate more staff and clients. 3. To open a second office based in north west Norfolk to be more accessible to this area. 4. To open offices in Suffolk and Essex to make Premier Estate an East Anglian proposition. 5. To offer carefully selected franchise opportunities around the U.K. to make Premier Estate a national proposition controlled centrally from Norwich.The company will not be content with a certain percentage of the Norfolk luxury propertymarket.Premier Estate intends to invest as much profit as possible into these expansion plans to ensurethat the Premier brand becomes recognised locally and then nationally for its superior serviceand ability to deliver something a little bit special.In the long-term there is no reason why this model cannot be exported internationally. Itappears ideally suited to the North American market and this is an area that Premier Estate willexplore when it has the time, money and enough success to warrant it.

The company will not be content with a certain percentage of the Norfolk luxury property market.