Case Studies
Mark Roebuck & Sara Patel (Baildon, Cleckheaton & Bradford City Branches)
Directors
Mark Roebuck and Sara Patel already had around 23 years combined experience within the HBOS group, but none of it was in estate agency. Mark had left HBOS to set up his own business in Project Management consultancy after completing his MBA in 2004, whilst Sara worked within the Bank of Scotland in Corporate. Both Mark & Sara had been involved in financial services previously, Mark as an Independent Financial Adviser and Sara as a Halifax Personal Financial Adviser, so the step from this into Halifax Estate Agencies wasn't a big one as their knowledge included offering advice around the house buying process.
They realised they had the opportunity to enter into an equity partnership and contacted the Halifax Branch Licensing team following a meeting with another Licensee, Kevin Hynes. The initial meetings with the Branch Licensing team were focussed around what opportunities were available. The past performance of a number of branches was provided which led to Mark & Sara settling upon Baildon, Cleckheaton and Bradford City Centre. Being an experienced project professional Mark had few problems with pulling together a business case, but this was helped greatly by the support from the Licensing team and from the finance modelling spreadsheets provided by Halifax Estate Agencies Finance team.
Getting the finance to purchase the branches was less ominous than may be expected, Mark commented, "There are essentially two costs to consider, goodwill, which is paid over 5 years and out of the income of the branches and the licence fee, which we had to finance ourselves. I already had some capital from my own business, but we got the remaining finance from Bank of Scotland and their lending team were highly supportive and understanding of our business needs.
After initial enquiries in October 2006, Mark & Sara took possession of the first branch, Baildon, on the first June 2007. All of the existing staff were transferred across under TUPE rules which meant that there was no break in the service offered to the customers and there was no learning curve for the staff.
I am surrounded by other branches which have transferred as part of the scheme, so there are lot's of my old colleagues to talk to for advice etc
Ian Weir (Westbury on Trym Branch)
Director
- Ian Weir joined company in 2000 as negotiator in branch.
- Promoted to Manager in 2001.
- Ian is a Liverpudlian born and bred, but since falling in love with Bristol has adopted the city as his 'home'.
- Westbury on Trym is a 'village' within Bristol, (It is still referred to as 'The Village') located near the beautiful Downs in Bristol.
- Busy branch with an Agency located within.
- Always full with local people.
Ians quotes
Ian described "working" at Halifax as fantastic. More often that not we get invited out to value the property of local customers thinking of moving. People trust the name, and recognise it comes with great customer service."
Ian also described the HEA Equity Partnership scheme as just for him. "I often dreamed of owning my own company, but you always worry about being out there on your own. It's just superb, as I get to effectively buy the business which I have built up over the last 5 years. I know what I am getting!"
"Like other parts of the country there are other HEA branches nearby - so you benefit from the wider network as well as being a 'locally owned' business."