Letting Agent Goes From £160,000 to £1,000,000 In Just 18 Months
Tom Soane is a proud and successful self-made businessman, but it wasn’t always smooth sailing. After two decades as an estate agent, Tom decided to launch his own letting agency in 2012.
For seven years, he struggled to turn over around £80,000 a year on both the sales and lettings sides of the business. It simply wasn’t enough to pay the bills – he had debt collectors and bailiffs on his back and struggled to pay his staff on time.
“My lowest point came in 2019,” he explains, “when bailiffs turned up at the door and locked the team out of the office. I had the drive and energy needed to succeed but was too busy with the day-to-day to focus on the growth of the business.”
All that changed when Tom attended an Agent Rainmaker course and heard the words that would change his business and his life: “feel the fear and do it anyway”.
“This message resonated with me, and I realised the reason I wasn’t where I needed to be was because of fear. From that moment on, I knew I wasn’t going to allow fear to stop me from being successful”.
“The first change I made was increasing my fees – of course I was worried that my landlords would leave. But I felt the fear, and did it anyway”.
What followed was a complete overhaul of the business including strategy, products, infrastructure, and acquisitions. Tom focused on social media, lead generation, and advertising – all the areas he’d been neglecting beforehand; he then systemised, automated, and outsourced everything he could.
In just 18-months his business grew from £160,00 to £1,000,000 with the lettings division going from a zero to a 48% profit margin in the same time.
“I hit something huge with Agent Rainmaker, I learned so much and realised that I didn’t need to do everything within the business – if there’s a job I don’t want to do, I pass it on to someone else, even though I was scared to do that previously.
“But I embraced the fear and by doing everything I was told, the business runs without me and more excitingly grows without me. I felt the fear and did it anyway. Now it’s your turn”.
If you’re looking to make more profit in your agency just like Tom did, but constantly find yourself doing the tasks that are damaging your business by not generating you any revenue, we have an online training platform that contains all the secrets to increase your profit, reduce your workload and systemise your agency!