Sourced Franchise

Dave’s journey to making 6-figures!

Meet Dave, an electrical contractor from Yorkshire, who, like many others, dreamed of entering the property market but lacked the necessary support and funding to make his dreams a reality.

That’s when he discovered Sourced. With expert guidance, ongoing property training, and access to funding, he’s now got two projects on the go set to make him a 6-figure profit.

Here’s a look at how he achieved this success by utilising our exclusive in-house lending platform…

Project 1: Full House Refurbishment

Dave discovered the Far View project, a detached 4-bedroom property, about 14 months ago and managed to negotiate a good price. He is now transforming the property by completing a full refurbishment, converting it into a 6-bedroom home and adding two more bathrooms.

Financials:

• Loan Amount: £460,000
• Purchase Price: £265,000
• Build Cost: £186,000 + Contingency
• GDV: £700,000

This project will make Dave an impressive six-figure profit.

Project 2: Dragon Parade Development

Purchased in November, this property originally comprised of three apartments. Dave’s undergoing a transformation to turn it into an 8-bedroom HMO (House in Multiple Occupation), including developing the basement.

Financials:

• Loan Amount: £575,000
• Build Cost: £250,000
• Expected GDV: £860,000
• The project aims for a monthly gross income of approximately £6,500, with a net of around £3,000.

Keen to follow in Dave’s footsteps? Get in touch to learn more about our unique franchise opportunity. 

“I am in year 4 with £11 million of pipeline projects”

Meet Sourced Property Franchisee, Nigel Guppy

Nigel has been a franchisee for nearly four years and joined Sourced as he was keen to get the right kind of training and support to leverage the UK property industry. We recently caught up with Nigel to learn more about the highlights and challenges of his journey so far.

What is your professional background and what drove you to join our network?

My professional background is rooted in the real estate sector, where I’ve spent numerous years as an Estate and Letting Agent before transitioning into semi-retirement. My passion for the industry has evolved into a desire to set a new standard in the creation of quality HMOs. 

What initial challenges did you face when you joined, and how did you tackle them?

We had to deal with our first project during lockdowns and we just had to be patient. One needs an extremely positive attitude at times, but this has always been the case for any small business.

How has Sourced supported your franchise journey so far? Any specific examples?

One of the main benefits for me is the exclusive access to funding for projects through their peer-to-peer lending platform. This has enabled me to further expand my portfolio and work on larger projects, which before, would not have been possible. 

Can you share a highlight from your franchise experience so far?

A standout moment in our franchise journey has been the successful completion of our initial project, which we proudly leased to the NHS. This achievement not only marked a significant milestone for us but also led to an influx of referrals from other NHS trusts interested in our services. The positive feedback and growing demand from such a reputable organisation have been incredibly rewarding and affirming of our efforts.

How do you connect with your customers and build relationships?

We connect with our customers and build lasting relationships through proactive networking and consistently maintaining a positive attitude. By engaging in industry events, we create opportunities to meet and interact with potential and current customers.

How has being in our franchise network benefited your business?

Being part of the Sourced franchise network has significantly propelled our business forward, particularly evident as we enter year 4 with an impressive pipeline of projects valued at £11 million for 2024.

What’s your advice to those considering joining Sourced as a franchisee?

Be patient and positive whatever and take in everything you can from a learning perspective, but it is a numbers game at the end of the day. I did loads of viewings when I started out to get more experience of my local market.

Building wealth with Sourced: “How I transformed my career”

The pathway to entrepreneurship through franchising has never been more enticing.

The UK franchise industry continues to thrive, with over £15 billion annual contribution to the economy, showcasing resilience and growth even in challenging times.

Unlike going at it alone, a franchise comes with ongoing support in training, marketing, and operations. You’re in business for yourself, but not by yourself. 

Our Head of Marketing, Lucy Richardson, recently caught up with Sourced Property Franchisee, Jamie Webb who is based in London.

Jamie started his franchise journey with us in 2020, driven by a desire to create a more flexible work-life balance. Over the past three years, he has not only achieved his initial goal but has also accomplished some remarkable achievements.

What is your professional background & what drove you to join our network?

I worked in the marketing sector in central London for 15 years, across a number of well-known advertising agencies. In 2005, I ventured into property ownership by purchasing a flat, and then in 2014 I released some equity from the flat to purchase a couple of HMOs – refurbing them, renting them out and then refinancing to purchase another. The rental income from these investments introduced me to the potential of the property market – but I knew I needed further training and support to make a success of it.

By 2019, I found myself seeking a change. I had the desire for a more flexible lifestyle, one that provided the opportunity to create more time with my family – yet, the prospect of starting on a new business path entirely on my own was daunting.

It was this search for a balance between independence and community that led me to Sourced. What attracted me to this network was not just the opportunity to own and grow my business but also the assurance of being part of a larger community. Joining Sourced meant that I would not only have the flexibility I needed but also access to a supportive network of franchisees and a HQ team.

What initial challenges did you face when you joined, and how did you tackle them?

I joined the Sourced franchise network in January 2020, and a couple of months later the first national lockdown was announced which meant I struggled to access the in-person training. Sourced reacted to this and instead quickly pulled together an online training program.

How has Sourced supported your franchise journey so far? Any specific examples?

My journey with Sourced has been significantly enhanced by their ongoing support system, particularly through the in-person training available from the start. Led by Chris Kirkwood, my first year included attending five training courses. These sessions were instrumental in deepening my understanding of the property industry and helping me choose the right strategy to meet my objectives.

Beyond the valuable knowledge gained, the sense of community within Sourced stood out. Interacting with fellow franchisees and sharing experiences made the journey less daunting. It was evident that Sourced is committed to continuous improvement of their service offering and providing ongoing support, setting them apart from other property training programs that offer limited guidance.

Can you share a highlight from your franchise experience so far?

A standout moment in my franchise journey has been the successful implementation of my strategy: sourcing and negotiating deals for investors in London.

Additionally, engaging in joint-venture developments with private investors has been both rewarding and challenging, enabling me to learn from my more experienced partners. A particular highlight for me was leveraging the knowledge from my initial training to create numerous meaningful relationships with investors.

Joining the Sourced network has helped me achieve a work-life balance that was non-existent during my corporate career. The franchise model has empowered me with the flexibility to work intensively during term time and adjust my schedule during school holidays to spend more quality time with my family. This newfound freedom to dictate my work schedule without sacrificing professional growth or family time is one of the most significant benefits I’ve experienced.

Can you share insights into your financial performance in the first year of operation?

Within the initial two months of joining as a franchisee, I sourced my first two deals, a testament to the effectiveness of the training provided. These deals were completed by August, allowing me to collect my sourcing fees and notably, I recouped my initial franchise fee within the first eight months. I am based in London, where the financial dynamics are more complex, requiring a focus on the quality of deals rather than the quantity. The properties I deal with tend to range in price from £400,000 to £1 million, with my sourcing fee set at 2% of the transaction value.

What’s your advice for those considering joining Sourced as a franchisee?

For those considering joining Sourced, my advice is straightforward: the effort you invest directly correlates with the success you achieve. Sourced offers an extensive toolkit and support system to facilitate your business operations, but your dedication is what truly drives your franchise forward. Be prepared to commit fully, understanding that it may take at least six months to start seeing substantial returns. Ensuring you have adequate cash flow to sustain your business during this initial period is crucial.

What future goals do you have for your franchise?

Looking ahead, my ambition is to not only continue sourcing high-quality deals but also to expand into more development projects and joint ventures. My marketing background fuels my enthusiasm for working with people, and I see significant potential in leveraging these skills to build partnerships and undertake larger development projects.

Ready to improve your work-life balance like Jamie? You can download our prospectus to discover more about owning and operating a Sourced Property Franchise today.

Building wealth: Tim’s journey to a multi-million-pound project

At Sourced, our franchisees are more than just partners; they are the heart and the sturdy foundation of our property ecosystem.

Among our many success stories, Tim Kampel’s journey stands as an example of ambition and achievement. We delved into his story to uncover his motivations for entering the property world, the reasons behind his choice to join Sourced, and his aspirations for the future.

Starting his property journey

Tim’s property adventure began at the age of 18, when he started his career as a trainee negotiator. Over the years, his roles diversified within the sector, including a stint as a letting agency branch manager.

2008 marked a pivotal year for Tim as he ventured into entrepreneurship with Box Property Solutions, offering a suite of services from home information packs to property photography. His excellence in the field was recognised when he was appointed as a judge at the 2017 Property Professional Show, and in 2020, his company received a national award. Yet, Tim’s ultimate aspiration was in property development.

Discovering Sourced

In 2021, Tim’s quest for growth led him to Sourced.

Despite the success of his business, he craved for more—specifically, to delve into property development on a grand scale.

“I was eager to move into property development and start working on larger projects” Tim shared.

Why Sourced? The Three Pillars

Tim cites three critical factors for choosing Sourced: exceptional support and knowledge from the HQ team, a conducive network for building a property career, and crucially, access to capital funding.

Tim’s first project – a joint venture with Sourced, made him £17,000

Tim’s initial venture with Sourced was a flip.

He acquired the property for £39,999, investing £34,000 in refurbishments, and achieved a Gross Development Value (GDV) of £95,000.

His first project gave him a profit of £17,000 and added a lucrative asset to his portfolio, with rental income comfortably covering mortgage repayments.

A vision for the future

Looking ahead, Tim is set up for his most ambitious project yet—a joint venture to transform a former care home into 27 apartments, with a purchase offer of £2.5M and a staggering projected GDV of £6.1M, translating to an anticipated profit of over £1M.

“How could most of us take on a project of this size? Sourced provides the education, opportunity, knowledge, and funding.” Tim’s journey with Sourced is a testament to the power of ambition, supported by the right partnership.

His story is not just one of personal success but a blueprint for aspiring property developers. At Sourced, we take pride in enabling our franchisees to achieve their dreams, and Tim’s narrative is a shining example of what’s possible when vision meets opportunity.

Source Franchisees have access to our funding platform, Sourced Capital.

Jason Kay began making moves in the property sector but found that he faced several challenges, not least finding funding for his projects.

“I’ve had lots [of challenges], with the biggest being funding, and lending was an issue for me starting out in property, even with a very good credit history”.

Joining Sourced as a Franchisee meant that he was able to access our funding platform, Sourced Capital.

The Turning Point

Life threw Jason a curveball with COVID-19, disrupting their business partnership and prompting a brave leap into the unknown. Walking away from their own business was tough, but what came next was a game-changer. Jason had recently invested a hefty sum in a property training course but left without the support to take that training to the next level.

It wasn’t just about the continuous support for Jason. Nor was it solely about the funding opportunities that seemed to unlock a whole new realm of possibilities. It was the blend of both, mixed with a sense of community that set Jason on a new path.

Achievements

Jason’s first win was turning a conventional property into a hub of 13 apartments using our in-house private lender, Sourced Capital.

From this, his confidence soared, and his next project was transforming a former care home into a 24-bed co-living space, marking a bold step up the investment ladder.

Jason has also dabbled in service accommodations, added to Jason’s portfolio, showcasing the versatility and opportunity that property investment could offer.

Looking Ahead

Jason’s transition from a business owner navigating through challenging times to a flourishing property investor is more than just a career change. It’s a story of resilience, adaptability, and the magic that happens when you find the right support system.

Here’s to the future projects, the continued learning, and the endless possibilities that lie ahead in the exciting world of property investment.