X-Press Legal Services
Positive Signs
X-Press Legal Services, a national supplier of property related searches managed to double turnover in 2008 and finished 2009 18% ahead of that historical high.
Figures release by Nationwide in late 2009 continued to show improvement in the property market. A 7th successive month of increases in the average property price was also underlined by figures showing 18-month highs in mortgage approvals.
Although transactions levels haven’t returned to their peak, one business continues to prosper in the related market. As many economic indictors show the worst of the downturn maybe over, businesses entering the market in the current climate may have the potential to maximise growth as and the recovery starts in earnest.
Essential Product
Dan Archer of X-Press Legal Services explains: “Our business provides an essential product to property, legal and financial professionals, but we have not been too adversely affected by the decline in property sales. As our work also comes from commercial property, remortgages and repossession cases the instructions have come from other parts of the sector.”
X-Press Legal Services have 42 franchisees covering the country and, despite the economic situation, managed to double turnover in 2008 and finished 2009 18% ahead of that historical high. “We believe that the fact our business is a franchisee, we have been insulated from the downturn,” continues Archer. “Local knowledge and hands on customer service are essential in a white collar consultancy business like ours. In addition, as most of our network works from a home office, we have been able to control our overheads to maintain a stronger performance.”
The next 12 months brings the potential of a new government, and X-Press is pragmatic on the impact of a change in the administration. “We have benefited from the Labour governments Home Information Pack initiative,” says Archer, “Currently the Conservatives plan to scrap the scheme, but we have remained focused on what we do best as a business and our product will still be needed, even if HiPs are withdrawn.”
Many business feel that multiple income streams are essential to weather economic and legislative turbulence, and X-Press appears to agree. “We have in excess of 50 reports that we can provide for our clients and the data held within these reports is essential for them to work and is required by law,” says Archer. “By offering a rang a range of services to our clients we have ensured that there are opportunities to focus on their aspects of the search business to compensate for whatever changes we face.”
Skills
The franchisees of X-Press come from a variety of backgrounds, but don’t require legal or property experience. Dan explains “The clients are the legal and property professionals and our franchisees supply them with reports produced by our bespoke software package. What makes our franchise owners successful are accuracy, professionalism and good communication skills; we leave the legal knowledge to our clients.”
X-Press was a finalist in the bfa franchisor of the year awards 2009 and the networks own franchisee of the year, Linda Mannion says this of her X-Press business: “I am delighted that I found a new and challenging opportunity with the prospect of even greater rewards. I intend to build the business into a vibrant organisation that will be the provider of choice within my area.”
In closing, Dan Archer says: “our business offers the flexibility of starting small and growing from the home into offices and employing staff. The control suites our franchisees, as some do not want to run big businesses and others want to be world beaters.”
Strong growth in the downturn seems to leave X-Press well placed as the country comes out of recession.
