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Just How Do I Start My Own Estate Agency Business?

Like most businesses, starting your own estate agency will require a lot of gut, strategic planning and strong marketing, not to mention the financial commitment. According to Trinity Mirror, there were 6,547 businesses registered as estate agencies in the UK according to Companies House records in 2015. As expected, London has the most with 66.5 estate agencies for every 100,000 residents. While the rest of the country has 25.6 for every 100,000 residents. IBISWorld estimates that in the UK, revenue in the estate agency industry will grow at compound annual rate of 1% over the five years through 2018-19 to reach £11.1 billion.

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What Investor is Best for You?

There are a number of different investor avenues that can be explored and each of these would suit businesses with varying models. We have listed here some key routes that entrepreneurs can explore for their start-up or scale-up and growth opportunities.

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New Start-up Visa

The UK government has set its sights on taking advantage of the boom in startups contribution to the UK economy. The latest 2018 data by former Index Ventures partner, Gil Dibner suggests that post Brexit vote has seen a rise in UK number of deals for venture capital investments. Although British startups have attracted the most venture capital in Europe, accounting for $5.7B of VC investment there is room to grow.

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Transitioning from a professional career to running a start-up

Transitioning from a professional career to running a start-up requires a high level of market knowledge and understanding. Therefore, it is very rarely the case that an entrepreneur will establish their first venture without having gained any prior market or working experience. However, some roles are more suited to preparing individuals and aspiring entrepreneurs for the experiences they may face when establishing and growing their first venture. This can obviously vary hugely dependent upon the field of work the aspiring entrepreneur would like to enter. However, as a more generalised approach, the following careers typically tend to be the careers that would best prep an individual for establishing their own business:

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