Australian Franchise News – 19-10-11
FROM a small Queensland start up on Bribie Island to Australia’s largest home-grown household appliance rental franchise, Mr Rental is geared up for its next growth phase that will see it take on the global market.
In its 20th year, the franchise plans to take the business model, which established 86 successful Mr Rental outlets across Australia and New Zealand, abroad as part of a five year expansion strategy.
Currently negotiating a joint venture arrangement with Singapore, Mr Rental will also explore the untapped Ireland, South Africa, and USA markets.
From the Bribie Island home where the market for rentals was discovered, founders Glen and Kerrianne Hickman formed a concept that would see Mr Rental branded FCA’s ‘Franchisor of the Year’ and one of Australia’s most successful franchises.
Now as CEO, Glen Hickman said two decades of solid growth had positioned Mr Rental well for overseas expansion.
“The company has experienced significant year-on-year revenue and market share growth over the past 20 years that has put us in good stead to explore international markets while continuing expansion in Australia and New Zealand,” he said.
Mr Rental General Manager Alan Payne said the company’s business model had huge potential overseas.
“All of the countries we’re exploring are very different but they all present enormous opportunity for Mr Rental and we’re looking forward to the challenge,” he said.
“Singapore has a huge expatriate unit rental market and we’re in discussions with major property companies to provide home appliances and white goods. The States, on the other hand, is dominated by people renting to own so our traditional rental model presents an opportunity to differentiate ourselves and look for investors capable of developing regional markets.”
The next two years will also see the company introduce 20 new look ‘kiosk-style’ outlets across Australia and New Zealand to improve market penetration, particularly in providing service in regional areas for which the traditional Mr Rental distribution format was not appropriate.
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