An Australian Franchisee Case Study
Name: Paul Holland
Location: Glenmore Park
Franchise: Mortgage Choice
Why I chose franchising
Having never owned my own business before, I felt it was best for me to leverage the systems, knowledge and support of a large and well known franchise system such as Mortgage Choice.
What I did before taking up a franchise
Previously I had been employed as a real estate sales person and had been training in the field of financial planning, but the majority of my working life was in farming/landscaping/gardening.
How I raised the finance
My own funds. I did want to get finance to purchase the franchise business but due to the fact I did not have extensive industry experience I found it difficult to find a lender that would finance the purchase of my business.
The training and support I receive from my franchisor
The training and support Mortgage Choice has provided, from mentoring programs to ongoing support from the franchisor, continues to be invaluable. Most surprisingly, it’s amazing to see how supportive other Mortgage Choice franchisees are. They are genuinely interested in supporting me and seeing my business grow.
The challenges I have faced
Without having a financial services background, I find maintaining such a high level of product knowledge and structuring of loans has been the hardest thing for me. It takes up a lot of my time but the pay off is I’m helping my customers to the best of my ability. Plus, I’m getting faster at it all the time.
Has becoming a franchisee changed your life, if so how
Yes, life is more flexible than it was as an employee. I work more but I’m in control.
My advice to someone thinking of buying their first franchise
Research the franchise model well and decide if it suits your needs and lifestyle. Then, talk to as many experienced franchisees as possible before making your final decision. Thirdly, be realistic about what you can achieve in the early days.
My plans for the future
Employ support staff or outsource my admin so I can focus on growing my business and helping many more customers.
Would you do it again?
Yes, without a doubt.
Request information on franchise ownership of
Mortgage Choice franchise