Think long-term when looking for a business for sale
When looking for a franchise business for sale, prospective franchisees may not think to look beyond the excitement and enthusiasm of starting their own business. However, a comprehensive business plan should also include planning for the various phases that you would go through as a business, including succession planning. We talk to Sam Boer, CEO of Smartline Personal Mortgage Advisors, about the culture that Smartline has fostered within their organisation, which extends to providing advice and support to all of their franchisees at each stage of their business’s lifecycle. Smartline Personal Mortgage Advisors is a national mortgage-broking business. Not constrained by a geographic model, Smartline franchisees have the ability to operate Australia wide.
Buying into a franchise business for sale differs from starting your own business in that you are joining a team – you don’t need to go it alone – and this is something that Smartline is keenly aware of. We have worked hard over the years to create and nurture our culture, the sense of belonging and family environment that we pride ourselves on. Indeed, having an inclusive team culture is such an important part of being a successful franchise as it underpins the basic concept of franchising; the partnership between individual business owners and their support team at head office. Each one of our franchisees have different reasons for being where they are and what they do. We take the time to understand who they are, their motivations, and what their goals are so that we can help them achieve success, whatever that may be to them.
For any prospective franchisee looking at a business for sale, do your due diligence. Be clear on the reasons why you want to join a franchise, and what you want to achieve as a business operator. I would even encourage prospective franchisees to look at it from the point of view of the term of franchise agreement - how are you going to go through the various phases of the business lifecycle and how will you eventually exit the business? At Smartline, this is something we discuss with all of our franchisees whether they are newly coming into the business, going through a growth phase, going through a maturity phase, or transitioning out of their business, so that we can support them at each stage of their journey. Having a plan for each of these stages will help any prospective franchisee looking at a business for sale in achieving what they want out of the business.
When we help our franchisees in each stage of their business journey, Smartline franchisees in turn can focus on helping their clients through their life journey. Uncommon among the industry, Smartline doesn’t run a geographic model. While we have been traditionally strong in Western Australia, our brokers can operate from anywhere as long as they are passionate about servicing their clients’ needs, and this is supported by our service-based, customer-focused culture that we foster. Whether you are looking for a franchise business for sale in Perth, Sydney, or anywhere else, make sure that you take a long-term view in your plans, and that the franchise operates in a culture which supports you in each stage of the way.
Smartline is taking on board franchisees across the country, and are actively recruiting those looking for a business for sale in Sydney, Melbourne, Brisbane, and Canberra, as well as other regional centres across the east coast of Australia.
Sam Boer is the CEO of Smartline.