How does a franchiser pick a good franchisee and is franchising for you? We take a closer look at Quest Serviced Apartments, whose chairman recently won an Ernst and Young Entrepreneur Award for Services.
For anyone who has aspirations to run their own business, franchising has long been considered a low-risk stepping-stone from employee to boss. It’s also a leap of faith.
For the business owner, franchising means placing their good name in your hands. For the franchisee, it’s taking a chance on a new way of life.
With 74 franchisees across more than 125 properties in Australia, New Zealand and Fiji, Quest Serviced Apartments has built its business on the franchising model. Quest franchisees come from all walks of life and some have made huge career changes to take on running a serviced apartment business. Among Australia’s Quest franchisees are former accountants, a nurse, a teacher, a chef and even a priest.
General manager of franchising, Nick Suriano, said the company’s investment into finding the right franchisees has been key to the success and growth of the business. “That really makes a difference: passionate, motivated people, implementing the best system,†he says.
Why franchising works? Read on…