Pero looking at changing franchise model
Mike Pero Mortgages is looking at new ways of running its franchise business in order to more rapidly expand its operations and consolidate its position as New Zealand’s largest arranger of home loans.
Monday, August 15th 2005, 7:38AM
Chief executive Jeff Staniland says until now each Mike Pero franchise has been owner-operated, but that would not be the requirement in the future.
“We have got some other changes we are looking at making to our model … to encourage growth,” he says.
“Right now our franchises are what you call sole franchises – so only the owner can operate them, which of course has an implied limit to growth.”
At this stage, Staniland does not want to give further details of the way franchises could be operated, but he says the changes are being introduced now.
It was difficult to find people with the right skills to run the franchises, though there was always a lot of interest and inquiry from people wanting to try and run a mortgage-broking operation.
Those running a franchise need to be good at people relationships and have the ability to build trust, as well as having the integrity to deal with significant investments, he says.
Mike Pero continues to expand, with recent openings of regional franchisees including Queenstown, Nelson, Marlborough, New Plymouth and Palmerston North. The only real holes in national coverage by the brand was in the Rotorua district and in the deep south in Invercargill, which would be filled when the right people were found, he says.
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