PoolWerx launches company guaranteed franchise entry system
Multi award winning Pool and Spa care franchise Poolwerx has launched a new program designed to increase the number of motivated and capable younger entrepreneurs entering the business.
Called "Manage 2 Own" the program is targeted at potential franchisees that are not in the perfect financial position to join the PoolWerx business, but who exceed all of the company's other entry requirements.
PoolWerx already has one successful applicant in the system, Franchise Manager, Scott Cummins located in Kotara (Newcastle).
PoolWerx Founder and CEO John O'Brien said Manage 2 Own was one example of how PoolWerx was growing despite economic conditions.
"We're always looking for ways to grow the business, no matter what is happening in the industry or the economy generally", he said. "We were frustrated to see so many fantastic young prospects not enter our system, mostly due to financing issues, so we resolved to fix the problem ourselves."
The program works by PoolWerx covering the start up costs and base salary for the recruit, with a three year, staged profit share arrangement that builds equity for the franchise manager.
Mr O'Brien said the program also removed some of the perceived risk factors associated with entering a franchise.
"We've effectively created a model which provides a greater level of comfort for new franchisees because they are paid a base salary while working towards the ownership of their PoolWerx business."
"We wear a lot of the risk on the franchisees' behalf, that's how confident we are in our business model."
Mr O'Brien said the new system was part of an overall growth strategy.
"We plan to expand into 100 more franchise areas in the short to medium term and we expect at least half of these could be via Manage 2 Own candidates."
"We are committed to being the dominant market leader in three years as we work towards a $300 million turnover and we know Manage 2 Own will be a significant part of this growth.
Mr O'Brien said other franchisors could implement similar systems.
"Franchisors need to back their business model if they really believe in it; it's the best way to show potential new franchisees you have total confidence in the product you're selling them."
Narellan Pools has announced a partnership with North America's largest pool company, Latham...
Want to win over the most difficult customers? Join the Communications in Action workshop,...
Spinal cord injury recovery organisation The Next Step has opened a brand new wellness hub,...