The cream of the franchise world reveal their top tips for success
The cream of the franchise world reveal their top tips for successFrom McDonald’s and KFC to Hilton Hotels and H&R Block, the franchise system has been tried and tested in various sectors of the business arena. And mortgage broking is no exception, with some of the industry’s most recognisable brands being those of the nation’s major franchise organisations.
In recognition of the role that franchises play within the world of Australian mortgage broking, MPA has once again compiled its annual list of the country’s Top 10 Franchise Brokerages. While the franchise route isn’t for everyone, this year’s crop of outstanding franchise brokerages have truly made the most of the branding and back office support that their parent group offers.
To compile this year’s hall of fame, Australian mortgage broking franchise operators were invited to nominate their top performers to be ranked and scored on several key criteria – explained in the methodology box.
The competition was open to both franchise operations and organisations that would be better described as ‘branded aggregators’ who require or license brokers to use a national brand but are more flexible in approach than ‘true’ franchise models. The idea was to make sure that all of the Australia’s most recognisable national mortgage brands were given the opportunity to nominate their star performers.
You may or may not have taken the franchise or branded aggregator route yourself, but the achievements of this year’s crop of talented broking operators speak for themselves – and the insights that can be gained from 2014’s high flyers should provide inspiration for franchise and independent brokers alike.
METHODOLOGY
MPA approached Australia’s franchise groups and branded aggregators and offered them the chance to nominate up to five brokerages to take part in the Top 10 and be ranked according to the following criteria:
- Total loan book value
- 2013 settlements
- Average volume per broker/loan writer
- Conversion rate
Each brokerage was given a score for each of the four criteria according to its rank. For example, the lowest ranking brokerage in any given category gained the lowest score of one point, the second lowest ranking brokerage in any category gained the second lowest score of two, and so on. Consequently, the highest ranking brokerage in any category was awarded the highest number of points for that category.
Once this ranking and scoring process was carried out for each of the four criteria, the overall scores for each brokerage were added up to create the total score for each of this year’s nominees. The brokerages were then ranked according to their total scores, with the businesses that took the top 10 spots appearing in the report.
| Rank | Brokerage |
|---|---|
| 1 | Mortgage Choice Glenelg East |
| 2 | Mortgage Choice Brisbane |
| 3 | Mortgage Choice Perth |
| 4 | Mortgage Choice Melbourne |
| 5 | Choice Home Loans Leederville |
| 6 | LJ Hooker Home Loans ACT & Southern NSW |
| 7 | Mortgage Choice Cheltenham |
| 8 | Loan Market Manningham |
| 9 | LJ Hooker Home Loans Eastern Suburbs |
| =10 | The Mortgage Gallery Dunsborough |
| =10 | Loan Market Oakleigh |
