Following an exploration tour to the United States by a contingent of top performing Australian Poolwerx franchisees, the group now has expectations that more than 10 percent of local franchisees can achieve a turnover of more than $3 million within the next five years.
Australian COO Andrew Kidd, who initiated the trip, says 50 percent of its American network generated between $3 million and $8 million turnover and the visit proved the potential to reach a similar scale in Australia.
“This was an inaugural trip to leverage our power as an international brand and give our Australian franchise partners more insight into the enormity of the industry and how they can harness it,” he says.
“Our partners in the US are large and most have been in the industry for decades, prior to converting to Poolwerx, so they have an immense amount of business management skill to share and we wanted to tap into that expertise.
“The models and market might be slightly different between the two countries, but the underlying challenges and opportunities experienced as a business owner are very similar.”
Focus on strategic drivers
He says the franchise owners were able to see how a multi-million-dollar operation needs to be led and managed.
“They learned how staffing could be scaled and controlled. They realised decisions should be based on data not emotion, and that utilising our model’s proprietary financial systems to its full capacity is imperative to being able to achieve this. Overall, they took away how vital it was for them to focus on the strategic direction of the business, and accurately understand how to measure business profitability.”
Malcolm Price, owner of the Turramurra franchise in NSW, which is Poolwerx’ best performer, says the trip was invaluable in helping confirm his long-term business goals.
“Visiting our business in the US really broadened the lens at which I look at my business and gave me a moment to distil what is possible and what is important to me,” he says.
“This industry has been historically embedded in the perception that the owner has to be working on the day-to-day aspects of the business, but you need to follow more of a corporate culture to run a big business effectively. You must be focused on the strategic drivers to reach the $5 million to $10 million level.”
Price says he plans to hit $5 million in his business within the next two to three years.
Caption: The US tour offered business inspiration for Australian franchisees