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Top tips from award wining franchisees

Written on the 23 May 2011

Mark Maumill and Jason Love, the FCA 2008 National Franchisee of the Year and 2009 National Multi Unit Franchisees of the Year, know what it takes to be successful in business.

The dynamic duo operate ten Banjo’s Bakehouse Cafes’ in Tasmania, Victoria and Queensland plus three Mr Rental stores in Victoria and South Australia, with a further three set to open in the next 18 months.

Here Mark and Jason share their top tips on what makes them successful franchisees:

1. Have a strong financial model
: Be on a first name basis with your accountant. Not only can they guide you as you strive to reach your financial goals, they can help you plan for unexpected events that might put your business at risk.

2. Look for ways to improve your business:
Stay in touch with other franchisees and learn from their experiences. By comparing your business’s procedures and processes you can avoid costly mistakes, and adapt their successful systems and processes to improve your business.

3. Surround yourself with the right people: From your staff to your business partners, it’s important to create and preserve positive relationships that will benefit your business.

4. Keep your finger on the pulse: Keep up to date with the latest trends in business. Be on the lookout for new opportunities that can improve your business.

5. Be determined to succeed:
Stay focused and positive and don’t give up!

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