Rodney Michail, the founder of Queensland based finance brokerage company 1800Approved aims to create as many as 100 new franchises within the next seven years.
Michail said the move has not been prompted by his desire to make more money, but to create an industry where people can work alongside one another and benefit from volume.
“This is about growing together. And this is indeed a volume-based industry so we can all benefit from each other. It’s important to offer a fair platform for franchisees to work from and not be greedy,” he said.
According to InsuranceBusiness, the company has secured the interest of a number of people, and franchises will open in locations across the country.
Franchisees would be involved in brokering finance, insurance and warranty products that are not limited to one individual market.
“We have aligned ourselves with an extensive panel of lenders and suppliers to allow franchisees the ability to grow across market if they choose,” said Michail.
The company has aligned itself with partners including:
Lenders:
- ANZ
- GE
- Liberty
- YMF
- Capital
- Macquarie
Insurers:
- Suncorp
- Avea
- Swann
- QBE
Michail established the company in 2008 when he was a prestige vehicle dealer.
He was unimpressed with the level of professionalism offered by brokers in his area and in many cases used the company’s services as an add on to get customers across the line.