Imagine this. You are one of the worldÍs finest cricketers and one day you walk away from the stumps for the last time. If you have always been good at sport, what happens when the bat and ball are no longer your daily focus?
For some the answer is still sport in the guise of commentating or full time coaching. For the recently retired Stuart MacGill the answer is presenting a food and wine program. Michael Bevan chose mortgages.
Unlikely as it might sound, AustraliaÍs one-day cricket star has always been interested in the two elements that make up a mortgage business: finance and property. So when he was approached to get involved with a mortgage set up there was an obvious synergy.
ñI received an offer to partner in MBMs; itÍs a New Zealand-based mortgage broking franchise. My partners are Stu Beadle and Adam Parore. It was a case of, did I like the system and what theyÍre trying to achieve, their leadership and style? It was something I was really comfortable with.
ñI guess establishing and owning a business really appealed to me. When I gave up professional cricket 18 months ago it was something I looked into. I had always looked at the concept but it was working out how to start.î
The business had been established under a different moniker for two years in New Zealand; setting up in Australia was a case of re-badging the brand to use his name. But it was more than that _ Bevan wanted to have a real role with the business.
ñI really felt I could go down the franchise road. Because I wanted to get into my own business and I wanted the help of the company in establishing it. For me the franchising sector is a medium that people can set up by themselves with help or guidance.
ñFrom a business owning perspective it gives the chance to create a good system. ItÍs like any industry, some people are good, some are not so good at it. I like to become good at whatever I do; the challenge is to offer our product and system to help franchisees achieve what they want to achieve.
ñI had to consider, could I add a bit of value? IÍve been lucky, IÍve been part of great teams and as a high performing athlete, I have coaching and training expertise. My role is to mentor and develop the system so franchisees can become independent leaders. We play to my strengths.î
It is important franchisees feel comfortable with the industry theyÍve chosen, he says, that theyÍve done due diligence. Then it affords a great opportunity.
While the natural interest Bevan has in the market can be matched with an existing system perhaps his timing has been unfortunate. Is the mortgage market really going to do well over the next 12 months? IsnÍt this the worst time to be expanding a mortgage business?
ñThere is a kind of constancy in a state of flux as there is with real estate and mortgages,î he answers. ñExternal factors, rules, regulations, politics and social issues, they do affect industry cycles. The mortgage industry is in one of those cycles.î He is not predicting great things immediately but is clear about the target.
ñWeÍve always been pretty straight _ we want 150 franchisees in five years, but above this the major goal is to become the industry leader in revenue and through service. There may be times when growth is slow, times when itÍs quick.
ñThe biggest challenge in what you do is in not knowing if it will work.î
He talks like a successful sportsman used to analysing his performance; he speaks of ñfacing the future, overcoming your fears, to push through to the core reasons for successî.
While Bevan, who looks quite comfortable suited up, may be on the celebrity speakersÍ circuit, and invited, with his dog Toto, on Channel TenÍs ïCelebrity Dog SchoolÍ, he claims a natural reticence towards publicity. The real enjoyment with the mortgage company, he says, is derived from his behind-the-scenes analysis.
ñIn terms of MBM, there are things I enjoy doing _ I like the analytical strategy of business, plotting the direction. Setting up rules, regulations and admin was a big challenge.
ñMaking sure we continue to improve the system is so important. Franchisees are coming in with expectations, and you have to manage them and help them achieve those expectations. WeÍve got a pretty good system. We have trainers and weÍre building a master franchisee model, so training becomes their role. My role is the system.
ñIÍve always been understated,î he admits. But he is keen to develop his skills in the marketing, sales and advertising of a system he is proud to be associated with.
ñI want to be good at those aspects; making people aware of what we offer. IÍd like to pour more energy into it. For me itÍs about aligning product to my personality, being reliable, dependable, safety aware, characteristics I showed as a player. This is key for me. It wouldnÍt make sense to do it any other way, it wouldnÍt be enjoyable.
ñThis affects me, it affects my name. We say what weÍre going to do and we have to provide what we say. My name has been good for gaining a pr position but we also provide a good service.î
So letÍs take a look at the business so far. It launched in May last year. After three months a master franchise set-up was established and the first one was secured in the Wollongong region. Plans are for state and major region master franchises to effect a more efficient structure.
ñOur business model is based on income streams. Brokers can generate one stream from mortgages and one from introducing new franchisees _ they get a percentage of the commission and trail,î explains Bevan.
He sees the opportunity for franchisees to build a career path. The challenge after three to four years will be to help them build their business further.
Key franchisees need a combination of skills _ experience in sales and an interest in the mortgage industry, and attributes _ motivation, drive, confidence. Bevan insists they can learn the relevant strategies.
ñI really enjoyed the entry into MBM,î he says of his launch into the business world.
ñYouÍve got to be mindful that you need time to spend with the family _ I didnÍt do it much when I was playing cricket so thatÍs a major focus now. In work terms, IÍve really enjoyed it.î
Not that franchising is his sole interest. Cricket still plays a part in his life as he heads up the coaching team of the Chennai Superstars in India. And he is launching another business this spring. MB Business Performance has three arms: business coaching, recruiting as well as health and well-being (providing health and fitness advice).
ñThis mirrors concepts I lived through in my career. It involves a psychologist, recruitment as well as health and fitness experts, and focuses on turning employees into achievers. The premise is to allow people to understand how business coaching can help.
ñWeÍll look into franchising down the track, just now we want to establish it.în