Perth-based Abhi Upadhyay had forged a career in retail banking, home lending and small business banking before he became a business owner. It was an unexpected opportunity within home lending that led him, almost accidentally, to own a franchise.

When Abhi moved up to a management role with small business banking, he met an ANZ Mobile Lending franchisee operating locally.

“I had no idea this existed,” he admits. “So we started talking and found opportunities to help each other; it worked really well.”

When the franchisee offered Abhi a job it took a year for him to take the plunge.

“Working for a bank gives a sense of security, so I had a bit of hesitation. I decided to go for it and started working for him as a lending manager. We performed really well for a couple of years before he offered me to be a partner. I was not really planning this – maybe in the long run – but he spotted the opportunity before me,” Abhi says.

From employee to franchisee

From 2016 to 2020 the pair worked as franchise partners, although Abhi’s focus was on sales rather than the overall business. When the partner moved interstate for personal reasons, Abhi bought him out.

“Moving to a franchisee role, I got the seat at the table, but all the activities and responsibilities were the existing franchisee’s. 

“The real challenge came with taking on full ownership. I had a large loan to repay, and I needed to manage cashflow.”

Abhi says business building was his focus but admits the first 12 months were challenging.

“I learned a lot about the business, which with Covid and other challenges had scaled down from six people to just me and my admin. I had to rebuild the whole thing again.”

Luckily, bringing in an income was the easy part for Abhi.

“Day-to-day selling was never a problem and that’s the most important part,” he says. “You just have to put your head down and work really hard for the first three to four years. All the hard yards definitely paid off for me in the long term.”

Investing in people pays off

Six years on, his business in Success, WA, has grown to a team of nine, including four lending managers. 

“I had to realise the opportunity and take the punt on people,” Abhi says. “When the market is lively, invest in resources – invest in people. What I learned is, when the time is right, there is always hesitation because you don’t know the outcome, but you have to take the chance.

“I was able to find the right people, with the same mindset. They joined my team and helped me build. Investing in good people allows you to take a back seat and work on the business.”

He believes ANZ Mobile Lending is perfectly placed to meet the customer’s needs in today’s climate.

“We fill a gap in the market; we have the product and service and can provide it when the customer is available – it could be evenings or weekends,” he says.

ANZ brand brings huge benefits

From his days as an ANZ small business banker through to franchise ownership, the bank’s brand has always loomed large.

“You can’t discount the power of the logo on the jacket, and in the background all the tech and systems – this gives you advantages,” he says.

“We are always presenting this billion dollar brand but in my lifetime I could never match what ANZ has. That level of brand awareness brings huge benefits.”

Abhi appreciates the ability to interact with a tightknit community of franchisees, many of whom have been in their businesses between 10 and 25 years. 

As small business owners, they share a passion not just for home lending but for the brand.

“I’ve been working with this model for almost 12 years. It’s hard to know from outside how great this business and system is,” he says. “For me, it wasn’t a question of ‘do I want it?’, but ‘am I really getting this opportunity?’”.

Working to a common goal

Abhi sees a bright future, with ANZ investing into the mobile lending channel.

“It’s very promising, it gives us the confidence to invest further, to achieve an optimum team size without layers of management.”

As he looks to the next couple of years, Abhi is confident in growth, and excited about the options ahead.

“I could stay the size we are or leap into the next phase, taking on office managers and maybe part time marketing. That’s a whole new level of expertise required.

“Right now I’m extremely busy supporting my team and I’m always mindful, growth is not always about putting someone on a chair. This is a team working to a common goal, and enjoying what they do and feeling supported is most important. If I can’t deliver that, then there’s no point.  

“I feel very privileged and honoured that I was there to be part of this model, it’s just amazing. No other Australian banks have this model. ANZ Mobile Lending is unique. I’m so fortunate to do what I love,” Abhi says.