Getting comfortable with a brand and its franchise opportunities is important before you buy into the business. Jake Rose had a bit of an advantage….Here Jake, who runs the Eagle Boys Whitsundays franchise, takes our Q&A.
 

1. When and why did you decide to buy a franchise?

In August 2011 I bought Eagle Boys Whitsundays. I wanted to have a better work/lifestyle balance and this opportunity allowed me to work for myself and provided a good opportunity for me to become more financially stable.

2. How did you go about researching the brand?

Prior to owning Eagle Boys Whitsundays I was a field support officer with the Eagle Boys support office. During my role there I learnt about the brand and the franchise opportunities.

3. What would you do differently in terms of the due diligence process, if anything?

The due diligence process in Eagle Boys is very thorough and most franchisees agree that it’s necessary. It’s a good cross check to ensure franchisees coming into Eagle Boys are financially stable and have done the research to take on the store.

I was fortunate, for what usually takes between six and eight weeks for new franchisees was cut short beccause of my experience.

4. What was the major reason for you choosing this brand?

Buying a store within the network is quite affordable compared to other brands – in particular, my store in the Whitsundays. The store had been company owned and required a new owner to give it direction immediately. Since I took over, the store’s sales have increased by more than 200 percent.

5. How did you fund your franchise investment?

I had finance set aside for a business investment such as this, so as soon as the opportunity arose I was able to secure the investment almost immediately.

6. What is the biggest lesson you’ve learned as a franchisee?

I’ve learnt the value of having good staff that take an interest in the business. It makes the day-to-day running of the business much more enjoyable and easier.

7. What has been the biggest challenge as a franchisee?

Working in this industry can be very repetitive through constantly making batches of dough, topping pizzas and handling customer enquiries. A big challenge is keeping staff motivated, which I’ve managed through giving staff incentives to reach targets. I’ve found setting benchmarks for staff to achieve has been a huge contributor to maintaining staff.

Another challenge can be lifestyle balance, which I’ve managed, again, by having good staff behind me.

8. What goals have you achieved since being a franchisee?

I’ve become more confident as a business owner, become financially independent and have enjoyed seeing staff gain more confidence in their ability.

9. What advice would you offer someone thinking of investing in a franchise business?

Be confident with the brand’s value, research the franchise and speak with franchisees already within the business. It can be as simple as spending a day with a current franchisee to decide whether the business suits you.

10. Would you invest in this brand again?

Yes, I would invest again with Eagle Boys and I will consider it in the future.