Brad and Kate Carroll knew what they wanted from a young age. The couple purchased their first real estate property at the ages of 18 and 19, and within 10 years they had renovated and sold four properties.
The business savvy pair put the profits they had gained through the property sales towards their first McDonald’s franchise.
“We financed the investment through our real estate projects – it enabled us to raise the capital required to purchase our first store in 2010,” Brad recalls.
“This also gave us insight into business transactions, whether it be the purchasing process or negotiating with contractors, that proved useful in our later venture into the franchise world.”
FROM TEENAGE EMLOYEE TO FRANCHISEE
Brad joined the McDonald’s brand as a crew member at the age of fourteen, and he developed a love and passion for the brand.
“I could see the opportunities that were available when my mentor at the time became a franchisee, and I saw my dream of following the same path as a realistic goal.
“McDonald’s was what I knew and loved and it made perfect sense to take it to the next level. Kate shared in my dream and we pursued it together as a team,” Brad says.
Unsurprisingly, the decision to invest in McDonald’s as opposed to another fast food or quick service restaurant (QSR) franchise was an easy one.
“Being involved in the McDonald’s brand from a young age, we really didn’t consider any other options,” explains Brad.
“We loved what we did, had a passion for the brand and didn’t look back. We enjoy being hands on and McDonald’s enables us to combine this with our passion for business.”
FOSTERING CAREER PROGRESSION
Brad was able to work his way up the ranks at McDonald’s thanks to the support afforded to him by the company’s Charlie Bell School of Management.
“It provided me with the basis for restaurant operations, as a junior manager, and has enabled me to run a restaurant as a restaurant manager handling profit, sales and people.
“This, combined with 10 years of working for an experienced licensee, has given me the skill set for community relations, brand building and business acumen,” he explains.
THE PERFECT PARTNERSHIP
The young couple brings different skill sets to the franchise, which makes them great business partners.
“Kate comes from a banking background and she has financial experience – she takes care of the administrative side of the business.
“Combine this with my operational background, and I believe we form a great team,” says Brad.
In addition, he believes a business will benefit when the skill sets of both partners are distributed effectively.
“Working with a partner provides the opportunity to discover each other’s strengths and to utilise them in order to positively impact the business.”
Brad admits juggling work and personal commitments can be a challenge, however at the same time combining the two can, in some instances, prove beneficial.
“Its something that has taken some time to master! We’ve set boundaries around work and home time and stick to a planner that we set out at the beginning of each month.
“Having our administration office at home allows us to work around family needs with two small children and another on the way, outside of conventional office hours.”
WHAT DOES THE FUTURE HOLD?
Brad and Kate are looking to expand their network of two stores, and they’ve established a number of other goals for the business.
“We want to maintain a high customer centric culture and to grow sales, our people and profit while maintaining exceptional quality, service, cleanliness and value (QSC&V),” Brad explains.
With a third child on the way, putting time aside for quality family time is also high on the couple’s agenda.
“Personally, our goals are to continue to run successful McDonald’s franchises and to ensure we achieve and maintain a healthy work/life balance.
“Being a McDonald’s franchisee gives us the flexibility to work around our priorities, such as attending school activities, which we may not necessarily be able to do otherwise,” he adds.