RetireInvest is embarking on a concerted push into the WA market with 11 franchises scheduled for roll out in the next year.
WA state manager Kevin Canning says the group is looking to triple the number of RetireInvest planners operating in and outside of Perth.
“We only had one RetireInvest franchise in WA in 1997. Now we have six franchises operating and are about to open one in the Perth CBD on Thursday,” he says.
“Now is a good time to be expanding the franchise numbers in WA as it is relatively untapped compared to the east of Australia. In the west, it’s a good opportunity to get in on the ground floor.”
RetireInvest has a raft of other offices to be franchised later in the year, with four more scheduled in Perth, one in popular retirement area Mandurah, with the remaining five earmarked for franchising in areas within five or six hours of Perth, such as Kalgoorlie.
Canning says each new franchise brings about 40 good clients a year, and most new clients are now coming in from referrals. This marks a change from five years ago when not many people in WA recognised the RetireInvest brand.
RetireInvest general manager David Phelan says that since RetireInvest began franchising its business over 10 years ago, clients have benefited as well as the franchisees from the higher, more personalised level of dedication that comes from a business owner.
“Clients have benefited from the franchising in that the person running their own business will be developing a real sense of service culture as opposed to the situation where clients would be dealing with an employee of a larger company,” he says.
He says that the close co-operation between the franchisees and the franchisor (RetireInvest) has also meant that the franchisees have benefited from the provision of “extensive technical, business management, marketing and client services support”.
The franchisee runs their own localised and demographically based business while also having access to reliable investment, technical and economic research crucial to the success of their respective businesses.
“Although constant training and compliance require a great commitment from both ourselves and the proprietor, the client receives the end benefit of knowing that they are dealing with someone who has a strong personal commitment to looking after them,” Phelan says.
Phelan attributes the success of the RetireInvest franchise system to the ability to differentiate between the investment needs of various generations; from the lower-risk investments of retirees to the more flexible, change embracing investments of the baby-boomers.
