Mr. X talks Franchise.

In the following section of the interview Mr X talks through how he easily put together a business franchise that he very successfully sold for just under $4,000 many, many times over:

 

This business – let me explain it… this business,  it involved information that was in the public domain and readily available.

 

This information had to be accessed each time a property was bought and sold anywhere in the country.  So you can understand that the market for this product was absolutely huge.

 

But because of the nature of the business it had to be logistically operated on a local basis.  And this is where the network of franchisees I put together was vitally important to the smooth running of the business.

 

As I said the information that was needed was readily available, and because it involved working alongside the legal profession the information had to be put together and presented in a very precise and consistent way.

 

All the legal forms and the software needed to run the business are included in the business package.  This helped simplify the process making it more profitable for the franchisees and by using all the information I supplied them on how to operate their business, earnings in the region of roundabout $3,500 to $4,000 a week were realistically achievable.

 

It was a very easy business for people to operate.  As I said, the business involved information that was in the public domain.

 

A lot of legal firms were committed to … let’s put it this way – as I said every time a property was bought or sold in the country this information had to be presented.  Now, that’s been done mainly over dozens of years … it had been carried out by the legal profession.

 

But, it’s something that they didn’t really want to do.  So they were quite happy to hand it over to an independent agent, who they could work with, who could collate all this information and give it to them, so that they could then present it to their customer (the person that they were handling the purchase or the sale of the property for) … their time was better spent doing other things, they didn’t want to send somebody off to get all this information, so that’s where my franchisees came into play.

 

They were quite happy, and it was very profitable for them to go off and collect this information.  They could do anywhere between four, five, ten of these a day and it wouldn’t take them (because of the software that I supplied them with) more than a few hours to put all this information together.

 

So, it was a very profitable business for relatively a small amount of work.

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