100 Franchises Open for Business! MoneyQuest Celebrates Significant Milestone

It is party time at MoneyQuest headquarters today as the burgeoning mortgage broking company announces that it now has 100 franchises open for business. MoneyQuest’s national network of brokers has grown exponentially since the business launched its franchise operation in 2016, and today, the head office team along with all MoneyQuest franchise owners and staff, celebrate reaching this significant milestone in the short space of five years.

MoneyQuest Managing Director Michael Russell is immensely proud of the business’s growth and rising productivity, and largely attributes the company’s success to its substantial investment in proprietary technology.

“We are delighted about reaching this significant milestone, as it highlights our rapid rate of growth,” Mr. Russell said.

“Recruiting, developing and retaining 100 productive, active franchises is no small feat. Our recent monthly submissions are sitting at around 400 million dollars, and this really validates our focused investment in proprietary technology.”

Mr. Russell is also thrilled that MoneyQuest has been particularly successful in recruiting former bankers and lenders, as well as loan consultants looking to become business owners themselves.

“Approximately 75% of our current franchise owners are ex-bankers or former stand-alone mortgage brokers or loan writers, and this highlights that our industry really needed a fresh, vibrant, tech driven franchisor. Our enterprise-wide CRM automates a life of loan communications journey to each and every client on behalf of their broker. This not only elevates repeat and referred business conversions, but allows brokers to focus solely on new business acquisition.”

Franchising Law specialist and former Franchise Council of Australia State Chapter President and board member, Veronica Jumeaux, underscored the significance of MoneyQuest’s milestone by explaining that it is rare for such a young franchise brand to grow so quickly.

“It is unusual in the Australian landscape for a brand to onboard such a high number of franchisees in such a short period of time. Generally speaking, the younger the franchisor, the smaller the franchisee network, but that certainly isn’t true of MoneyQuest,” Ms. Jumeaux said.

“Larger franchise systems do exist, such as McDonalds, Poolwerx and Subway, but there is a relatively low number of franchise systems in Australia that have more than 100 franchisees. Growing from 0 to 100 franchisees in 5 years is quite significant in my experience, and this exceptional track record speaks volumes about MoneyQuest’s onboarding process and the level of support that they provide to their franchise owners.”

Multi award-winning broker and MoneyQuest Penrith and Blue Mountains franchise owner, Peita Davies, also shared in the excitement of the occasion.

“It is a very exciting time to be a part of the MoneyQuest family. The company’s innovative technology, supportive culture and well-credentialed network of brokers is unrivalled, and I have no doubt that the brand will continue to grow and thrive for many years to come. 100 franchises is only the start for MQ. I am proud to be a part of their journey.”

MoneyQuest officially welcomed its 100th franchise owner – John Mavroudis, Principal of MoneyQuest Murrumbeena – to the team yesterday.

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