Becoming a franchisee is a profession alternative very few school leavers think about. For those who take the leap young,
it can be the making of their monetary future. When Brad Fretwell left school aged 14 in 2002, he didn’t have a profession plan.After an incorrect turn in structure Brad discovered himself in the house doing not much at all.Little did he understand that quickly after his 21st birthday he ‘d be a franchise owner.Brad, who is now 31, and his wife Freya, 27, are proud to have gone from high school dropouts to the youngest-ever Bakers Pleasure franchise owners at the time.
The beginning point was when Brad’s mom put her foot down and stated the 14-year-old had to get a task and begin paying board. She reached addressing an ad for a job at Baker’s Pleasure. “She discovered the task in the paper and informed me to go to the interview,” he says.
It was the start of a journey that led him to complete a baking apprenticeship and eventually purchase the Milford franchise.In the late 2000s the bakery wasn’t being handled in addition to it could have been as the franchisee had actually lost interest, Brad says. “They turned around and asked me if I desired to buy it.”
He confesses that although he had actually believed he might buy business one day he was way more interested in automobiles and his then sweetheart Freya, who had actually started working for business part-time while still at Westlake Girls High School.
“The majority of people state [their relationships] were love at very first sight,” says Freya. “With us it was love at Bakers Delight.”
Brad had cost savings to cover half the purchase cost, however was also assisted by his mom, who although not rich was able to help by ensuring a bank loan. “I was only 21 and the bank wasn’t going to offer me the cash on my own,” he says.The costs of purchasing into an existing bakeshop begins at about $200,000 depending upon a number of elements such as area, design and equipment requirements, whereas investing a brand-new bakery would cost more than $400,000.
Brad had to complete 16 weeks of training to learn how to run the company and then became a fully-fledged franchise owner.
“It was extremely scary,” he says. “It was the scariest thing that has occurred to me. When I believed about it and processed it I thought ‘you can do this’. At the time I was the youngest franchisee in New Zealand.”
The previous Ten Years have proved it to be the ideal choice. Initially becoming a franchisee suggested he worked a lot longer hours, starting around 2am till 6pm or 7pm until he could train staff to replace him on the ovens. Freya worked full-time in the shop.Managing the 15
complete and part-time personnel was challenging for the couple in the beginning since the staff were their friends. Brad was identified to make a difference and pull the franchise out of the doldrums. In the first few years the turnover more than doubled, in part because they knew the system and knew what the previous franchisee might have done better. The effort paid off. The couple now make 2.5
to three times more than as workers, although much of the returns are pumped back into the business.The renewal of the store has actually been so effective that Bakers Pleasure
Milford has become a training franchise for brand-new owners. The couple, who had their first child this year, expect eventually buying another franchise and building it up.There is a wide variety of franchised organisations in New Zealand. Numerous are in food or retail-related businesses and the trades. In every field there are employees who have actually advanced to franchise ownership. Tereza Murray, NumberWorks ‘nWords, commercial company manager, states about 45 percent of her franchisees began as employees.Not all have a teaching background. Franchisees from other backgrounds can be successful providing they are passionate about helping kids reach their prospective and have terrific interaction abilities, states Murray. Rodney Wayne Bethlehem franchisee Ashley Sterrenburg knew she wished to be an entrepreneur from when she started her working life as a 15-year-old apprentice. “That”I wasn’t the stylist
who desired to be going into awards. My thing was organisation.”Sterrenburg worked her way through a variety of beauty parlors up until she found herself employed at the Rodney Wayne franchise in Auckland’s Glenfield 9 years earlier. The distinction, she states, with previous salons was that she received ongoing training in cutting and colour technique and chances to find out about management.”There were many different opportunities readily available through Rodney Wayne,”she says.Sterrenburg then moved with her kids to the Bay of Plenty to be nearer family and took a job at Rodney Wayne Bethlehem. When the chance to purchase the hair salon for exactly what she explains as the price of a house, she leapt at the chance. “A house is not within my grasp rather yet. Buying an organisation felt better.”To finance the purchase and for support, Sterrenburg teamed up with Stuart Macmillan, her previous employer from Glenfield, who assisted with capital, administration and management. She explains that although owning more than one Rodney Wayne beauty parlor, Macmillan isn’t a qualified hair stylist. It reveals, she says, that there is another path into franchise ownership than
up through the ranks. Moving from hair stylist to franchisee seemed like a whirlwind, Sterrenburg says. As franchisee she is on the floor hairdressing just 2 days a week, compared with five days previously. The other three days are spent efficiency handling the team and administering business. Like the Fretwells she is focusing on developing capital in the service.”I only take out what I have to endure. Ultimately I wish to expand and own more than one website.”