Buying a Franchise
Iridium Partners match the right people with the right opportunities
YOUR JOURNEY INTO BUSINESS (above) Aron Fuller – before and after (right) Ashika Pratap
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ron Fuller admits that a year ago, he was ‘completely green’ about franchising. ‘I understood the fundamental idea, but I’d never looked into how it worked – the costs, the fees, the contractual stuff. Now I am about to open my own Mexicali Fresh franchise in Christchurch!’ Aron had help with the process from two highly-experienced professionals, Nathan Bonney and Meredith Taylor from Iridium Partners. Nathan has over 19 years’ operational experience in franchising, with a passion for business development and helping individuals succeed. Meredith is a Human Resources professional with over 20 years’ experience of helping people into the right roles in all sorts of industries. ‘I’d been keeping my eye open for an opportunity, but didn’t have anything specific in mind,’ says Aron, who worked as a bar manager on his OE before a long career in sales. ‘But I love Mexican food and, when I saw that Mexicali Fresh were looking for a franchisee for Lincoln, I decided not to let it pass me by. I contacted Nathan and we got together, then he took me through the costs, fees, revenue projections, the whole thing, so that I had a clear understanding of the business.’ As part of the process, Iridium also arranged franchisee compatibility profiling to check that Aron would be a good fit as a franchisee and would have the skills and temperament required to run a busy restaurant. ‘I found that reassuring,’ says Aron. ‘It confirmed that I had a good shot at this and wouldn’t be wasting my money. And, just to be sure, they recommended a specialist franchise accountant so I would have independent verification.’
Making the match Nathan and Meredith say that Aron’s experience is quite common. ‘A lot of people don’t have much understanding of franchising or the sort of businesses that are available when they first contact us, so our first role is to understand what they are looking for and what their transferrable skills are,’ explains Meredith. ‘What have they done before, what do they enjoy doing away from work, what’s their family situation, what’s important to them? What are their passions and what are their fears? ‘Then there is suitability for franchising. Do they want a job or a business? Are they able to follow systems? They might enquire about a food business, but be more suited to home services – or vice versa. And even within the food sector, which franchise would best suit them? It’s a journey we take you on to help you find the business that is right for you.’ While Iridium represents some top brands directly, they are also happy to work with any credible franchise. ‘If a brand or category really appeals to someone, we will get details and help them through the process,’ says Nathan. ‘Good franchising isn’t about selling the most franchises – it’s about matching the right people with the right opportunities.’ franchise.co.nz – PUTTING PEOPLE IN BUSINESS
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A whole new world For Atinesh Kumar and his sister Ashika Pratap, meeting Iridium could turn out to be life-changing. Atinesh owns a security business, and when Ashika started looking for something of her own after almost 15 years of nursing, he thought he would invest with her and they opened an LJ’s franchise in Tauranga. ‘I’ve always enjoyed LJ’s fish and chips, so I emailed them one night and Nathan came back to me straight away. We arranged to meet the very next day. We had several sessions, learning more about the business and the costs, what makes a good franchisee and so on, and he arranged for us to meet the franchisor too. ‘The profiling process reassured Ashika that she had lots of transferrable skills from nursing management, and she has always enjoyed cooking, too. We opened in Bethlehem in September and it’s been going very well.’ So well, in fact, that Atinesh asked Iridium to find another franchise opportunity for him. ‘I have managers in my business, so I thought I could invest my time better. Nathan has found us a major opportunity to take over five Sal’s Pizza stores in Canterbury, with the option to open more. I love the South Island, so I’m planning to move there for training and to get the growth started. ‘Iridium are always professional, always helpful, always quick to respond. Nathan and Meredith are really lovely and know franchising inside out. I only met them in June and I’m already giving them more business – that says it all.’
Find something you love Nathan says, ‘We are a specialist company offering a very personal service. Because we know the market and we’re not affiliated to any of the large brokers or advisors, we can work with anyone, lawyers and accountants included. Our recruitment lens to franchise sales places a focus on putting the right people together on a project, which is very important for future success.’ Meredith sums up. ‘Buying a franchise is like dating – you have to meet the right people, then you have to work out if you’re right for each other. By using Iridium, you’ll be guided through the whole journey to find something you love, and something sustainable. Contact us to find out more.’
Advertiser Info Iridium Partners iridium.net.nz Contact Nathan Bonney M 0275 393 022 nathan@iridium.net.nz
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