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When broker and experienced small business owner Alex Hamid was looking for his next business opportunity, he was drawn to the flexibility, autonomy and low overheads of the Mortgage Choice business model.
Alex Hamid is no stranger to running small businesses. Over the years he has owned and sold a hairdressing salon, a retail app and a Sydney café that was profitable until the pandemic lockdowns made him rethink his career in the service industry.
Having recently completed his MBA at the Australian Institute of Management, Alex knew exactly what he was looking for in his next small business.
“I didn’t want another bricks and mortar business where you have to spend a lot of capital on a shopfront to attract customers,” Alex said. “And in hospitality there are too many moving parts that are out of your control. I wanted to find a business model I could scale up and that would allow me to work anywhere in Australia without being locked into a certain premises.”
Alex worked as a mortgage associate for a mortgage broking aggregator while he was deciding on his next move. His sales experience made it easy for him to connect with clients and he realised that mortgage broking was a good match for his skillset. But being in a salaried position didn’t provide him with the opportunities he was looking for. When Alex discovered the Mortgage Choice franchise model, he felt the flexibility and autonomy was the perfect fit for his next business venture.
“I liked the fact that you can establish and grow your business on your own, or with just one employee,” he said. “Not many businesses are like that. And depending on the type of business you decide to set up, your overheads can be a lot lower compared to other business models.”
Alex completed his mortgage broking qualifications and Mortgage Choice induction in mid-2023. He appreciated the hands-on training and support he received while he was learning the Mortgage Choice systems and setting up his business processes. Mortgage Choice doesn’t require brokers to have a shopfront or dedicated office, so as Alex starts out and builds his business, he is keeping his overheads low by working from home.
While he was getting started, Alex trialled different methods to generate leads and revenue before landing on several strategies that are now working well for him.
Alex said, “Once you find the right way of generating leads consistently, that’s when you can start to scale up. That's when the fun begins.”
While all new businesses can take a while to get going, Alex has found the strength of the Mortgage Choice brand to be a valuable asset whenever he calls or meets with potential clients.
“As soon as I tell them I'm calling from Mortgage Choice, they're happy to discuss their situation in more detail,” he said. “Having that big brand behind you definitely gives you a good boost, especially if you're just starting out.”
Now that his business is growing, Alex is making plans for the future. His first step will be outsourcing some administration tasks so he can concentrate more on the sales side of the business. He will also continue to lean on the Mortgage Choice network of brokers and mentors for tips about the best way to build his lead pipeline. Alex has found the Mortgage Choice community to be a great source of help whenever he needs a second opinion or a motivation boost.
He said, “Sometimes you might feel stuck or stressed about what to do next. Having that support and community behind you can really lift you up.”
For anyone looking for their next business opportunity – whether they’re a seasoned small business owner or a first timer – Alex recommends looking into the Mortgage Choice franchise model. He believes the flexibility and support on offer puts Mortgage Choice ahead of the rest.
“If you're passionate about having autonomy and building an asset that you can scale up, a Mortgage Choice franchise is definitely one of the best business models,” Alex said. “With the option to keep your overheads low, you can make a good income as long as your processes and system are set up properly – even if you’re working completely by yourself.”
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