A word from Aussie
We know that brokers wear many hats – broker, marketer, business manager, all at once.
We also know that brokers have a lot to navigate as the lending landscape and customer expectations continually evolve. Therefore, it’s important for us to be able to provide brokers with high-quality support and scalable systems so they can enhance efficiency, boost productivity, and ultimately growth in their businesses.
Ultimately, we see our franchise system as the vehicle to helping brokers expand their operation and become CEO of their own businesses.
For many mortgage and finance brokers, business has never been better. The third-party channel now boasts a record-breaking market share, responsible for almost three in every four (74.6 per cent) home loans written, according to September 2024 figures from the Mortgage & Finance Association of Australia (MFAA).
With the anticipation of rate cuts before the end of the year and healthy competition between lenders, many brokers are gearing up for a big 2025.
But there comes a point when a broker may feel as though they’ve exhausted every opportunity in their immediate vicinity. Equally, their business might be going gangbusters and they want to make the most of the golden opportunity to enter a new market.
When this is the case, expansion is often the next logical step and it can be a good option for brokers who want to finally step away from the tools and start looking at building and running their business instead.
But what about those who want to continue loan writing while running a growing brokerage?
For some brokers, bringing in a head of operations or general manager to take over all the business growth and strategy is the key to expanding sustainably. Having a dedicated resource who can look after business development, hiring, training, and lead generation means the brokers can focus on converting and settling leads, all while delivering excellent customer service.
For others, offloading some of the administration of broking to a centralised team so they can focus on the business expansion is the way forward.
Aaron Hockey, general manager, network development at Aussie’s parent company, Lendi Group, says there’s a key difference between being a broker and being a business leader.
“Transitioning from writing loans to managing a team and scaling operations requires a different skill set,” he says.
Seizing the moment
Aussie franchisees Phil Gallagher and Nick Jones are two brokers who have focused on expanding their business. To do this, they leveraged the success of an existing business to target new opportunities.
The brokers have worked together for some time, operating Aussie Belmont in NSW’s Lake Macquarie region.
Gallagher launched the business in 2009, with Jones joining as a store broker almost 10 years ago, before eventually becoming a franchise partner in 2018.
During this period, Aussie Belmont became the number one Aussie retail store in NSW, encouraging the duo to explore opportunities in new markets.
Their first expansion move was interstate, purchasing the existing franchise Aussie Elanora on the Gold Coast in 2023.
They repeated the expansion in 2024, this time cutting the ribbon on a new greenfield store in Newcastle, Aussie The Junction.
“Newcastle is experiencing strong momentum, and we wanted to be part of that,” Gallagher says.
“The expansion into the Gold Coast was more opportunistic, aligning perfectly with the market’s growth trajectory and the availability of a great store location in Elanora.
“The region’s ongoing development – such as infrastructure projects and priority growth areas – underscored the potential for serving a growing customer base.”
Setting up shop
Launching expansion plans is one thing, but sticking the landing is what really counts.
Once an opportunity presents itself, a significant amount of work is required to set up shop in a new market – no easy task for brokers who already have existing clients to service.
“Coordinating multiple projects simultaneously was a huge challenge,” Gallagher says.
Managing tasks such as recruitment, fitouts, and lease negotiations with ongoing business became a test of endurance and organisation for Gallagher and Jones and both brokers were grateful for the support they received under Aussie’s franchisee model.
“Aussie’s hands-on support was instrumental in making our expansion possible,” Gallagher says.
“They guided us through lease negotiations, store fit-outs, recruitment and business planning.”
Hockey says Aussie is intent on helping brokers and franchisees build bigger, more efficient businesses.
“Aussie franchisees around the country are leveraging our reputable brand and high-touch support model to expand their operation,” Hockey says.
“Close to 30 per cent of our franchise network are multi-site operators, and we’re confident that more franchisees in the network will continue leveraging our model to build scale by growing their teams and expanding their footprints.”
Balancing act
For Hockey, Gallagher and Jones’ success illustrates the strengths of a franchise model that empowers brokers to function as business leaders and avoid being bogged down in the minutia of day-to-day tasks.
Hockey says many Aussie franchisees have been able to expand their business into multi-site operations.
“We’ve designed our franchise model to help brokers evolve into the CEO of their business, allowing franchisees to focus their efforts toward working on their business, not just in it,” Hockey says.
“Our recruitment and onboarding support helps franchisees build high-performing teams. Combined with ongoing training, these services empower franchisees to lead thriving businesses.”
Perfect timing
In many ways, expansion is a delicate balancing act between seizing a new opportunity while making sure existing clients continue to receive the level of service that put the brokerage in a position to expand in the first place.
Leverage the support systems your franchisor offers. Aussie’s platform and hands-on support made all the difference for us
Phil Gallagher, Aussie
As such, knowing when to expand might be the most important thing to get right.
“Timing is everything,” Hockey says.
“Expanding too early can strain profitability, while waiting too long might result in getting stuck in day-to-day operations, leaving no time to scale effectively.”
As Hockey says, the benefits of a successful expansion go far beyond an additional stream of revenue to be added to the brokerage’s bottom line.
“Expanding allows brokers to build scale – moving from trading their own time for income to having a team generating revenue collectively,” Hockey says.
“It’s an opportunity to foster a positive workplace culture, develop team members, and support their professional growth and aspirations of the people around them.
“Expansion can [also] significantly enhance profitability when done correctly, enabling brokers to unlock their business’s full potential.”
Gallagher encourages brokers who’ve recognised it’s time to expand – and done their homework – to strike while the iron is hot rather than letting an opportunity slip through their fingers.
“Don’t hesitate – there’s immense opportunity in mortgage broking for those who are committed to excellent customer service and hard work,” he says.
“Leverage the support systems your franchisor offers. Aussie’s platform and hands-on support made all the difference for us.”
