Why new brokers need a different franchise business model

Being a broker is a great way to balance work with your other commitments. Using the right business model, it can also be a lucrative way to earn money, with a six-figure income a reality for the most successful brokers. However, around 50 per cent of new brokers fail within their 18 months because they don't adopt a business...

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Can you use an SMSF loan to finance commercial property?

Using your SMSF to buy commercial property is possible, and so is getting a lender to agree to a loan. There are a number of benefits to using an SMSF to purchase commercial property, as long as investment decisions are made wisely, and rules around SMSF investment are properly followed.  How do SMSF loans for commercial property work? The key thing to remember...

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Why you should have a mentor when starting your mortgage broker franchise

Taking the first steps into running a mortgage broker franchise can throw up many questions. While you can do plenty of research before you begin, having someone on hand to answer your queries as they arise and draw on their own experience is really valuable. As well as addressing your concerns, a mentor can save you time...

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What you need to do before you start trading as a mortgage broker

When you start a new business, there are a number of steps necessary before you can open the doors. Running a mortgage broking franchise requires qualifications, a suitable place to meet clients and an effective marketing strategy so you can grow and nurture your leads. Qualifications Before you can start operating your finance franchise, you need to...

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Why mortgage franchises benefit from good business software

Even the most savvy of mortgage brokers can't manage every aspect of their business alone. At Red Rock, we offer our franchisees tried and tested software packages as part of the deal. We know that good systems help to make a business effective and efficient. Why do mortgage broker franchises need good software? Customer service Let's face it,...

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How to boost sales in your mortgage franchise

As a mortgage broker franchisee, you're not only responsible for writing loans. It's down to you to get the sales and marketing right too. If you don't have any experience in sales this can be a daunting task. To grow your mortgage franchise you need to increase sales, so you need to get good at...

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Minimising your costs when starting a franchise

Starting a new business comes with initial setup costs. Even when joining a franchise like Red Rock where training, software and many other set-up items are provided, there are some purchases you'll still need to account for. However, there are ways to minimise these expenses so you can start generating profit quickly. 1. Find cost-effective office...

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3 questions to ask before you buy into a mortgage broker franchise

Buying into a mortgage broker franchise is a great option for anyone wanting to start their own business, but with limited investment power or a lack of experience. A franchise owner will know how to get new finance brokers started quickly, and will usually offer training, software, and marketing support as part of the package. As...

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