Aussie Home Loans is reaping the benefits of a rapidly expanding broker network that is exceeding all expectations.
The aggregator and franchise network’s CEO of distribution Brad Cramb spoke exclusively to Australian Broker about the company’s growth in FY21.
“True to the Aussie brand, we have thrived throughout the past 18 months, which has resulted in massive business growth and opportunity for our network,” Cramb said.
“Aussie has outperformed even the most optimistic forecasts for growth. Across the nation, Aussie opened 22 new stores since 1 July 2020. In a clear show of broker confidence, a further seven territories are in pipeline to open before the end of 2021.”
Cramb (pictured) said much of the growth is being driven by existing Aussie brokers having the confidence to invest or re-invest in their own businesses.
“In fact, 75% of new stores opened in the 2020/21 financial year were the result of existing franchisees expanding their territory and building multi-site businesses, or mobile brokers progressing through Aussie’s range of pathways to become franchisees.
“These are people who have leveraged the power of the Aussie business proposition, by taking advantage of everything Aussie has to offer.”
Cramb said the other 25% of new Aussie stores are new-to-industry franchisees, grasping the opportunity after being made redundant in other financial services roles or simply looking to jump into a new and thriving industry.
“When you are part of the Aussie family you gain access to a range of pathways through a multi-channel distribution model that empowers brokers with industry-leading training and development that continues well beyond accreditation.”
“We’ve implemented multimillion-dollar initiatives and incentives designed to drive growth. We enhanced our commission structure to ensure that our brokers are rewarded for hard work and are supported during the critical start-up phase.
“The Aussie Bloom program, launched during peak-COVID, is aimed at helping people from various backgrounds transition into a new broker business, receiving $1,000 a month for the first six months, putting them on the front foot.
Cramb said Aussie has invested heavily in the growth of its network with programs focused on helping franchisees build genuine scale businesses.
“We have attractive cash incentives for those wanting to open a new store, and equally we continue to invest and rewarded our loyal existing network with franchise renewal store refresh and refit incentives.
Cramb said the commitment to have more feet on the ground to service the growing home loan needs of customers is driving the growth in investment.
“Our ultimate goal is to ensure that any customer, anywhere can get the home loan help they need by talking to their local Aussie broker.”
Aussie FY21 recruitment by the numbers:
- 22 new stores across Australia
- 9 of the new stores opened are in NSW/ACT
- Aussie’s leading new store has settled over $63 million in first six months
- Doubled the number of store brokers recruited YOY
- Activated 201 Aussie Brokers
- 25 new stores under the Aussie NOW growth incentive - $30,000 store fit out contribution - equating to an investment of over $1 million in franchise growth and even more committed for Q1