20 Jun 2019
Words Ben Hall
HOW TO SECURE A BUSINESS OR INVESTMENT OPPORTUNITY WITH QUEST
If you’ve ever thought of running your own business, and the idea of taking on a luxury accommodation property is appealing, then now is the time to look at partnering with Quest Apartment Hotels.
You can find out how to achieve your business dream at our Quest Franchising Insights Seminar held in Canberra on Tuesday 25 June.
This seminar will take you through how the Quest Business Model works and what you need to do to secure a deal with Quest. Our expert panel will also be available to answer any questions you may have on the night.
Along with ResortBrokers’ National Quest Apartment Hotels Specialist, Liz Galea, you can tap into the deep knowledge of Holmans Accounting and Taxation and Mike Phipps Finance.
Ahead of the Seminar, Liz Galea tackles five of the most commonly asked questions about a Quest franchise:
Q: I don’t have any experience in the accommodation or hospitality industry, will that count against me?
Many of the new franchisees don’t have an accommodation background. That’s the benefit of Quest - the training, support, processes and systems are all provided for you! Quest genuinely believes its people are the key to its success. They value the franchisees who live in the towns and cities where their accommodations are based, who get to know their customers, build relationships with them and make their lives away from home as easy as possible.
Q: Why would I want to take on a Quest franchise … what’s in it for me?
The opportunity to grow your wealth. Quest Apartment Hotels operate under a unique model where franchisees purchase long-term leases and trade under the powerful Quest brand. As Australasia’s largest serviced apartment operator, Quest has created a brand that business travellers have come to rely on for more than 30 years. If you take on a franchise, you become an integral part of that. At the seminar we’ll also look at opportunities for passive investors to go into partnership with active operators.
Q: Will I receive any training or mentoring if I take on a franchise?
Yes. Prior to settlement, each new franchisee needs to complete an intensive six-week training program. There is then onsite support after settlement and ongoing from a franchise relationship manager. Quest has created a business model that takes away some of the major challenges to achieving success in small business.
Q: What costs will be involved, and what sort of returns can I expect?
Quest franchises sell at around a four times net profit. This can vary depending on other factors including tenure. There is an Application fee with Quest and prior to training, an Initial Franchise Fee is payable.
Q: Can you talk me through the steps that I need to take to start the ball rolling on taking on a franchise?
Talk to me about your requirements, budget, location and anything else you need. I can then introduce you to the Quest establishment team to start your approval process and assist you in finding the right business for you. This is a good time to be talking to a finance broker who specialises in Quest business lending. I can also point you in the right direction so that you can get legal and accounting specialists on your side who will make the whole process as seamless as possible.