ROLLING UP HIS SLEEVES

New Quest Apartment Hotels franchisee Jason Travers knows a thing or two about the serviced apartment business.

Quest Apartment Hotels executive takes on a franchise.

After five years helping franchisees get started with the booming Aussie business, the aspiring entrepreneur thought it was time he took the leap.

“I’ve run my own business before, and

I’ve sort of dabbled between businessownership and corporate life,” Jason says.

“Working with Quest as a consultant, I saw the opportunity in Goulburn and decided it was time to take the plunge again.”

The former franchise relationship manager was instrumental in assisting Quest franchisees across New South Wales and the ACT. From looking out for their welfare to serving as the link between head office, Jason saw firsthand how successful the Quest model could be. So when the right location came up, he jumped at the chance.

“You have to get the right business for you, one that fits within your lifestyle,” he explains.

“I was very specific on size and very specific on geographical location. It was literally over a year of due diligence just on assessing the town, determining if there was a real opportunity for growth and success in Goulburn.”

It was a massive undertaking, one that risked a stable job and a secure income but, Jason admits, it’s not always easy to shake the entrepreneurial bug.

“My immediate boss knew my goals, it’s something I’ve been working towards for around two years, waiting until the right opportunity came along,” he says.

“It wasn’t always the goal from the start, but around mid-tenure, it really emerged as a possibility. Quest was very comfortable in helping me in the transition, in a way that didn’t distract me from my current job. I knew it wasn’t going to be a quick process, but I’m happy I’ve made the move.”

THE OPPORTUNITY

After months of research and inspections, the relationship manager-turned-franchisee secured a site in the regional area of Goulburn, just outside the nation’s capital.

And while making the move from highflying Sydney to the much slower paced Goulburn may seem like an odd choice for a new business owner, particularly one so reliant on tourism, Jason knew it was the right decision.

Over the last few years, a steady stream of government representatives and business travellers looking for peace of mind outside of the hustle and bustle of parliament have turned to Goulburn.

The area may still be considered regional, but Jason believes it’s on the precipice of a great expansion.

“The main reason for me making the leap is still the town, and the opportunities that it poses. When you see it all happening in front of you, how you suit the area, it’s a privilege to be part of this little micro-environment.”

When it comes to regional towns, gaining the support of the locals is critical. Luckily enough for Jason, however, interest was swelling long before the doors first opened. The new Quest property is housed on the site of the old Catholic college, which once served as a primary attraction.

“Unfortunately, the school had fallen into disrepair for about eight years, so there was no hope that it would reopen,” Jason says. “Obviously, a lot of people watched the school site get closed down and moved away, so there was some emotional attachment to the area.”

Locals watched eager-eyed what would replace the once regal college, hoping for something that embodied the spirit and culture of the Southern Tablelands district.

“When the DA (development application) was proposed, people were interested in what would follow, but once the Quest sign went up, the general conversation was extremely positive,” Jason says.

So positive, in fact, that the new business owner even had the mayor on speed-dial.

“Being a small town, everyone watches every step you take; there’s a real sense of community,” he says.

“It’s funny, I even had the mayor texting me saying ‘just letting you know, your beds have arrived’, because when a truckload of beds lands in town, it’s hard to miss. People were literally giving me blow by blow descriptions as things would arrive, so the town has really gotten behind us.”

EXPERIENCE

Despite all his experience helping Quest franchisees get started, Jason reveals that the lead-up to opening day was still a nervous wait. However, once training began, he settled into a comfortable rhythm.

“We had a really positive induction process, with a comprehensive on-site training program for two weeks with our 12 staff members, and after all that everyone was still on-board; nobody left!” he jokes.

The corporate office team joined Jason and his crew at the Goulburn property for three weeks before opening, helping the new franchisee achieve full occupancy for his first weekend.

“Having two full-time professional trainers liaising with front-of-house and back-of-house staff, as well as our franchise relationship manager was a tremendous asset,” he says. “It was a huge sigh of relief knowing that we have professional people who are there to help.”

The high-octane start was a welcome boost for Jason, even if it meant giving up his prized room. The Sydneysider had been taking pride of place in the Goulburn penthouse, gaining a taste of what his guests are likely to experience. However, an influx of interest put an end to the creature comforts.

While you could argue that Jason’s experience with Quest may have kick-started his business for the better, Jason believes he was far from an expert on the ins and outs. The experienced franchise professional revealed that even he was not above seeking franchise legal and accounting advice.

“When I was in corporate office I was more of a generalist, but this is very specialist purchasing,” he reveals.

“Things such as sale agreements, deeds, transfer of directorship, lease agreements with the owner of the building, they’re difficult things. You can research all you want and in theory it makes sense, but when there’s 10 documents in front of you, it can be overwhelming.”

It’s a reality that all franchisees face, but with an experienced head on his shoulders Jason knew that the help was there – all he had to do was ask.

“The team at Quest really helped me through and streamlined the process as much as possible. That guidance on paperwork and agreements made us feel very secure. I truly believe the better the relationship you have with your franchisor, regardless of network, the stronger your chances of sustained success.”

CHALLENGES

Complex paperwork wasn’t the only challenge Jason had to overcome. He knew from his experience on-boarding new franchisees how difficult financing could be, however it wasn’t until he took the plunge himself that he realised just how challenging conditions had become.

“I thought it would be much easier to secure financing with my history, but banks are overly-cautious and the whole process takes much longer than expected. We have a plan in our own world, but banks have their own stipulations.”

In a business like Quest, where the buy-in is significant, securing finance is a critical step in the process. Partnering with a franchisor who not only helps you to navigate the intricacies of business ownership, but also the confusion of lending, can help to streamline the process. Jason had the benefit of both the Quest franchising team and chief financial officer Jason Vanderzalm on his side.

“That encouragement and that backing has been invaluable. At the end of the day, I wanted to be here and Quest wanted me here, so I had full confidence that we could get it done. I didn’t feel alone at all through the process, because I knew that I had strong people in my corner, willing to help me make sense of the situation.”

In a way, Jason says, the bank’s meticulous review of your business plan is the final vote of confidence every franchisee needs.

“The more due diligence that they’ve done, the more confidence they must have in you, but you do need to get your financial house in order. You need to put yourself in the best financial position, reputation and credit history that you can.”

THE FUTURE

So, with a successful franchise operation now under his belt, what next for the former relationship manager-turned-franchisee?

“Ultimately, you enter entrepreneurship for financial gain and the ability to create wealth; business ownership is the true test,” he says. “Being very much a part of the discussion with other franchisees, helping them to make the transition to multi-unit, I have faith that I can achieve that goal.”

While multi-unit ownership seems like it may be on the cards, working out the mix may be tough. The new Quest Goulburn franchisee is living on-site full-time, a move which he says is critical to ensuring you lead from the front.

“Moving forward, I plan on being on-site at least five days a week,” he says. “After all, I’m not an investor, I’m rolling my sleeves up and getting stuck in.”

Ultimately, you enter entrepreneurship for financial gain and the ability to create wealth; business ownership is the true test,