Open Dialogue: ANZ Franchise Team and Boost Juice
Stephen: Boost's story has become the stuff of legend. That is good for them – but I think that it can be a challenge too. Most people don't realise how complicated their business really is – the challenges they face to stay competitive and strong.
Boost has to manage seasonality, choosing the right franchisees and locations, keeping their brand and product fresh, managing their dynamic growth – here and overseas plus keeping their product range innovative. There is a lot to understand about what really drives this business. I think it is easy to overlook that complexity.
It is also more than just a matter of understanding the business; Mark has always been prepared to share Boost's vision. He never holds back information, whether it's the growth plans for overseas, a new product range or understanding how the various profit centres in the business work. And, just as importantly, he gets information to us quickly.
Mark demands high standards from his service providers, and he expects the same from ANZ. He reports to a high-profile board that expects him to have the right answers. I really see it as an important part of my role – to understand his business thoroughly so that I can assist him in finding the right answers when he needs them most. It's best for him and best for ANZ. We really are a team.
Mark: I guess you could say Stephen and I are partners in crime. ANZ does give us franchise loans but it's the whole relationship that works for us. The lending has helped underpin the Boost Juice growth story here and abroad, and it requires us to be totally open with the bank.
When someone gives you credit I think it requires you to be sure they fully understand the business, where you're heading and how you plan to get there.
This is why it's been good working with ANZ for business loans. Stephen has always shown tremendous interest in all facets of Boost Juice, and he's really got a handle on our business. In the long run, it benefits us both.
Stephen understands and supports our strategies. Such as the recent decision to develop a complementary range of food products to go hand-in-glove with the traditional juices and smoothies.
ANZ understands why we've gone down this path; they appreciate it's a seasonal business and understand why we need to develop it during the winter months. And because Stephen understands it, he's flexible, accommodating, and, most importantly, always ready to listen.
Having a financial services franchise relationship manager who really understands your business means you have a real advocate inside the bank. ANZ knows our ratios are strong, they know we can do it. That gives them a lot of comfort. What gives me comfort is having Stephen in the bank knowing he fully understands the Boost Juice story.
This article appears courtesy of Franchising Magazine.
09.04.2008
FCA Member
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