Franchising talks to Peter Kelly, franchisee in Victoria’s South Geelong and Belmont, about being a part of the Fastway courier business.
When did your franchise open?
November 2005
Why did you choose Fastway?
When I decided to go into business for myself, I wanted to make sure I could achieve an acceptable work and life balance. Lifestyle played a big part in my decision to join Fastway. As a courier franchisee I am able to keep fit and active without having to waste time or money going to the gym, and with a young family, spending time with my wife and two children was important to me. The Fastway business operates Monday to Friday which allows me to spend time with my family on the weekend and as my own boss, I also have the independence that you don’t get when you work for someone else.
How did the reality of running a franchise differ from your expectations?
I think the key here is to make sure you do your homework and research the opportunity before you dive in. Going into business for yourself should always be considered a major, and potentially life altering experience and as such, I made sure I did the necessary research before investing. As a result, I had a good idea about what to expect when I purchased the business and to date there haven’t been any real surprises.
What would you do differently now?
Believe it or not, I wouldn’t change anything. I think having done the research initially has paid off. When I purchased the business in 2005, I was anticipating growth so I invested in a good quality vehicle to handle the increase in capacity that I was expecting. The growth happened, and in that time, I’ve even been able to split my territory for a capital gain. I was conscious that by splitting there would be an immediate reduction in income, however there were also instant cost savings, and I was confident that the territory had further potential for growth so that I could again get my income back to where it had been in the days pre-split.
What advice would you offer a new franchisee?
Two things: firstly, when you purchase a franchise, complete your due diligence on the existing customer base. Make sure you know what you are paying for. Secondly, once you are in your business, make your main focus the customer. By being reliable and friendly to my customers, I have managed to build a strong rapport. My customers have never been tempted to use a competitor’s service even if they are slightly cheaper. Customers see value in the service I provide and this keeps them loyal to me and ensures my business reaps the rewards.