Mortgage broking franchise MoneyQuest opens its 100th franchise just five years since it first unveiled its franchising model.

The network’s swift expansion has been helped by major investments into proprietary technology said MD Michael Russell.

“We are delighted about reaching this significant milestone as it highlights our rapid rate of growth,” he said.

“Recruiting, developing and retaining 100 productive, active franchises is no small feat. Our recent monthly submissions are sitting at around $400 million, and this really validates our focused investment in proprietary technology.”

It’s a business that appeals to existing mortgage brokers, suggests Michael.

“Approximately 75 per cent of our current franchise owners are ex-bankers or former stand-alone mortgage brokers or loan writers, and this highlights that our industry really needed a fresh, vibrant, tech driven franchisor.

“Our enterprise-wide CRM automates a life of loan communications journey to each and every client on behalf of their broker. This not only elevates repeat and referred business conversions, but allows brokers to focus solely on new business acquisition.”

Legal InSite’s franchising law specialist Veronica Jumeaux said expanding to 100 franchisees in five years is “quite significant”.

“This exceptional track record speaks volumes about MoneyQuest’s onboarding process and the level of support that they provide to their franchise owners,” she said.

It’s a process that has worked for multi award-winning broker and MoneyQuest Penrith and Blue Mountains franchisee Peita Davies.

“The company’s innovative technology, supportive culture and well-credentialed network of brokers is unrivalled, and I have no doubt that the brand will continue to grow and thrive for many years to come,” she said.