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A Quest for a new life pays off for Jaideep Sharma

Sarah Stowe

Jaideep Sharma runs two franchised Quest Apartment businessesWhat would you do if you had the chance to build a hotel resort?  Well Jaideep Sharma leaped at the opportunity put in front of him. And it’s set him on the path from India to an accommodation business in Australia.

Sharma trained in hotel management in India, and worked for the Hyatt chain. But it was when he stepped in to help build a resort after a contract was cancelled in 2001 that he really learned about the business.

While his friend’s father was the engineer, Sharma took on the role of project manager (without any practical experience to bring to the job) – and found himself sleeping in a cabin on-site.

“It was amazing. There was a cook, a security guard and me. I was dealing with the tradies.”

And after tackling this gargantuan task, Sharma spent six months working in Delhi for the Intercontinental Group.

But the next step of his career would take him far from home. He and his wife decided to emigrate. His goal was to stay in hospitality and because Australia had gained popularity following the 2000 Olympics, the couple looked at opportunities here.

“Everything was booming,” he says. “And there is always growth in start-ups.”

Thanks to a transfer arrangement, Sharma joined the Intercontinental Group’s Melbourne Rialto and then joined the reception desk at Quest Bayside apartment property.

Within two years he had moved up to be senior receptionist and then team leader. By 2010 Sharma was a night manager.

“This was a good opportunity to live and work onsite and learn how to manage your lifestyle: it’s 24/7 work and 24/7 home life.”

The role offered new challenges that perfectly suited his passion for being busy and a team player.

“If you see staff struggling, you are prompted to help them. I started to like work better.”

In fact Sharma loved his constant engagement with staff and customers so much that he didn’t take a sick day in the next four years.

He admits he’s a workaholic. Add to this his ambition, and it is no surprise that two years ago he started looking for his own business in the Quest network.

The Bendigo apartment block was his first property.

“I met the founder and CEO at the time, Paul Constantinou, and in a five minute discussion I knew what I had to do for the next five years.”

So what was it like to be a franchisee after all this time working for others?

“There is more trust, you feel so proud that people can trust your decision and decisions should always be made in favour of the business.”

The Lonsdale operation has been undertaken with family friends (a lawyer and wealth manager) who provided the financial security. The settlement was completed in March, and since then Sharma has been handling the launch of two venues.

He and his business partner have very clear roles: “He does the legal, body corporate, etc. I bring the money in, he spends it!”

The importance of the brand can’t be overstated in business, he believes. The bank was stringent in its analysis of the business potential and the profile of the franchisees.

“Without Quest this deal was not going to happen,” he says. “It was a tough selection process – both personal and financial.”

A renovation program will be undertaken in time to maintain and bring the Quest on Lonsdale property up to the Quest Group standards.

Although Quest franchisees operate the apartment hotel they are generally not the owners of the apartments. At Quest on Lonsdale, each apartment is individually owned. This means we work with the owners of each apartment when it’s time to refurbish the apartments and other matters.

Quest’s experience with this situation is invaluable, Sharma says.

But it is common too for Quest to own just some of the apartments in a building. At Lonsdale, for instance, there are 92 rooms in total. That gives Sharma plenty of potential with another 40 he could to add to his portfolio.

It’s all about the numbers, he explains. “If I get more inventory, the game changes. It’s about the number of rooms. With some staff and structural changes, more rooms generate more revenue.

“Our target is to increase by 40 percent. All CBD properties have potential.”

The brand is a big draw for any franchisee, he says.  “And I’m happy to pay a nine percent franchise fee which includes a one percent brand fee.

“If I had my own properties, no-one knows my brand and I would be paying commission to get it listed.

“With Quest, people know our brand.”