Poolwerx is finishing the financial year on a high. Franchise enquiries over the past six months have risen 70 per cent on the same period last year.
There has also been a significant change in the franchisee profile.
COO Nic Brill told Inside Franchise Business Executive “There’s a very high demand for owning a businesses. More people than ever are looking at our industry.”
Poolwerx has added 30 new franchisees to its network over the past two years. The rise in inquiries follows on from the changing work landscape with people looking to gain greater autonomy, he said.
New franchise profile
“Buyers are considering their futures even now that the world reopens. Do they really want to travel back to the office or do they want to own their own business and be in control of their destiny?”
The latest cohort reflects a changing profile of franchisees with senior executives, high net wealth individuals and medical professionals buying into the business.
Brill cites a number of reasons for the shift in career profile. Individuals are re-evaluating their lives after lockdown and are looking for security. People are well-placed to invest in a business. They want to do something different, and achieve a better balance in lifestyle.”
One franchisee who has not followed the traditional pathway from van to store came in with franchising and corporate experience and significant financial backing. Within seven months he had four vans and a retail outlet on his greenfield territory.
“That’s the new thinking we’ve got from very savvy incoming franchisees, with asset-rich backing and experience,” said Brill.
“Ten years ago, 100 per cent of franchise partners were a mobile-only operation. Today, half of our new recruits are jumping straight into retail, with multiple vans, sometimes even multiple retail hubs,” he said.
Poolcare market is growing
Brill said “We’re 30 years old this year, and you expect a brand of maturity to be in decline after a period of time. It’s the exact opposite for us. Pool building has exponentially grown, with waiting lists of up to two years.
“Then there is innovation in pools and the plunge pool market. Fibreglass pools are in high demand – you can dig a hole and drop a prefabricated pool in.
“There are more avenues to have pools in the ground, so the industry is growing. Our territory numbers are growing.”
Brill said as the market for pool care grows, some franchisees are choosing to sell their assets.
“They are quite comfortable doing this, knowing the existing territory has grown,” he said.
Poolwerx will look at opportunities to split territories when franchisees come to renewals, he said. “If they want to realise the asset value, cash in on their hard work, reinvest or enjoy the proceeds.”
Late last year Poolwerx initiated a recruitment drive for staff as a result of booming sales. Turnover was 10 per cent above forecast and a double digit percentage sales uplift year on year.
