Stratton Finance is defying the economic downturn by opening a number of franchises across the country.
The first franchise was opened in Joondalup, Western Australia, at the end of July with two more opening on the Sunshine Coast in Queensland later this month. A number of other franchises in South Australia and NSW are also expected to open their doors within the next couple of months. The company is expanding in this way to help deal with its drastically improved enquiry rate.
"Last year it was widely publicised that GMAC Financial Services exited the retail motor finance market. They accounted for roughly 40 per cent of the market, so now there's a vacuum in the market, and since then our enquiry level has more than doubled. With the franchises on the ground, near the clients, our capacity to service these people who are enquiring will increase," said Rob Chaloner, managing director at Stratton Finance (pictured here).
Chaloner considered opening franchises after realising that the large number of leads generated by the Stratton Finance website was making it hard for sales people to get close to customers, hindering the company's closing ratio. He is hoping that opening these franchises will improve the relationship between the company and its customers, while also improving staff performance.
"There's only so many people you can employ or offices you can fund the opening of yourself, and we want highly motivated professional people who want to buy into their own business. While we've got some very, very good employees, you always struggle with turnover of sales people and someone that has invested in your brand and invested in themselves, always performs better," he said.