THE winner of this year’s top franchise awards has proved you don’t need a university degree to run a profitable franchise.
Smartline Personal Mortgage Advisers franchisee Brian Hocking, who left school after year 11, said a degree would not provide the skills necessary to run a successful business.
“A university education is good and something to aspire to, however on its own it doesn’t provide you with life skills, which are equally, if not more, valuable,” Mr Hocking said.
“Having a crack at something and making mistakes is a constructive process made all the more easier when you’re surrounded by supportive colleagues and mentors.”
A recent survey of over more than 1,000 franchisees across Australia revealed that a lack of tertiary education was not a barrier to running a highly profitable franchise.
Out of the most profitable franchisees, 26 per cent only held a year 12 certificate compared to 18 per cent that had a university bachelor’s degree.
Ian Krawitz, a spokesman for research house 10 THOUSAND FEET, which conducted the survey, said franchisees could put certain measures in place to ensure their profitability.
“Choosing the right franchise to suit your circumstance and personal passion is important, as well as researching the level of satisfaction existing franchisees have with the system,” Mr Krawitz said.
The second place winner, shoe and watch repair Mister Minit franchisee Darren Andonovski, echoed those sentiments, having only completed year 12.
Mr Andonovski has previously won several franchisee of the year accolades and has continued to achieve double-digit sales growth despite the tough economic climate.
Mortgage Choice, Kwik Kopy and Mr Rental rounded out the top five in the awards.
