Mark Norman Mr Rental Franchisee - Episode 7

Mark Norman Mr Rental Franchisee – Episode 7

on October 10, 2016

Mark Norman

From Farmer to Franchisee

Mark and his wife Liz bought their first franchise, Mr Rental in Toowoomba in June 2003 and their second store in Ipswich in December 2003. Both stores were “Greenfield” sites that Mark and his team have grown to now have 1100 customers each. Mark’s stores service the area from the Regatta hotel in Brisbane west to the town of Roma in South West Queensland.

During my conversation with Mark he shared:

Opening your second store within 6 months of your first store
What a typical day for a Mr Rental Franchisee looks like
Being the first Franchisee in an Australian system
How he did his Due Diligence
Why his friends now own a Mr Rentals Franchise
The importance of following up
How he established a team in his business
Why he benchmarks his business with other franchisees in the system

Mark’s “One Thing” that he does every day…..

Have Coffee – Start your day with coffee
Would rather it be a bike ride every day but this does not always happen

Mark’s secrets are

Getting “Me Time” – Bike Riding – Go riding 3 – 4 mornings a week
To getting the right employee – Use the attitude test; Hire on attitude then train the skills
Cashflow – Have a great wife! Do monthly BAS’s as it gives you the opportunity to view the monthly reports of your business to track how you are really going

Mark’s tip for new Franchisees….

Do your Due Diligence before you buy in. Know the key drivers of a good site.
Talk to other franchisees in the system, not who is selling you the system, but others operating the systems, as they will give you the honest opinion of how the franchise system is working
Ask the franchisor; How profitable are your franchisees? You are here to make some dollars and deliver a lifestyle
Interview Question – Describe a situation where the pressure to compromise your integrity was the strongest you have ever felt?

The book Mark recommends