Q&A with Luke Cameron, Head of Franchise at Stone Real Estate
Our Commercial Law Partner, Bianca Sevastos sat down with Luke Cameron, Head of Franchise at Stone Real Estate, to speak with him about his experience with Baybridge and to learn a bit more about what one can expect when growing and expanding their business.
- Stone has achieved pretty impressive growth in a relatively short period of time with now over 40 offices across Queensland, New South Wales and Victoria. How have you managed to achieve that level of growth?
We have been very deliberate in attracting high quality franchisees that are committed to delivering premium customer service experiences for all stake holders be it staff, clients or partners. As a franchisor we have invested heavily in ensuring our business owners and agents have access to the best brand elements, training programs and technology. The key to our growth primarily has been due the success and happiness of our franchisees.
- What are your plans for 2022? Are you looking to expand into any other markets?
Stone Real Estate is committed to increasing our footprint on the east coast to circa 200 stores. We will continue to develop our franchise offer to ensure we are giving our franchisees an “unfair” competitive advantage in their local markets. We will be making our first entry into a new country, watch this space!
- Do you have any tips for other franchisors looking to grow their brands?
It is clear that most business don’t have a revenue problem, they have a people problem, always be on the lookout for the best talent. We have found the most effective form of marketing we have in franchising is a successful franchisee, like attracts like, if your network is producing strong profitable franchisees, you’ll never need to spend a dollar on marketing for potential franchisees.
- How has Baybridge assisted you with your growth strategy and in achieving the groups’ milestones?
Baybridge has been integral to our growth, it’s critical you have supreme confidence in your legal processes. The entire Baybridge team have an in-depth knowledge of our business and the broader industry, which ensures we have the most appropriate legal framework in place. We would have not been able to grow at the rate we have without their expertise and support. What really impressed us is the team’s attention to detail and exceptional communication skills, we have not experienced service to this level from any other legal firm.
If you want to start-up, expand or grow your existing business, or if you find yourself in a dispute, we are here to assist.