Garry Parsons' Mortgage Choice franchise has become a true family business, allowing the Parsons clan to share common goals – and the rewards that success brings.
With a background in mortgage broking, Garry decided to put his skills and experience to good use in 2007 with the purchase of an existing Mortgage Choice franchise in Campbelltown located in Sydney's south western growth corridor.
“I really liked the Mortgage Choice franchise model,” explains Garry. “The backing of a well-known brand was important for me, and Campbelltown is an area popular with first home buyers, who I really enjoy working with. So it was the ideal combination.”
But Garry didn't go it alone. Recognising his busy office could benefit from a second set of hands, Garry's daughter Kristy came on board as an employee from day one.
Kristy's background in conveyancing was a big plus for her administrative role, and as Garry explains, “Kristy was keen and highly motivated. Plus she's my daughter, so I knew I could trust her to take care of things when I was out of the office.”
Widening the family fold
Three years later Garry's son Michael joined the team as a loan packager, later moving on to one of the big banks to broaden his experience.
In the meantime Garry's business continued to grow – so much so that he invested in a second franchise, this time in Canterbury. With his expanded skill set, Michael was an obvious recruit for the Canterbury office – first employed as a loan writer, then moving into his current position as Franchise Manager.
“The reward that drives us”
It turns out Garry has a lot of children, and most of them have found a productive role in Garry's business.
Daughter Alexandra is currently on maternity leave; son James works as a loan packager; and another son, Lloyd, is Garry's newest recruit, having left one of Australia's largest financial institutions to join the Parsons' team as a loan writer.
Not wanting to miss out, Garry's partner Gina started helping out in the office as a casual six years ago, and now works in the office full-time.
It makes business meetings quite a family affair, and Garry wouldn't have it any other way.
“We each have our own roles and we try not to bring work home,” says Garry. “But we're all really passionate about what we do at Mortgage Choice. We share the same views and values, and our customers are enthusiastic and appreciative – it's these rewards that continue to drive us.”
“What family is all about”
“Being able to bring my family into my Mortgage Choice franchise has been very important to me. It has really strengthened us a family,” Garry notes. “Sure, there are busy times when we're under pressure, but we are always mindful of each other's space, and respectful of one another. We keep the lines of communication open too though that's probably easier because we're family.”
On a practical level, Garry believes that at least one of his children is likely to take over the business at some stage. And that's a real plus. “I'd say either Michael or Lloyd are most likely to take over the reins, but the important thing for me is that I don't have worries about succession issues.”
“I think the Mortgage Choice franchise model really lends itself to bringing family members on board,” observes Garry. “It certainly offers great opportunities for everyone to enjoy shared success, and that's what being a family is all about.”