The combined talents of a father and son team have given a successful Mortgage Choice franchise a brilliant future.
Paul Pappas opened his Mortgage Choice Sydney CBD franchise in 1999. He'd enjoyed a rewarding career in banking but wanted control of his destiny, and Paul says he was attracted to Mortgage Choice franchise because of “the brand, the systems and the people”.
Back then, Paul's son Ryan was just three years old, and more interested in finger-painting than finance. Little did Paul know that Ryan would grow up to be an outstanding ambassador for his business.
Fast forward to 2014, and Paul's Mortgage Choice franchise was well-established. His son Ryan, now aged 18, had just completed his high school education, and father and son were enjoying a quiet moment on the beach.
“We were just relaxing together when Ryan turned and asked if he could work for me,” recalls Paul.
With the encouragement of his wife, Paul agreed to give Ryan a job. But trading his ‘dad' hat for his businessman's hat, Paul cautioned “I'm not paying you to sit on the beach each day”. He needn't have worried. Not only did Ryan arrive at work every day thereafter, he showed enormous talent for mortgage broking.
A real flair for mortgage broking
Paul notes, “I'm a firm believer that you have to learn to walk before you can run”, and reflecting this, Ryan worked his way from the ground up, starting out in loan administration.
Initially employed on a casual basis, Ryan was keen to complete a traineeship and work towards completing a Certificate IV in Finance and Mortgage Broking – something he could only do as a full-time employee. “Ryan pulled his weight from day one” explains Paul, “so frankly it was a no-brainer for him to join the business full-time.”
Over the years Ryan's responsibilities have increased, and proud father Paul says his son has a real flair for mortgage broking and shares his enthusiasm for helping people.
Keeping it in the family
These days, Ryan has completed his Certificate IV, and backed it up with a Diploma in Finance and Mortgage Broking.
Ryan has now completed his Diploma in Finance and Mortgage and has proven to be a tremendous asset to the business. Ryan's involvement has also given Paul a clear succession plan. “Ryan knows he has a long term career path here,” says Paul. “And while that's a good thing for Ryan, it's also very reassuring for my wife and I to know the business will stay in the family.”
It really has worked out extremely well
While Paul admits it can be hard drawing a line between their personal and professional lives, he says his relationship with Ryan has deepened since bringing his son into the business.
Looking back, Paul recalls, “Ryan was very young with no experience when he started with me. However, he's proven himself to be very commercially minded and he shares my passion for my Mortgage Choice franchise. I definitely find it easy working alongside Ryan, and having him on board has worked out … extremely well for all of us.”