A new way to offer a helping hand

KNOWN Australia-wide for mowing lawns, fixing fences and washing dogs, the Jim’s franchise model is now encompassing conveyancing, with plans to go nationwide.

As pressures come to bear on conveyancers around the country due to AML/CTF regulations and taxation changes, the franchise model is offering a solution to practitioners who may be struggling with workloads.

AC talked to Sam Braithwaite, chief operating officer of Jim’s Legal, to get the lowdown.

What does Jim’s Conveyancing offer the franchisee?

Jim’s Conveyancing gives qualified conveyancers the opportunity to operate their own business while having the backing, systems and brand recognition of the wider Jim’s Group.

A franchisee remains responsible for running their own conveyancing practice but they’re not starting from scratch.

They have the benefit of an established brand, marketing and lead generation, business systems, training, an exclusive territory and ongoing support.

The Jim’s model also operates on a flat- fee basis rather than taking a percentage of the franchisee’s revenue.

For us, the aim is to allow the conveyancer to spend more of their time actually servicing clients and growing their business, rather than having to independently build a brand, generate every lead and develop all of the systems around the practice themselves.

Who is your typical franchisee?

Our typical franchisee is an experienced and appropriately qualified conveyancer who wants the independence of operating their own business but sees value in being part of a larger network.

We’re particularly interested in people who are good conveyancers first and foremost.

They may already be operating independently, working within another conveyancing business or looking to establish their own practice. It’s not simply about selling franchises.

We want people who understand conveyancing, have strong client service standards and want to build a sustainable business under the Jim’s brand.

Jim’s Conveyancing requires franchisees to be fully qualified and independently licensed where required.

Why should a conveyancer become a Jim’s franchisee?

One of the biggest challenges for an independent conveyancer is that being technically good at conveyancing does not automatically mean you have the time or resources to build a brand, generate leads, market the business and manage all of the administrative requirements that come with running a practice.

Joining Jim’s gives the franchisee the ability to operate their own business while leveraging a nationally recognised brand and established franchise infrastructure.

Jim’s Group reports more than 5700 franchisees across more than 50 divisions and 96 per cent brand recognition in Australia. That recognition is difficult and expensive for a small independent operator to replicate.

The objective is ultimately quite simple: let good conveyancers concentrate on conveyancing and client relationships, while we help provide the framework around them to grow a business.

Have you noticed a rise in small operators coming to join the ranks of Jim’s Conveyancing?

We’re certainly seeing interest from smaller operators and conveyancers who are considering whether remaining completely independent is still the best model for them.

I would not say that compliance is the only reason. There are a number of pressures on smaller practices, including marketing costs, technology, insurance, administration and increasing regulatory obligations.

At the same time, there are conveyancers who want to own and grow their own business but do not necessarily want to build every component of that business from the ground up.

A franchise model can be attractive in that environment.

What do you think is driving that interest: AML/CTF, indemnity insurance etc?

It’s a combination of factors but compliance is unquestionably becoming a much bigger consideration.

The expansion of Australia’s AML/CTF regime is a good example.

From July 1, relevant Tranche 2 businesses, including conveyancers providing designated services, became subject to the expanded AML/CTF regime.

That introduces additional obligations around matters such as customer due diligence and AML/CTF policies and procedures.

The new rules contain specific requirements dealing with customer due diligence in real estate transactions.

For a large organisation, there are people and resources available to deal with regulatory change.

For a sole practitioner or small conveyancing business, the same person may be the conveyancer, business owner, marketer and administrator.

Every additional compliance obligation therefore has a proportionately greater impact.

How can you help conveyancers manage their compliance loads?

The benefit of being part of a larger network is that every franchisee does not necessarily have to confront each new regulatory development entirely on their own.

We can monitor developments affecting the industry, provide information and guidance to the network, develop common systems and processes where appropriate and help franchisees understand what is changing and what they need to do within their own practice.

That does not remove the individual conveyancer’s professional or regulatory responsibilities but it means they have a broader support structure around them rather than having to independently identify and respond to every change.

Why is a model like yours attractive for smaller operators struggling with the layers of compliance put upon them?

Scale is probably the biggest advantage. A compliance change that requires research, new procedures, new technology or staff training can represent a significant burden for a sole practitioner.

Across a network, there is an opportunity to develop resources and systems centrally and then make those available to franchisees.

It also extends beyond compliance.

Smaller operators still need to generate work, maintain a website, advertise, manage inquiries and build their reputation.

Our model is designed to give them the independence of owning their own business without necessarily having the isolation that can come with operating completely alone.

Jim’s is a trusted name in other fields. Why has the brand now branched out into conveyancing?

Conveyancing is actually a very natural fit for the Jim’s model.

Consumers already associate Jim’s with engaging a local service provider backed by a larger national brand.

Property transactions are another area where consumers want someone local, accessible and accountable who can guide them through what can be a stressful process.

The opportunity is to take the strengths of the Jim’s model, particularly brand recognition, customer service, local franchise ownership and central support and apply those principles to professional services.

It is obviously a different environment from some of the traditional Jim’s divisions because conveyancing is a regulated profes-sional service.

That’s why having appropriately qualified and experienced franchisees is particularly important to us.

You’re currently situated in Victoria and South Australia. Do you have plans of going national?

Absolutely. The intention is to build Jim’s Conveyancing into a national business.

Victoria is currently our established market and we are in the process of expanding into South Australia with our first Adelaide-based franchisee coming on board.

From there, our objective is to progressively establish the division in the other states and territories with the right franchisees.

Interestingly, the Jim’s Conveyancing franchise site already identifies opportunities across Adelaide, Melbourne, Sydney, Brisbane, Perth, Canberra, Hobart, Darwin, the Gold Coast and the Sunshine Coast.

We don’t want expansion simply for the sake of putting dots on a map.

We want appropriately qualified franchisees in each market who can provide a high standard of service and build the brand
properly.