Diving into Success

Franchise Partner Malcolm Price recently shared his Poolwerx journey with Inside Franchise Business including his previous experience in finance to develop a multi-unit business. Driving a $3 million business is a great way to showcase senior skills, and that’s just what Malcolm Price is doing.  He’s achieving outstanding results – so much so that he scored a trip to visit our US operations as one of Australia’s top performers.

Malcolm admits he might have an advantage when it comes to his business success. “I’ve been in the financial market almost 25 years in Australia and the US.”

He has worked with Deutsche Bank and J.P. Morgan. “It was pretty diverse. At one point I had about 60 people responsible for bringing the best equity ideas in to the US. The last 10 to 15 years was all about building businesses. “

That meant taking a business considered to be a low performer and turning it around. And this has been the key skill Malcolm has brought to his franchise.

malcolm price in america

New Beginnings

After 10 years in New York with his wife and three children, the family returned to Sydney in 2013. “For me it was a bit of a reflection point; where do I want to be for the long term? I semi-retired and re-charged myself.” After a short stint with J.P. Morgan, Malcolm was ready for something different. “I need to be stimulated, challenged and outside my comfort zone. What motivated me? Thinking about how I can get the balance right between home and work.” Malcolm decided his next chapter would be about more autonomy and buying a local business would allow him to give back to the community. “I certainly wasn’t willing to sit back and play golf, I like to push myself and find a challenge. I like building things,” he says.

Malcolm looked at a few industries within his local area but decided that it was the Poolwerx franchise system that was most appealing.

He bought his first store in Killara in February 2018 and in partnership with another Franchise Partner, acquired an independent pool store and converted it to a Poolwerx. Post transaction, Malcolm has now acquired 80% of that business.

Today, Malcolm’s business includes the two stores (Poolwerx Killara and Poolwerx Turramurra), 10 service vehicles and 22 staff. His goal is to add another two stores to double the business in the next five years.

A new adventure

As his business continues to grow, Malcolm plans to be a dominant player in the local area.

“I could be quite unique as a multi-store business under one banner. Interaction, consistency and quick decision making are crucial… That’s one of the reason I was attracted [to the industry], it’s still fragmented. I knew Poolwerx was a leading brand, better presented.”

“I’m very fortunate, I’ve built a great team and I have the opportunity to spend time with my family. I have flexibility and I am more in control of my own destiny and time… Franchising allows you to get to a scale but it also enables you to not be there every day.”

“Franchising allows you to get to a scale but it also enables you to not be there every day.”

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Here's How You Can Change Your Life Today   Diving Into New Opportunities With Poolwerx The home services industry is booming despite the impacts of COVID, and this is never more evident than at Poolwerx, Australia’s largest pool and spa maintenance brand who recently announced its most successful financial results of its 29-year history. Despite the testing retail environment, turnover was 10 percent above forecast for FY21, with Poolwerx’ 128 retail stores performing exceptionally well, recording a sales uplift of 10 percent year on year. Overall, the business saw 10 percent growth year on year with a total of 5 new retail stores opening across NSW, WA, and QLD and a further 5 independent stores acquired under the Poolwerx brand. The strong FY21 results reflect a surge of Australians investing in their own backyards whilst affected by the pandemic, generating a home servicing industry boom. Poolwerx Chief Operating Officer, Nic Brill said the COVID-fuelled growth in-home services had seen the brand’s recession-resilient franchise model thrive. “With people spending more time at home than ever before, we saw our client’s priorities shift towards investing in their homes and backyards,” Mr. Brill said. “The broader pool industry were the recipients of this home cocooning trend throughout 2020 and into 2021, and it’s great to see our network of small family businesses generate incredible results and come out on top in these uncertain times. Our brand and what we stand for – maintaining healthy pools for families and friends to create lifelong backyard memories – is really resonating with clients in the current climate. “Our franchise partners exceeded their planned budgets for the financial year, a testament to both their dedication and commitment to the increased demands from new and existing clients. “Our diversified approach and business model, working across retail and servicing, provides partners with multiple revenue streams versus a single stream income franchise option. “This diversified approach creates opportunities for our partners to build a business that suits their needs – from a single van operator all the way through to multi-store empires, we’re here to facilitate and support the journey they want to take.” Mr Brill said. Getting into small business or franchising offers a chance for a secure future and helps Australians regain control of their livelihoods. Having survived five economic recessions, Poolwerx has proved time and time again that this is an opportunity to dive into. Take control of your future and join one of Australia’s most successful franchises – simply click this link to learn more.
4 Ways Footy Helped Shape My Business What 500+ Games of Club Footy Have Taught Me About Running a Business Taking the lessons learned on the footy field into the boardroom has helped build the world’s largest swimming pool and spa maintenance franchise for John O’Brien, Founder and Global CEO of Poolwerx. He’s also survived through five economic corrections in that time, so understands what it takes to build a resilient business. Beyond his passion for entrepreneurship, John’s club footy career is almost as impressive. He got his first kick as a seven-year-old growing up in rural Victoria and didn’t hang up his footy boots until 36 years later, with more than 500 games of Aussie Rules and Gaelic footy under his belt. As a business entrepreneur, he’s survived through five economic corrections and says the lessons he learned on the field have helped shape his business views and values. 1. Find the better way – only by constantly training and evolving as a player, team and business can you get ahead of the curve. “The day players or executives feel they know it all is the day they need to hang up their boots,” says John. 2. Dare to succeed – the Viking mentality of never giving up is what gets Poolwerx through adversity, such as the torment brought on by COVID-19. “When you’ve got your back to the wall late in the second half, that is when you dig deep for moves or sheer determination to find a way to win through or lose well,” says John. 3. Partnership mentality – on the field and in the boardroom, it’s always about relationships and working together as a team. “Teams always fascinated me more than individual sports – no matter who you were, once you pulled on that jumper you were one team with one goal – to win. That’s why franchising has been my career, it’s one big team,” says John. Be it Franchise Partners or suppliers, Poolwerx takes a real partnership approach – the company even refers to its supplier as ‘Partners in Profit’. John describes Poolwerx as a family business made up of family businesses. “We have this unwritten tribal language that binds us all together on one mission – from singing the team song after winning the game to making sure your franchise partners and suppliers are profitable too.” 4. People first – in a business just like on the field, your biggest asset and IP is your players, your people. “Conversely, while you’re a team, every individual is at a different stage with different abilities and motivations. The trick for me as coach these days is constantly guiding the individuals on our team to be the best they can be, the best fit for the team and peaking at the right time,” says John. This approach helped us keep everyone employed globally through both the GFC and the Pandemic and we grew strongly through both too. With Poolwerx recently announcing its most successful year to date after 29 years, John’s winning formula is helping drive big wins for franchise partners. If you’d like to join this winning team, click the link for more info.
Winning Big at Franchising Awards We made a splash at last night’s National Franchise Council of Australia Excellence in Franchising Awards with a double win! Our talented Marketing Team took out the Excellence in Marketing award while Queensland Business Development Manager Phil Colburn was recognised with the National Field Manager of the Year Award. Held virtually, the awards recognised Australia’s high-achieving franchise networks, small business owners and franchise support staff, showcasing their amazing work in the franchising sector.
COVID UPDATE: We are open for business! If you can’t get into store, click and deliver is available. Click here for all Victoria Orders. Click here for all NSW Orders.