It’s not just candidates who are taking advantage of the growth within the franchise sector – banks are also jumping on board. These days it is not uncommon to see specific ‘franchising’ teams who sit within a corporate banking business. These teams consist of relationship managers who deal with both franchisees and franchisors. In addition, a franchising relationship manager would know about aspects such as unsecured lending and associated start-up costs.
All this demand within the sector has led to a shortage of suitable franchising relationship managers. According to Vanessa Stack, a consultant at GOW Finance Recruitment, applicants tend to have a business banking or corporate banking background or have experience in general finance. At present though, opportunities outdo candidates: “not only is there a shortage of franchising candidates but there is a general lack of good relationship managers across corporate and business banking,” noted Stack.
In terms of general salaries, a junior franchising relationship manager could look to earn a base salary of A$90,000 while an intermediate manager could earn between A$120,000-130,000. Meanwhile, a head of a team could expect a base salary of A$150,000 plus.