Malcolm Price launched his Poolwerx franchise in Sydney’s Upper North Shore in February 2018 with a retail store and four service vehicles, generating $1.5 million in turnover. Over the past five years, he has grown the network to five retail stores, 18 service vehicles and an expansive client base across nine marketing territories.

Price is currently exploring additional opportunities to expand through further acquisitions and greenfield sites. His goal is to establish an unrivalled scalable business in the service and retail segment of the pool industry and continue to grow the business materially over the next three to five years.

The transition from corporate life to franchise ownership

Moving from the corporate world to owning a franchise can be a game-changer, according to Price because it’s an opportunity to use skills honed over time, while enjoying the freedom and satisfaction of creating something meaningful and hands-on.

“As someone with a strong entrepreneurial streak and a history of senior executive roles in the financial industry, I found that my corporate experience aligned perfectly with the type of franchise partner Poolwerx was attracting – driven, innovative leaders with the vision and acumen to grow a scalable, thriving business,” Price told Retailbiz.

“I feel that successful C-suite executives are inspired to transition to franchise ownership as it offers a unique opportunity to channel their leadership and business acumen into building something personally rewarding. Franchising offers the freedom of running your own business with the support of a proven system, allowing executives to apply their strategic thinking, operational expertise, and people management skills in a new, entrepreneurial context.”  

Applying leadership expertise to thrive and inspire others

As a C-suite executive transitioning to franchising, Price quickly saw how his leadership expertise could drive success in the new venture.

“Franchising provides a proven system, allowing us to focus on strategic growth, building strong teams, and delivering excellent results without the uncertainty of starting from scratch,” he said.

“My experience in managing people, streamlining operations, and setting clear goals translated perfectly into franchise ownership. By applying these skills, I’ve been able to scale my business quickly and efficiently while maintaining the structure and support that comes with a trusted brand such as Poolwerx.

“This journey not only allows me to thrive in business, but it can inspire other C-suites by showing how corporate expertise can be leveraged to create a new career path that is personally fulfilling and financially rewarding in the franchise world.”

The Poolwerx franchise model

Poolwerx’s ability to analyse and predict industry trends has seen the brand grow exponentially and weather many economic challenges and downturns, according to Price, which has set a new standard for franchising with a genuine investment in their people.

“Broadly speaking, the appeal of franchising stems from being able to run your own business with the support and structure of an established and globally recognised brand. You have a support team of experts in marketing, IT, training, administration and sales just a phone call away – and the flexibility of having ultimate influence on your business and finding time to pursue important things outside of work,” he said.

Price has experienced firsthand how the Poolwerx model supports rapid growth and long-term profitability with deep support that franchise partners can draw on, irrespective of their journey.

“In my case, it was reviewing market structure, product range, conducting market analysis and how to strategically position my business and position it over time as the clear leader,” he said.

“The Poolwerx business planning process is rigorous, using EOFY results to set new benchmarks, analysing in segments overlaid with industry growth rates and competitor analysis. I have achieved the right level of autonomy and support in my business so that, if I need to step back, the multi-unit business can operate without me.

“We are Poolwerx’s largest franchise partner and our revenue and growth profit margin continue to achieve year-on-year growth. For someone with a corporate background, this model is effective because it allows you to apply your strategic planning and operational expertise to scale the business efficiently.”

Growth strategies and key learnings

Price re-engineered his businesses, implementing new client strategies and pricing, leveraging technology, and leaning on Poolwerx’s industry-leading expertise.

“I also embarked on a recruitment drive, purposefully hiring from outside the industry to promote lateral thinking and adopt a ‘better way’, per Poolwerx values. Adopting strong and consistent communication, paired with learning from feedback, has enabled my business to set the tone for motivation, guidance and support in the wider industry,” he said.

“I also took chances on retail locations, taking over independent stores in locations that would complement my existing footprint. I am also constantly learning and developing my pool industry knowledge. Poolwerx executives and our key suppliers are my advisers and sounding boards, who help further predict future challenges to future-proof our business.”

Future trends of franchise ownership

Price is constantly seeking ways to improve the business whether that means exploring new equipment under development or examining water chemistry approaches to better address pool water-related issues.

“Staying ahead of the curve means constantly learning and adapting and being agile and nimble in your area of expertise. It’s crucial to embrace technology and be willing to learn and change. We embraced technology from the beginning, through inventory control and client connectivity, and we continue to push the boundaries on this as Poolwerx rolls out its next evolution of client-centric technology. The keys to success of a scalable business is creating economies of scale and removing duplication, and it’s through technology that we have been able to do this.”

Pictured: Prue & Malcolm Price.