One of Australia’s leading real estate groups marks 40 years of franchising success today with a celebration at its flagship Liverpool office.
Raine & Horne, led by former chairman Max Raine, opened its first franchise office in Liverpool, in Sydney’s south-west, in 1976. It was one of the pioneers of the Australian real estate franchise business model.
Current executive chairman, Angus Raine, said the move was a turning point for the company.
“The focus of the business shifted from selling real estate to providing franchise opportunities,” he said.
“In 1976, Liverpool was a rapidly-developing suburb. It was prime real estate territory as the local population had swelled 13.8 per cent in just five years.
“That first office was opened by John Pincham who was already an experienced Sydney real estate agent. Today, his legacy lives on in Vince Labbozzetta and Michael Busdon.”
Within months, Raine & Horne franchises opened in Lakemba, Randwick, Campbelltown, Parramatta and Maroubra.
By 197, 26 franchises were in operation and today there are more than 300 Raine & Horne offices nationally and in Asia, the Middle East, North Africa and the Pacific Rim.
“The success of franchising as a system relies on delivering key benefits to both the franchisor and the franchisee,” Mr Raine said.
“It gives the franchisor a cost-effective means to increase its footprint and offers those with an entrepreneurial bent an established brand and the support of [the parent].”
Meanwhile, Mr Labbozzetta said he is blessed to be part of the Raine & Horne network.
“I’m excited about the next 40 years for Liverpool now that the second Sydney airport at Badgery’s Creek has been gazetted,” he said.
“There was a great bounce in migration to this region in 1976 and I feel we’re on the cusp of a major commercial surge for Liverpool, which will underpin residential real estate growth.”