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Stone reaps rewards from entrepreneurial focus

By Grace Ormsby
09 December 2021 | 1 minute read
Peter Mumford

Fresh off a recent brand refresh, the company has scooped a new accolade as it continues its growth.

In recognition of its recent success, Stone Real Estate has taken out a spot in The Australian Financial Review’s Fast 100.

In a statement, the firm said it found itself among an “impressive list of household names that started out as Fast 100 companies, including Booktopia, Boost Juice, Grill’d, Lonely Planet, RedBalloon, Seek and WebJet”.

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The AFR Fast 100 compiles Australia’s fastest-growing companies that started trading before July 1 2016, with an annual turnover of over $500,000. Stone noted that entrants must provide three full years of revenue data, and are ranked according to the compound annual growth rate achieved.

Key to the network’s recent growth has been “targeting a younger demographic with a fresh, entrepreneurial focus”, said Stone founder, director and CEO Peter Mumford.

“2021 has seen Stone rebrand with a fresher look with an increased emphasis on digital marketing and social media resourcing for our agent-base, with the aim to help each and every agent stand out,” he reflected.

“The phased rollout concentrated on boosting regional branding efforts with the launch of a new website, to support the growing presence in the regions.”

Since its establishment in 2014 and its adoption of a franchise model in 2016, Stone has grown to more than 50 offices, with more than 40 franchises across NSW, the ACT, Queensland and Victoria.

Reflecting on the year that was, Mr Mumford noted that “2021 has been a great year for real estate and we’re looking forward to continued growth into 2022”.

Weighing in, Stone head of franchising Luke Cameron expressed that the network is “opening more offices, expanding into new locations and we’re excited to bring out franchisees along for the ride”.

In the wake of the accolade, the brand has also re-affirmed its plans for expansion, not only across Australia, but into New Zealand - before 2021 is out.

REB first reported on Mr Mumford’s intention for Stone to enter the New Zealand market in June. 

Stone reaps rewards from entrepreneurial focus
Peter Mumford reb
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ABOUT THE AUTHOR


Grace Ormsby

Grace Ormsby

Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.

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