Today, there are over 4,350 Jim’s franchises Australia-wide, making Jim’s Group Australia’s largest franchising family. But how did it all start, and what is it really worth today?
What year did Jim start?
The story of Jim’s Group began in the 1980s, when a graduate student decided to start a part-time gardening gig to make some extra money while completing his PhD at LaTrobe University. Jim started his business with a meagre $24 investment, so it’s fair to say that Jim’s Group had humble beginnings. Nobody at the time would have imagined that this small gardening business would become the nationally recognised brand that it is today.
When did Jim’s Mowing start?
Within a few years, Jim’s Mowing had kicked off. Although it was still small at this point in time, the business had established itself a good reputation in its community and Jim was finding a steady stream of work. In 1982, he took the plunge into working on Jim’s Mowing on a full-time basis and began laying the foundations for what the company is today.
As the business grew, so did the operations. Jim began taking on subcontractors to help out with the growing workload. Eventually, he began building up and selling his lawn mowing rounds, which worked as another way of coping with the incoming leads.
When did Jim sell its first franchise?
In 1989, Jim sold his first franchise. Jim’s Mowing was officially no longer a one-man show, and became for the first time, a group. The business model has developed over the years, however, the guiding principles have remained the same. By franchising, Jim’s Group would provide small business owners with the opportunity to capitalise on the group’s brand recognition and their well-established systems and models, whilst also allowing them to have control over the day-to-day operations of their businesses.
How many businesses does Jim’s own?
1994 was a turning point for the company. That year, Jim’s Group branched outside of Mowing and launched its second division, Jim’s Cleaning. Over the next two decades, over 50 new divisions would follow. Today, Jim’s Group is home to more than 3,800 franchise owners and operates in Australia, New Zealand, the United Kingdom, and Canada.
Although Jim himself owns several of his own franchises, Jim’s Group at the end of the day is made up of individual business owners who own and operate their own franchises. We see the establishment of a new division almost every year and we’re always on the lookout for new, innovative ideas (and for people to spearhead them). Most recently, Jim’s Laundry and Jim’s Jumping Castles and Party Hire were launched, so the possibilities are endless!
Do franchise owners make good money?
In the franchise industry, we observe something that we call the 80/20 rule. Some franchisees will make millions across their career. We would estimate that these so-called ‘top performers’ would make up around 20% of all franchisees. However, the majority of franchise owners, (the remaining 80%), will do reasonably well with their businesses – enough to live comfortably, but not necessarily enough to make them ‘rich’ per se. The reality is that it all comes down to the individual. If you’re innovative, hardworking, and committed, you’ll have more of a chance of reaping big financial rewards than if you’re unmotivated. We always tell our franchise owners that the sky is the limit – so what you’ll get is what you put in.
With all that being said, it’s also important to keep in mind that some franchise businesses are lower risk than others. At Jim’s Group, we have something that we call a ‘Pay for Work Guarantee’. This guarantee means that all of our franchise owners are guaranteed an income of at least $1,200 per week. We’ve integrated this guarantee into our business model because we want our franchisees to feel supported and financially secure. Ultimately, we want our franchisees to spend the majority of their time providing high quality services to their customers and innovating as a business owner. If they’re worrying about whether or not they’re going to have enough cash to pay the bills, then they’re just not going to be as productive.
So, what is Jim’s worth?
It’d be hard to believe that a business that started with only a $24 investment could become a multi-million dollar company just a few decades later. But that’s exactly what happened for Jim’s Group. Today, the business has an annual turnover of approximately $500 million, and continues to grow with each passing year.
A Jim’s franchise net worth will depend largely on several defining factors, for example, its region and territory. It makes sense that a franchise in a busy region and territory would be more expensive to purchase than one in a smaller town. But with some franchise owners selling their Jim’s franchises for hundreds of thousands of dollars, it’s fair to say that owning a Jim’s franchise is a safe bet and a good investment.
If you’re curious to learn more about joining Jim’s Group as a franchisee, we would love to hear from you! We’re always on the lookout for new, motivated people to join our growing business. Give us a call on 13 15 46 or enquire online to talk about next steps today.
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