Australia’s largest non-bank lender, Wizard Home Loans, has begun operating as a franchise as the company sets its sights on opening 300 branches.
The company has 250 branches throughout Australia and New Zealand and lends money mainly to home buyers.
Wizard hoped to boost the number of branches in Queensland, Victoria, South Australia and Western Australia, its director of sales and distribution Chris Canty said.
The franchise model was attractive because the customer had a direct contact with the franchise owner, Mr Canty said.
He said the customer did not have to deal with a broker, and a franchise model would allow Wizard to grow its network by 15 per cent this year.
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