Get the Facts (FAQ’s)
When you are thinking about becoming a Wet-seal Franchise you will need to know all the facts!!
Investing in a franchise business is a very important step for you, and it can be stressful and sometimes a daunting process.
Wet-seal aim to make this as easy a process as possible and we believe that the key is to be transparent, providing you with the relevant information you need to make an informed decision about choosing to join the Wet-seal Franchise system.
In this document we believe we have covered the key considerations & questions you should be asking any potential franchisor. Naturally we will not cover every question you have, however we urge you to seek as much information as you can as part of your due diligence.
We hope you find this information helpful in your assessment of Wet-seal.
Why choose Wet-seal?
By joining Wet-seal you are becoming part of the largest residential waterproofing specialist company in Australia & New Zealand, with over 30 years’ experience developing & installing its own waterproofing products.
Our business is a team effort, which is why we provide ongoing support to our Franchisees. Think of your colleagues and our head office staff as your pit crew, we do what it takes to support you to achieve your business goals.
We offer you the following benefits:
- The most comprehensive training programs in the market
- “On call” support of technical specialists
- Administrative & IT support team
- Your own territory, free of those expensive retail & commercial leases
- Freedom of being your own boss, creating your own financial future
- Support of national marketing & promotional initiatives
- In-house research & development of new products developed exclusively for your use
Frequently Asked Questions (FAQ’s)
How many franchised businesses does Wet-seal have at the moment?
We currently have over 50 Franchisees in Australia and New Zealand.
Is Wet-seal a member of a Franchise Association?
We are members of both the Australian and New Zealand associations.
What does Wet-seal see as the future of the industry Wet-seal is in?
As Councils and Government continue to understand the risks associated with having non accredited – unlicensed waterproofers in the building industry they will increase and enforce compliance, which in turn will drive many non-accredited operators out of the waterproofing industry creating opportunities for our franchisees.
What kinds of marketing programs does Wet-seal run for the product or service offered by the Franchisees?
Because most of our clients are Builders we do very little traditional advertising as such. Most of our resources are spent on direct involvement with the larger building groups. We do of course provide Franchisees with brochures and other marketing and promotional material that they can use when contacting local Builders.
Does Wet-seal have a launch package for a new franchised territory?
We offer initial & ongoing marketing support for the Franchise network.
What does it include?
While you are in training, letters and brochures with special offers are sent to all Builders in your proposed territory. The final week of your training is done in your territory in the company of our National Training Manager (an ex-franchisee himself) and most of that week will be spent meeting with existing & potential new customers.
What help will you receive in arranging local advertising and promotions?
Should you wish to do some local media advertising, assistance in the design and production of the advertising is available from our Promotions & Events Manager.
How are leads from it allocated to individual Franchisees?
Everything is based on the location of the job. If it is in your territory it is given to you.
Is there a website promoting the franchise?
How is my compliance with the franchise system measured?
Our Compliance Manager conducts regular audits of your workmanship and your office administration systems.
What is the term (length) of the franchise agreement?
The franchise agreement is for a term of five years, with options to renew for a further two terms of five years.
What insurances are required?
You are required to have $20 million public liability cover. If you have employees, you will need to have your State’s workers’ compensation cover.
What licenses are required?
In some States of Australia, you are required to have a Waterproofing License. Wet-seal will assist you with obtaining this.
Selection & Training
How does Wet-seal assess the suitability of individuals?
By meeting with you face to face and demonstrating the Wet-seal systems, then together we can decide if the Wet-seal Franchise system is right for you.
What are the most important attributes of a successful franchisee?
Hard work and perseverance in addition to the right industry along with product knowledge and application skills.
How long does the initial training last?
20 days (4 weeks) at Head Office then followed by 1-2 weeks in your territory depending on your needs.
Who conducts training and how well-equipped are they to do so?
Training is conducted in our Head Office by our Training Manager.
What does it cover and in what depth?
During the training at Head Office, 2-3 weeks is spent “on the tools” learning waterproofing systems. Then a minimum of 1 week is spent learning the necessary business skills as well as the Wet-seal support services & systems relating to items such as administration, finance and sales & marketing.
At the completion of your Franchise Training you will gain a TAFE nationally accredited Waterproofing qualification.
After your initial Franchise training, a Wet-seal allocated Manager will spend time in your Franchise territory generating leads and supporting you as required as you transition into the Wet-seal business.
Where is Wet-seal’s franchise support office based?
Wet-seal’s Head Office is located in Coffs Harbour which is situated on the North Coast of NSW.
Is there any technical support or on-going research and development?
The Technical division of Wet-seal handles all waterproofing assistance via phone on the help line or face to face as deemed necessary. The technical support team is also responsible for R & D, which is product development to improve the Wet-seal Systems.
What support would I receive during the opening period of my business?
While you are in training we will direct mail a range of marketing material to all Builders in your territory. In addition our National Training Manager will be with you in your territory for your first week after training. After that, the full Head Office team is available to assist as required and keep a helpful eye on you.
Would I receive feedback on my performance?
Every month you receive a comprehensive sales report as well as a ranking that you can use to compare your results with other Franchisees. Material usage reports, aged debtor trial balance reports and reports to assist in the completion of your BAS Returns are also supplied.
What would I actually be doing on a daily basis?
You will be installing waterproofing systems, communicating with existing and potential customers and processing jobs completed by you.
What will the opening hours of the business be?
One of the advantages of a Wet-seal franchise is that you determine what hours you work. There aren’t any landlords dictating what time you operate.
What are the hours required outside official business hours (e.g. for paperwork)?
Wet-seal does everything it can to minimize the amount of “paperwork” you have to do, but there is still the ordering of materials and processing of jobs that needs to be attended to. Again, when you do this will be governed by the volume of product application work you are doing. Some Franchisees make sure they leave themselves enough time during the day to attend to these matters, while others prefer to do them at night or on weekends. Some Franchisees make great husband/spouse teams (the spouse undertakes the office work, while the husband undertakes the product application work).
Financial – Costs
What is the cost of purchasing a Wet-seal franchise?
The franchise purchase fee is $25,000 + GST for a greenfield territory. If you are purchasing an existing established territory, the price is negotiated between you and the selling Franchisee.
What do the costs include?
- Franchisee Induction & Training Package – 4 weeks at Wet-seal’s Head Office learning all the practical application skills & business skills to help you grow your business
- Vehicle signwriting
- Uniform package
- Stationary package – brochures & business cards
- Initial stock & supplies – Contra Stock System – this means that we assist Franchisees by creating a Material Account that allows all material purchases to be charged directly to you and only paid for as a percentage of sales that are collected. This is a great saving towards cash flow for Franchisees.
- Field support – post training
- Administration – Wet-seal provides Franchisees with full administrative support including producing invoices & installation certificates and monthly statements. All you need to do is process the job sheet online and we issue invoices and installation certificates on your behalf. Customer payments are made direct to Wet-seal and any fees received are paid into your bank account twice per week
- Reporting – a comprehensive range of sales, payment & data reports are supplied to each Franchisee at the end of each month to help you keep track of your progress
- Marketing – naturally you will be included in all external Wet-seal marketing activity and online marketing such as website & Yellow Pages, Builder newsletters, customer surveys & access to all Wet-seal promotional items & marketing materials
How much working capital (i.e. cash to run the business) do I need?
Working capital is essential to maintain your lifestyle and commitments until the money starts coming in. How much will depend on your financial commitments but the more you have the better. (In some circumstances, we can offer a scheme that could assist with this requirement).
What fees are charged and how are they calculated?
We charge a royalty fee of 20% (although in reality our Franchisees only pay a little over 18% when various waivers and exemptions are taken into account) on all your sales.
Are there any other fees?
- Wet-seal approved WHITE commercial vehicle
- Public liability cover – most Franchisees take advantage of the Wet-seal Group policy.
- Your legal & accounting fees
- Franchise documentation fees
- Tools & equipment
- TAFE Training Fee to gain National Waterproofing Accreditation
- Waterproofing Licensing Fees (depending which State you will work in)
- Travel & accommodation whist completing 4 week Franchisee training
- Laptop/computer & smart phone
Would you like to know more?
That’s great news. The best thing to do would be to call our National Franchisee Manager on 1800 025 081 or complete our Enquiry Form and we’ll get back to you within 24 hours.