What you need to do before you start trading as a mortgage broker

When you start a new business, there are a number of steps necessary before you can open the doors. Running a mortgage broking franchise requires qualifications, a suitable place to meet clients and an effective marketing strategy so you can grow and nurture your leads.


Before you can start operating your finance franchise, you need to be qualified as a broker. The minimum you’ll need is the Certificate IV in Finance and Mortgage Broking which allows you to start offering your services. You may also want to consider a finance diploma to increase your knowledge and improve your CV.

You also need to make sure you have the appropriate licences, are registered with an industry body and are insured.

Find a premises

When you start your mortgage broker franchise, you may be working alone. If that’s the case, you could decide to work from a home office or make use of a co-working space rather than committing to a premises.

If you do decide to utilise an office or shop front, take time to research the best area for your clients. You don’t want to end up with an expensive commitment that isn’t winning you any leads.

Whatever location you choose, you need to consider the hours you intend to work and what space you will have available to meet with clients. Cost may be one of the biggest factors in this decision. Practicalities such as an internet connection, phone line and utility expenses are also important.

Plan your sales and marketing strategy

There are many skills you need to have at least thought about before you start working for yourself. Alongside sound financial management skills, you need to be able to communicate, manage sales, provide good customer service, and market your finance franchise.

Promoting your services is crucial in attracting customers, and the ongoing communications you put out will help you to retain them. Think about who your target audience are and how you will reach them. In the long-term, what will make them stay connected with you, return next time they need a broker, and recommend you to their friends?

Plan to get a website up and running as soon as you want to start doing business and, if applicable, create social media profiles, business cards and other marketing collateral.

To start your mortgage broker business knowing you have all the support you need through set up and in the future, request your free information pack today.