Founder of the highly successful Maid2Clean franchise, Mike Hanrahan, has broadened his franchising interests and joined Platinum Property Partners (PPP).
After ending his corporate career with global organisations such as Shell in the early 1990s, Mike launched the domestic and home cleaning service in 1993. Two decades on and the franchise is operating in more than 168 territories across four countries, with 14,500 cleaners.
His recent book, ‘The Lean Thinker – A guide to franchising your business on a shoestring budget’, sold hundreds of copies in the first six months of publication.
A believer in any ethical business model that can generate a lifelong and passive income like his own, Mike was interested to find out how PPP could help him use his assets in a more productive way. He met some of the team at a franchise show in September 2014 before deciding to get some more detailed information at a Discovery Day.
Mike said: “During the Discovery Day I came to listen and be open to new ideas. I was a sceptic though and asked a number of probing questions. However, the PPP presenters addressed my concerns and opened my eyes to the fact I was not getting a good return on my present assets. Becoming a franchise partner with PPP is a belt and braces vehicle to growing a new property portfolio as well as helping me sweat my assets better than I do presently.
“The business is closely aligned with Maid2Clean in that it achieves a long term residual income whether you are physically present in the business or not. The added bonus with PPP is that this income is further supported by appreciating bricks and mortar and provides an additional business opportunity for my children in the future.”
Mike, who will continue his role as CEO of Maid2Clean, aims to initially build a portfolio of up to ten Houses in Multiple Occupation (HMOs) in and around South Cheshire over the coming years, before deciding whether to grow the business further. Already a landlord of four single occupancy buy-to-let properties, Mike is looking forward to ‘plugging into the expertise’ offered by PPP and learning how to produce a significant and tangible return on investment.
Mike added: “There are significant pitfalls in property investment and I have no desire to fall foul of them. PPP will help me adhere to best practices, avoiding mistakes such as determining wrong locations and how to carry out best value refurbishments. I am also keen to learn how to engage properly with local authorities and optimise tenant management. Finally, I am looking forward to adding value to the PPP network where I can alongside providing input to the franchise operation in general.”
PPP Founder and Chairman, Steve Bolton, commented: “I am extremely pleased that Mike has joined us as a new Partner. It is a credit to Mike that someone of his calibre and standing, as a published author and highly successful franchisor in his own right, chose to join PPP. He did this so that he could maximise his profits, minimise his risks and fast-track his success as a property investor. It is also a credit to PPP that the business can not only attract franchisees from most of the leading franchised brands to join the business, but also other highly successful franchisors like Mike.”