For many hotel employees, the dream of becoming an owner might seem far away. But this dream became a reality for Quest Apartment Hotels’ employee Bianca Tachdjian earlier this year. 

After a 13-year career with Quest, in which she held a number of roles at both property-level and with the Quest support office team, Tachdjian was granted a minority ownership share in the Quest Ivanhoe franchise business, joining existing business owners Andrew Scott and Nick Michael.

“There’s no doubt about it, it is hard work. There are long tiring days, and the pressure is there, but it is really rewarding seeing a greater personal financial return for all the effort I put in, not to mention that I am contributing to growing the value of the Quest Ivanhoe business,” Tachdjian said.

Tachdjian is one of many Quest workers who took advantage of Quest’s Joint Venture (JV) initiative, which supports employees to team up with an experienced Quest franchisee to become a minority shareholder/owner in the business. 

In this position, she can enjoy the lifestyle benefits of being her own boss.

“I have the freedom to finish a little early on the days that I’m ahead,” she said.

“I am nothing without my team and I am so grateful to all of my team members who give so much day in, day out, to help us deliver a great experience to our guests here at Quest Ivanhoe.”

Tachdjian is hopeful that in the years to come she will be able to “pay it forward” and help someone else to become a Quest business owner.

“With Quest, I know it is a genuine possibility, due to the strength of their new property growth pipeline, plus their track record in running successful franchise businesses,” she said.

A springboard for personal growth

A minority JV business owner would usually require minimum initial capital investment of 20% of the business value, and in some cases, the partnership includes a mutual agreement that sees their ownership stake in the Quest franchise business increase over time, in line with specific performance outcomes.

Quest says most of its franchisees in JV partnerships find the arrangement to be incredibly rewarding, and a springboard for growing personal wealth and financial security.

“For many years now, Quest team members who’ve had the aspiration – but not necessarily the complete financial means – to become a hotel business owner have been able to successfully partner with experienced Quest franchise business owners to make their first foray into owning a business,” explains David Mansfield, Managing Director, Quest Apartment Hotels.

Quest’s proven track record in franchisee success and increased value of their business, puts it in a strong position to be recognised as a preferred franchising provider.

It’s not always necessary to have a lengthy career with Quest to avail of the JV partnership – some minority JV franchise business owners are recent additions to the Quest team that bring solid hospitality/hotel management industry experience.

What is most important is that those involved in the JV partnership possess similar common values and a commitment to the ongoing growth of the franchise business.     If you have experience in managing high performing teams in a fast-paced environment, or have previously owned a successful small business, get in touch with Quest to find out about hotel business ownership opportunities available through JV partnerships.