Since the start of the economic slowdown at the beginning of last year, No1 Currency has seen increasing demand for its franchised bureau de change package, with a number of travel agents, financial services, and even letting agents keen to diversify their product range and add a new source of income to their existing business.
No1 Currency is the only Foreign Currency Specialist in the UK to offer a fully managed and branded Bureau de Change solution for retail chains and independents that are looking to diversify their product range.
The popular demand for this low risk - high profit business model, which can be incorporated into any existing retail outlet at a very low cost, is testament to the fact that during an economic slowdown low risk diversification is a highly favourable option.
In 2008 No1 Currency opened one new bureau de change outlet every week using this business model, growing their network of Bureau de Changes by 25% in just one year.
According to FranchiseInfo.co.uk a downturn in the economy actually encourages people to seriously consider their options and franchising is considered the safest route for business expansion.
“It’s a win-win situation for everyone,” Managing Director of No1 Currency, Mark McElney commented, “our fully managed Bureau de Change franchise offers retail outlets the chance to expand and diversify their product range, widening their client base and grabbing a slice of this highly lucrative market, at a very low risk and cost to themselves.”
“Not only is this arrangement beneficial to our Bureau de Change partners but it’s also advantageous for our Bureau de Change customers,” Mr McElney continued, “by using this unique model to grow our Bureau de Change network we are able to save costs on start-ups and overheads, we put this saving directly into our customers pocket, which is why they get a better deal for their currency every time.”
