Edinburgh Letting agent, EH Letting has become the very first property management company to offer a currency exchange service in its Southside office located at 22-24 Newington Road.
The new service which was launched at the beginning of this week is running in partnership with Edinburgh-based foreign currency specialists, No1 Currency and will stock all major currencies for immediate exchange.
This development comes shortly after a report by the FDS (Franchise Development Service) claimed that the franchising industry is set to boom in 2009 as an increasing number of small businesses are looking to diversify and more people are becoming self employed.
No1 Currency already operates licensed Bureau de Change outlets in partnership with Scotland’s leading travel agents, Barrhead Travel and a number of alternative financial services such as Cheque Centre and Cash Generator. EH Letting, however will be the first of its kind, a letting agent, to incorporate the currency exchange service.
Managing Director of EH Letting, David Klan said, “We have a large office at EH Letting, and there was space going spare. I needed to identify a business opportunity that could operate and co-exist with my current business. A Bureau de Change partnership with No1 Currency presented the perfect opportunity to utilise this space effectively.”
“The new currency exchange service creates an additional income stream to the business,” explained Gordon Allan, who will be managing the operation of the bureau, “the whole package is ideal because it’s low risk and can be set up with minimal outlays and it’s a great way to increase the client base.”
“I personally used the No1 Currency Bureau de Change located in Edinburgh whenever I needed foreign currency because they seemed to consistently offer the best rates,” Mr Allan continued, “When I enquired about a bureau opportunity with EH Letting, No1 Currency sent one of their team over to the office and the rest, as they say, is history,”
Managing Director of No1 Currency, Mark McElney, said,
“The downturn in the economy has not stopped people from travelling and taking holidays overseas, however as consumers become far more price savvy, value for money has never been so imperative.”
“This latest opening is testament to the continuing expansion and market demand for our cost effective currency exchange services.”
“By using this new currency exchange service at EH Letting our customers are able to make their holiday money and currency transfers stretch that little bit further.” Mark McElney concluded.
When asked if the operation of this new Bureau de Change service coupled with his existing property letting business would pave the way for a business expansion into overseas lettings, David Klan commented, “never say never, if there is a business opportunity there then it is always worth reviewing and considering.”
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