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The Money Collectors Franchise
Finance:Yes, through a third party
Home:Yes
Part Time:Yes
Membership:Regular
The Money Collectors Franchise
Background
With many years experience of credit management consultancy, our founder, Mike Segall, decided to launch the debt collection company, Money Collectors, in October 2021. We became the preferred supplier to the British Franchise Association (BFA) for debt collection and related services. After exhibiting at the British & International Franchise Show in 2023, we received several enquiries regarding the possibility of buying a franchise. From this, the idea for The Money Collectors Franchise was born.
The Opportunity
Introducing a pioneering opportunity to helm your own debt collection agency, backed by the expertise of our seasoned Head Office Team. With UK personal debt at a staggering £1.8 billion (The Money Charity, June 2023) and rising corporate debt, now is the prime moment to embark on this franchised journey. Our franchise provides a comprehensive toolkit: from the intricate process of debt collection, inclusive of lead generation, client onboarding, our CRM system, to reporting and all-inclusive legal services. Additionally, our Training School equips you with invaluable insights on agency setup, efficient operations, advanced collection strategies, and staff recruitment and training. Rest assured, our dedicated Head Office is available weekdays, 9am-5pm, ensuring support for all your business needs.
The Investment, Training & Support
The franchise fee is £25,000 + VAT. Franchisees will receive: – 6 training days- inclusive of hotel accommodation, food and travel.
– Initial 3 day training: how to set up a debt collection agency, how to run a CRM system, how to attract new clients, The Debt collection process, Collections, Effective reporting, Legal services, marketing & PR.
– Further 3 day training once the business is up and running: Advanced Collections, How to run a successful Debt Collection Agency, The Psychology of Collections, Q&A/ Shared Experiences, Role Play.
– A copy of the Operating Manual and any other training materials
– Continuing support from the franchisor from the start of taking on the franchise, including consultation and guidance relating to methods of operation.
– The right to operate and promote the franchise using the trade name ‘The Money Collectors Franchise’
– The benefit from any improvement and development of the basic system and promotional activities.
Additional Fees
– Monthly service charge: £500
– Marketing levy: 1% of turnover, to be used for promoting and marketing your franchise.
– Sales-based fee: 10% of monthly gross income.
The Recruitment Process
There will be an initial video call to discuss the franchise and costs, essentially for the prospective franchisee to decide if this is the right opportunity for them and for the franchisor to decide if the applicant is suitable. If both parties agree, the franchisor will send all relevant information regarding the franchise to the franchisee and then a face to face meeting will be set up, where possible. Once both parties have decided to proceed, the Franchise Agreement will be sent to the prospective franchisee, after which there will be the opportunity to ask any questions about moving forward. Subsequent to this, the franchisee would sign the Franchise Agreement, pay the franchise fee and we would then diarise initial training.
White Collar Franchises
White collar franchises are a leading sector within franchise recruitment. White collar franchise opportunities are often an ideal choice for a franchise seeker wishing to own a business and work alongside other business professionals. These opportunities are usually business to business.
Many white collar franchise opportunities can be home based so the need and expense for office premises can be eliminated, although the level of investment will vary among franchises some have low start up costs.
With training and a highly developed business method for many, a white collar franchise can be an ideal turn key solution for a business profession or anyone wishing to enter the world of business.
Unsurprisingly many franchise seekers attracted to white collar have often risen through the ranks in management posts for large corporations and may find themselves in a redundancy situation or perhaps decide to take early retirement and wish to take control of their lives, income and use the valuable business experience they have gained through their careers.
There are a vast scope of different types of businesses that fall under this genre these include business coaching and mentoring, consultancy, recruitment, cost reduction, accountancy and finance.
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A management franchise can also offer a good life work balance, with consultancy hours mainly being set around traditional office hours, a management franchise could be the solution for more leisure time and is ideal for people who enjoy business and have a desire to inspire other local businesses to thrive.
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So what is a low cost franchise? Well I suppose everyone will have a different definition of what they think a low cost opportunity is but for these purposes we will use an investment level of £15,000 or less as the guide price for a low cost franchise.
So does low cost therefore mean low earnings or profit? No, some low or even no upfront investment franchise or business opportunities can represent very high earnings potential. So why would a franchise business sell it a low cost even if the earnings potential was high? Well the initial franchise is generally determined by the cost to set-up which includes training, equipment, product and premises not the actual earnings potential. Sure sometimes with a recognized brand just the area alone will have a impact on the price as the largest the franchise area or territory, the more business will be obtained. That said that’s generally not the case for less known brands or new brands and if a franchise requires a lot of franchisees to provide national coverage and set-up costs are quite low then many will have an initial fee of under £15,000 to try to recruit as many franchisees as quickly as possible to grow their brand and provide a better service to their customers.
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