Recession Sparks Franchise Boom For No1 Currency

Allmediascotland:

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.