The Money Collectors Franchise
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.
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.
– 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.