Recession Sparks Franchise Boom for No1 Currency

Edinburgh, United Kingdom (PressExposure) February 11, 2009 -- 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 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.”

About No1 Currency

Issued on behalf of No.1 Currency by LLLink at Forth House, 5 Johns Place, EH6 7EL.
Contact Emma Sykes on (0131) 561 8416 or

Notes to Editor:
Founded in 1996, Edinburgh-based No.1 Currency is the UK’s fastest growing independent foreign currency specialist.

No1 Currency is accessible to all, providing safe and secure worldwide money transfers for individuals and corporate clients, as well as competitive Bureau de Change services.

No1 Currency offer a range of products to cover corporate clients currency needs, from immediate Spot Price contracts to longer-term Forward and Time-Option Forward contacts, as well as a Limit or Stop Loss Order which protects businesses from adverse currency movements.

No1 Currency Bureau de Change is one of the largest chains of bureaux in the UK, with 272 outlets across the UK offering 0% commission on currency exchanges. This franchised Bureau de Change services can be found in Cheque Centre, Cash Generator and Barrhead Travel stores throughout Scotland.

In 2008 No1 Currency was shortlisted for the Ernst and Young Entrepreneur of the Year 2008 prize.

For two years running No1 Currency has been listed as a Sunday Times Fast Track 100, making 54th place in 2008.

With plans for further growth including doubling size of its Bureau de Change network over the next year and building a greater market presence south of the border, this Edinburgh-based Foreign Currency Specialist is paving the way to become a global leader.

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Press Release Submitted On: February 11, 2009 at 6:14 am
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