Former banker Richard Hunter has changed his career by investing in an Expense Reduction Analysts franchise.

When Hunter, who previously worked as a Corporate Director for Barclays, first started looking into franchising he was considering Expense Reduction Analysts and one other cost reduction company. Hunter said: “In comparing the two models, I felt that Expense Reduction Analysts had a wider cost base expertise, whereas the other opportunity had a narrower proposition which was much more confined to just utilities. I also felt that the systems and process were more advanced within Expense Reduction Analysts, that the whole set-up was more professional and ambitious. This feeling was certainly borne out by my experience of raising finance, I was aware that the Expense Reduction Analysts name is respected in the leading world.”

Hunter began his training in July 2010, describing the support he was provided he said: “The training was extremely thorough. It obviously has serious intent. Historically, the network has relied upon a simple, traditional telemarketing approach to create a pipeline. The market also requires a sophisticated approach where we leverage of existing relationships, clients testimonials and success stories to deliver warm referrals.”

Hunter found that the mindset he gained from his previous career helped him when he became self-employed, he said: “The lifestyle was not a shock to me. I was encouraged to work from home during my time with Barclays so I already had the home office infrastructure and mindset in place. In the beginning of my career with Expense Reduction Analysts, it became clear that it takes time to get your client base in place and to market your business in the early days.”

Now with his business up and running Hunter is looking towards the future. “I do expect significant business to emerge,” he said. “I aim to develop one or two major clients in order to deliver sustainable income. This will lead to referrals into other organisations. Ultimately, I want to recruit someone else to take on some of the client management work that is required as a result.”

For those thinking about buying a franchise Hunter said: “Cash is king. You have to be very realistic about how long you are prepared to carry on without income. If you are targeting large clients with complex needs, it can take time to make progress, but if you are prepared for that, then the infrastructure and opportunities certainly exist.”

Published: 30 September 2011

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