EuroDebt: 'Earning potential is impressively high'

With total UK personal debt exceeding £1.2 trillion, demand for Pentagon's (trading as EuroDebt) debt management services is increasing every day, reports Rachel Spaul

Are you personable, professional, and comfortable meeting a wide range of people face-to-face? Do you want to become the owner of a business where the work you do each day makes a real difference to the lives of people living in your community?

'€uroDebt is the UK's largest face-to-face debt management company, and is this year marking 10 years of providing personal debt management services to customers,' remarks Graham Dennis, €uroDebt's National Sales Director. 'We have helped many thousands of people regain control of their finances without borrowing more money or putting their homes at risk.'

According to €uroDebt, debt is a 'growth problem' that requires personable, empathic and professional people with good interpersonal skills to provide the solution. 'Helping people manage their debt problems is hugely satisfying,' Graham reveals. 'Whatever the problem, we provide understanding and support as well as helping clients to find manageable solutions. In the short-term we release our clients from creditor pressure and in the long-term we save them money.'

Unmanageable debt can bring potentially devastating consequences to families and individuals through stress, repossession and foreclosure. Therefore debt management is a highly sensitive subject that requires a sensitive approach. Franchisees need good interpersonal skills, must be empathic and comfortable meeting people face-to-face. They must also have the ability to take charge of a situation, be professional and well organised.

Franchised in 2001 to provide a national personalised service for people experiencing debt, €uroDebt has grown its network to 65 franchisees, who are licensed debt adjusters trained to assess and offer advice on the best way forward. Franchisees make an initial visit to customers to assess their financial situation. They will then compile financial evidence to support the case and pass it to the €uroDebt team of Account Managers and Legal Advisors who will negotiate with the client's creditors.

Based on its many years of experience of debt management and franchising, €uroDebt has developed a training and support package that utilises the knowledge and experience of existing franchisees. 'Franchisees participate in an initial four-day residential training course where they are introduced to €uroDebt, debt management, and debt counselling,' Graham reveals.

'This is complemented by one month of mentoring from an experienced franchisee including a training de-brief and accompanied client visits. Once the new franchisee has completed their first 10 cases, they are assigned a Regional Manager, who will provide motivational and moral support.'

€uroDebt is well qualified to support franchisees as they build their own businesses in this growth industry. Leading the franchisee support team is Graham, who has substantial experience in finance; John Mills, National Franchise Coordinator, who also has extensive experience in finance; and Vance Parsons, Franchisee Development Manager, who has several years of experience in the debt management sector.

Franchisees are also supported by a call centre, which generates initial leads, and a team of account managers and legal advisors, who regularly succeed in securing full and final settlements for a fraction of the total amount owed to clear the debt. 'Every case earns the franchisee an initial payment and a monthly residual income based on what the client can afford, calculated on their income and expenditure, and a percentage of the payment to each lender,' explains Graham.

'Franchisees can potentially turnover in the region of £60,000-£70,000 per year. Some of our franchisees are achieving turnovers of £200,000 plus. The amount franchisees can earn depends on the individual, and their commitment to the business, but compared with an initial investment of just £21,950, the earning potential for this business is impressively high. With total UK personal debt exceeding £1.2 trillion, demand for our services is increasing every day. Many people still don't understand the principle of debt management so we're seeking professional franchisees to guide them and ultimately to help them 'stop worrying and start living'. We are keen to hear from individuals nationwide.'