Uncapped earning potential and brilliant incentives

Helping people out of debt is a rewarding venture for EuroDebt franchise owners as Paul Sowerby explains

Job satisfaction and an improved work/life balance giving him more time with his family have been the rewards of becoming a EuroDebt franchise owner for Paul Sowerby. Now in his second year with the franchise, Paul is working towards an annual turnover of £100,000.

"Joining EuroDebt and working as a debt advisor has been a real role reversal," explains Paul. "This is because I am now helping people manage and pay off their debts, where as before, when I was a Bank Manager I was encouraging people to get into debt.

"Working as a Bank Manager was frustrating because I worked long hours and often had to work weekends, so rarely got to spend any quality time with my family. I reached a point where I could not face working for someone else's gain and so decided to research new ventures where I could work for myself. Graham Dennis, the Franchise Director for EuroDebt, was a close friend and he suggested I think about investing in EuroDebt, especially considering my background in financial services."

After reading the EuroDebt prospectus and talking to existing franchise owners, Paul was eager to become involved with the debt management franchise. "I liked the fact my earning potential was uncapped, I could work from home and help people in the process," enthuses Paul. "So I decided to launch my franchise in November 2007, which covers Lincolnshire, South Yorkshire and Humberside."

As part of the franchise package, all EuroDebt franchise owners go on an in-depth four-day training course at head office before launching their franchise. This ensures they have the skills and knowledge required in order to be able to run their franchises effectively.

In terms of support, all franchise owners receive personalised support from their Regional Development Manager, who helps them to launch their business, accompanies them on client visits and is on the end of the phone to resolve any issues. "We also have an annual meeting and a regional meeting every three months," continues Paul. "These are great opportunities to meet the other franchise owners, brain storm and swap sales techniques.

"From day one I have had a steady stream of business from leads generated by head office and myself. To keep franchise owners motivated, EuroDebt runs incentives throughout the year. Last year, I smashed the sales target and joined a few other successful franchise owners on a super-car driving day on the Yorkshire Moors. This was an excellent reward as we all had the opportunity to drive cars such as a Lamborghini, a Ferrari, an Aston Martin and a Porsche. These incentives are brilliant and I am determined to qualify for the next one, which is a weekend away in London and a night at the Proms."

Interview by Jess Sturman