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Demand for credit seems to be an ever-growing market, highlighted by the West's obsession with paying for everything on plastic cards. Card spending in the UK, for example, continues to soar and a cumulative total of £470 billion was spent by Britons on cards in 2005 according to research undertaken by independent market analyst Datamonitor this month.

Before embarking upon a financial business venture it would be advisable for the prospective franchisee to take a critical overview of their personal strengths and weaknesses in order to determine whether or not this type of franchise opportunity would be best suited to skills that a franchisee has.

Initially, it would be highly beneficial to speak to existing franchisees to gain a greater insight into the workings of a franchise per se, and of course, speaking to the franchiser themselves would also be a recommended starting point. Professional advice from an accountant regarding projected income and the logistics of such a business venture would also prove to be invaluable.

Presuming that a financial business franchise is the chosen route, the door will open to a potentially lucrative market that helps form the backbone to a country's economy.

Financial franchises are diverse and can incorporate anything from internet stock broking to payday loan deals. Though a financial background is not a necessity for this line of work, it is definitely a good basis for development and something to think about.

It must be remembered thought that a reputable franchiser will offer extensive and ongoing training and support, making the plunge into the financial business world go as smooth as possible.

As far as franchising costs are concerned, Mark Scott, national franchise manager at NatWest remarks: "As a guide, the average franchise fee is £20,000, although this is skewed in view of a small percentage of higher figures."

An example of a reputable financial business franchise is SecurePay, a company that caters for individuals who do not have bank accounts or use credit or debit cards. According to SecurePay, 33 million Americans do not have a bank account. Taking advantage of this huge market, the company allows customers to pay their bills using Secure Payment stores. The franchisee makes their money on every transaction that is processed using their SecurePay payment system.

By working in harmony with the franchiser, the franchisee can realise their personal business goals within a time-honoured framework. A great advantage of a franchise in general over a conventional start-up would be that the franchisee is afforded the franchiser's brand, reputation and resources and so can therefore minimise risk by utilising a business model that has spawned previous success.

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