Testimonial/Feedback

I bought a CAL Systems package in May 2003 to add to our companies which specialise in publishing, printing and property. I was searching for a business to start that would meet the following criteria which were important to us in this choice;

1. It must allow me flexibility with my time, so that I can work when I want to and not
    when I want to be away.
2. It must be easy for staff to run for periods with oversight from afar.
3. We must be able to invest money from our other businesses into it, to give us an
    ongoing and growing income.
4. It must have no limitations to growth.
5. It must be able to give a strong return on capital.
6. It must be suitable to be run throughout our retirement.
7. It must fit the cashflow demands of our other businesses.
8. It must not be a 'fad' business.
9. It must be unlikely that later rule or law changes could significantly diminish my earning
    potential in future.
10 It must leave my weekends free.

This is obviously a fairly formidable list! I looked at many existing businesses as well as businesses I might start before thinking of looking in the franchises. There I found CAL, which looked too good to be true but I checked it out thoroughly. It met my criteria and seemed to have the potential to be as good as my skills allowed it to be, so I decided to give it a go.

To date, just three months in, I have made 160 loans to over 100 clients. I have made a total input of $105 000 (including costs except the purchase of the business), and have recorded a gross profit potential at this stage of some $60, 000. I receive approximately $5000 a week in repayments which has meant I am close to reaching equilibrium - almost only loaning out what comes in. I am just now trying to decide whether to carry on investing money into the business and growing it fast, or whether to hold its base investment at this level and let it grow more gradually. On that score, as on pretty much all of the decisions, it is entirely my call, which I like.

I am working about 30 hours a week on this business and at this stage I have not employed any staff, though I am about to do so shortly. I have not yet drawn a salary at this stage either, though I could have, had I needed to.

I have found that the business is interesting, quite varied and definitely a personality-based business. I have met a very broad range of people and by treating them well, have had very strong word-of-mouth referrals so that the cost of advertising has been very low indeed - about $20/week. My cellphone bill (I use this as I am out and about seeing clients a lot) and bank fees (it costs to do almost everything at my bank) are of course somewhat higher than I have been used to.