Innovative scheme will allow investors to fund an area development or master franchise licence
A new initiative launched by Fantastic Services will enable people to invest in one of the company’s franchises by trading in their digital currency, in what the domestic service provider says is a first-of-its-kind programme in Britain.
The scheme will allow new franchisees to fully or partially fund an area development or master franchise licence with Bitcoin and other recognised online currencies, allowing them to start their own business in anti-viral sanitisation, cleaning, gardening, handyman, pest control, removals and other property services.
Owners of online currencies like Bitcoin will be able to acquire a franchise licence for a minimum of 0.5 BTC or 10 ETH, with no strings or network transaction fees.
Fantastic Services franchise licences start from £15,000.
Rune Sovndahl, co-founder of Fantastic Services, says: “Digital currency is a vicious circle and we want to help people who are stuck in a loop by offering them the chance to cash out their currency and use it to purchase something tangible that will provide a sustainable income and help break the chain of cryptocurrency.”
A recent report by Finder.com claimed more than a fifth of Brits have invested in cryptocurrency, with the number of people who have bought cryptocurrency in the UK increasing by 558 per cent since 2018.
“We’re all been through a very challenging 12 months, with a lot of volatility in the market,” Rune says.
“It’s no secret that soon all £1k-plus cryptocurrency transactions will become taxable and that the future of digital currency is clouded with uncertainty.
“With limited options on how to exchange digital currency into tangible assets, we feel the best solution is to use the currency to help start a real-world company, which is exactly why we have refreshed our model to accept cryptocurrency payments.
“We aim to enable people to spend their digital earnings by buying a business that can deliver real-world returns, break the chain of digital currency and start earning cash through their own franchise.”