Andrew Reynolds Cash On Demand (part nine)
Description:
The film crew who set Andrew Reynolds the challenge to pull in £500,000 in a week — then need to obtain third party confirmation of the money raised. A visit is therefore made to an independent team of financial auditors to check the figures and provide professional ‘proof’ of the money raised. The auditors confirm that the total income is around £550,000 — with a net profit approaching £half a million! The Cash On Demand challenge to Andrew Reynolds, to generate £500,000 in a week has been met!
Transcription:
The moment of truth. Andrew Reynolds meets the auditors for verification of the figures.
Reporter: Right Andrew, I’d like to introduce you to a couple of the independent auditors that we’ve got in for this investigation. We’ve got Guy sitting here. And also Nick. Gents, this is Andrew Reynolds. I’d like you, if you wouldn’t mind, to check through this little lot.
Andrew Reynolds: I see Reporter’s been following me around for the last few days with these guys. And we’ve been actually downloading the orders onto my laptop. That’s the easy thing to do. What I thought I ought to do really is print it all off and give you guys something to go through, so there’s some sort of meat on the bone.
What I’ve done, we called in to the fulfilment house here and we’ve picked up all the orders. These are literally all the orders that…I think these are some of the ones that came in last week. You can see the credit cards slips and everything in here so you can see the payments have gone through. Those have actually been charged and the goods have actually been shipped to the customers already.
And I also asked them to produce copies of their daily sales reports. There are a number of different products going through on here but you’ll be able to pick out all the ones which are my project here. So you’ve got a sales report there for Friday, Thursday and Wednesday of last week which is this period that Reporter and I have been working together. And you’ll also see, on the back here, that’s the printout from the credit card terminal as well. So you’ll be able to match up the payments.
Reporter: There we are chaps. I’ll leave it with you. Good luck. Now we started with this project last Wednesday. We kicked it off last Tuesday but we set the target last Wednesday, didn’t we? That target was what, again?
Andrew Reynolds: That target was…You wanted me to pull in half a million pounds worth of sales in seven days.
Reporter: Okay. Well, these guys are going to tie that all up. Will the sales still keep trickling in? We’re going to get a figure in a moment but…
Andrew Reynolds: I mean, in fairness, we’re only five days from when we started. So technically, I’ve actually got a couple more days left but what the hell? Realistically there’ll be a few more orders will come into the fulfilment centre over the phone. There’ll be a few by fax. Maybe a few will come in the post as well because some people prefer to send it in the post. So there’ll be another…I don’t know…maybe 40, 50,000 pounds worth of sales all trickling in in the next couple of days.
Reporter: Can you confirm that these are legitimate sales figures, not some spurious figure pulled out of the atmosphere. Are they real figures?
Auditor 1: Yes, I can confirm that these are. From what I’ve seen so far, the payments have been received for these. And the product have actually gone out.
Reporter: And proof is you’ve got the credit card slips on them as well. How do you feel at this stage? You sit here; you’ve got the auditors, a couple of independent guys in front of you, going through your figure work. How do you feel? Do you feel nervous?
Andrew Reynolds: Apart from getting the final total, which I’m desperate to know just to see if you’re buying lunch or I’m buying lunch, I’m reasonably happy because there’s nothing to hide here. Each of these orders is worth money and…
Reporter: How close are we to a figure, Nick?
Auditor 2: Well, we’ve got some preliminary figures based upon the results which we’re actually checking. But it looks like reported income at the moment of 550 thousand.
Reporter: That’s total income?
Auditor 2: That’s total income, yes.
Reporter: Just have it again. Five hundred and fifty thousand pounds. Five hundred and fifty thousand pounds. Amazing.
Auditor 2: Five hundred and fifty thousand pounds.
Andrew Reynolds: In excess of half a million quid.
Reporter: But we’ve hit that target.
Andrew Reynolds: You’re buying the lunch, I think.
Reporter: Looks like lunch is on me. But you’ve hit that target. How do you feel?
Andrew Reynolds: That’s excellent. That’s come in perfectly.
Reporter: What is total profit?
Auditor 1: Total profit on that figure, projected, is 490,000. Give or take a few hundred pounds.
Reporter: That is such an impressive figure. I mean, we’ve hit that target in less than seven days. In almost five days, if you like.
Andrew Reynolds: In five days, yeah. So give it another couple of days and we should get to half a million at profit on the thing.
Reporter: Do you know, when I started this project I was hoping, being an investigative journalist, to unveil some scam, some rogue, some guy dripping with gold. You’re quite plainly not your…you’re quite plainly, a plain sort of guy, if you like. I mean that in the nicest possible way. But you’re a nice guy. You’re not dripping with gold. You’re very modest with it. And this is a legitimate business. Can anybody do this project? Could anybody, if they put their mind to it, really do this?
Andrew Reynolds: Yeah, I don’t want you to be under the illusion that, I mean, we said right at the start when you first tackled me about this, this isn’t one of those get-rich-quick scheme things. Where you do absolutely nothing and all this money turns up. That’s not reality. This is a real world business. And like any real world business, you’re going to need to take some action to make this thing work. But if somebody’s prepared to actually study the thing, to learn the business model and to take the right action, there’s no reason why anybody, having followed what I’ve actually taught them to do, couldn’t start doing this, yeah.
Reporter: Couldn’t see the money come flowing in like you did? Because it literally is flowing in, isn’t it?
Andrew Reynolds: It is…it’s been flowing in fairly well. Half a million quid in less than a week. Yeah.
Reporter: Well, lunch is on me. Congratulations.
Andrew Reynolds: Good. Excellent. Thank you very much.
In less than a week Cash On Demand marketer Andrew Reynolds pulled in over £500,000 under the watchful eye of a full TV camera crew and reporter.