Franchisee Opportunities For Growing Reciprocal Trade Network

Nov. 30, 2009 - PRLog -- Reciprocal trading network BBX has recorded a 20 per cent growth in the number of transactions between members as a result of the economic downturn. This growth has opened up opportunities for new franchisees in regions with strong membership, like Canberra.

Currently there are 70 BBX members in the Canberra region, with businesses ranging from wholesale to retail. BBX is a reciprocal trading network that enables members to increase their business by trading excess stock or downtime while at the same time conserving cash flow.

According to James Brennan, who owns and operates the Liverpool and Western Sydney franchises, Canberra is an ideal BBX market.

“Firstly there’s already an existing member base but it’s also a diverse business community with lots of potential for a strong trading network,” said Brennan.

Brennan, a BBX member for seven years took up the Western Sydney franchise in mid 2005 and the Liverpool franchise in late 2008. Collectively he looks after 200 members, comprised of 50 corporations and 150 SMEs.

“We focus on growing the member numbers in the area but we also concentrate on creating good client relationships and educating members how they can best use BBX for their business. It’s an interesting business as I meet many different people from many industries every day. I’m always surprised by how creatively some members are using BBX.

“Becoming a BBX franchisee was a good move. I’m able to provide a financially stable lifestyle for my family and that’s really important to me. Using BBX we’ve been able to renovate the family home using BBX tradespeople,” added Brennan.

Currently BBX has a number of franchisee opportunities in markets with strong membership bases, including Wollongong and Wagga Wagga.

On average, each franchise has 150 members and turns over approximately $500,000 in trade each month.

BBX is a membership-based trading network where members earn and spend BBX dollars, a trading unit which has an equivalent value to Australian currency. In essence, the exchange acts as a third party record keeper, similar to a bank, and provides a sophisticated market where thousands of transactions take place on a cashless basis.  

BBX has offices throughout Australia and operates in New Zealand, India and Costa Rica through a master franchise, with plans to establish more international franchises.

Members in Australia and New Zealand traded in excess of $200 million in the financial year ending 30 June 2009, averaging $33,000 per member.

For more information on BBX call 1800 222 229 or visit www.ebbx.com.

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