MEDIA RELEASE 03 December 2009
Franchisee opportunities for growing reciprocal trade network
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, 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
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
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
Released for BBX by Dennis Rutzou Public Relations (www.drpr.com.au)
For further information please call Joanna Gitsham or Nicola Rutzou on (02) 9413