MEDIA RELEASE 13 January 2009
BBX to launch 11 new franchises
Trade exchange company, BBX will open 11 new franchises across the country in
the coming months, showing that there are growth areas despite the current
uncertain economic climate.
BBX, a membership based cashless trading exchange, has been taken up by over
6,000 businesses in Australia and New Zealand, as an effective way to increase
sales, stay competitive, while still retaining a healthy cash flow.
The BBX franchises will open in five states. The NSW franchises include Central
Coast, Newcastle, Coffs Harbour, Bankstown, Ramsgate, North Parramatta and
Mosman. Other franchises include Gold Coast, Perth, Geelong and Hobart.
"The BBX network has continued to grow despite the economic downturn. This
growth is seen in an increase in franchisees, members and the level of trading
between members," said BBX CEO Michael Touma.
"The reason for this is that people are discovering that barter is by far the
best medium to fight a recession where cash dries up, sales drop and dead stock
and inventory becomes harder to liquidate which can create huge losses.
"A BBX franchise aims to build a healthy, community based trade exchange network
by growing the number of BBX members in an area. BBX is all about helping
businesses grow and it has definite benefits. For instance, BBX can help a
business attract additional business, maintain a healthy cash flow and even
provide an interest-free line of BBX credit to help expansion," added Touma.
BBX is a membership based trading program whose primary role is to generate new
opportunities for all types of businesses and to show business owners how to
offset many current cash expenses by utilising the down time and idle inventory
in their business.
In addition to business-to-business trading, BBX also offers members a range of
value added services to further utilise their BBX income. These include BBX
Insurance, BBX Money, BBX Real Estate, BBX Financial Advisors, and the BBX
Property Investment Fund.
The trade exchange uses BBX dollars, a currency unit having equivalent value to
Australian currency, to assign value to the transactions that take place between
member businesses. In essence, the exchange acts as the third party record
keeper, similar to a bank, and provides a sophisticated market where thousands
of transactions take place on a cashless basis.
BBX Holdings Limited listed on the ASX in August 2005, becoming the only
exchange in the world to be publicly listed on a main board.
BBX has offices throughout Australia and operates in New Zealand, China, India
and Costa Rica through a master franchise, with plans to establish more
international franchises. Globally these are over 300,000 BBX members.
Members in Australia and New Zealand traded in excess of $192 million in the
financial year ending 30 June 2008, averaging over $33,000 per member.
BBX can be contacted by phoning 1800 222 229 or visiting
www.ebbx.com.
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
4244.
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