MEDIA RELEASE 21 January 2009
Trade exchange franchise to open in Mosman
Trade exchange company, BBX will launch a new franchise to cover the lower North
Shore and North Sydney area in February to service the growing number of BBX
members in the area. The new office is one of 11 franchises opening across the
country.
"There is a lot of local support and BBX involvement in Mosman and also the
North Shore area which has over 600 active members in industries ranging from
mechanics to sign writers to florists," said BBX CEO Michael Touma.
The new franchise will be owned and operated by Ian Turner, a North Shore
resident for over 30 years.
"I discovered BBX about 12 months ago and became a member. I was looking at
beginning a business in the local area and when the opportunity of a BBX
franchise came up I jumped at it. BBX works really well in communities like the
North Sydney and the North Shore as it's all about building extra business and a
strong local economy," said Turner.
"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 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. On average, each franchise has
150 members turning over approximately $500,000 in trade dollars each month.
Some of our franchisees have an annual income in excess of $300,000.
"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.
In 2009 BBX is planning to open 11 franchises in five states around Australia.
The NSW franchises include Mosman, Bankstown, Ramsgate, North Parramatta, Coffs
Harbour, Newcastle and northern Central Coast. Other franchises include Brisbane
South, Perth South, Geelong and Hobart.
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.
Ian Turner can be contacted by phoning 0425 264 307.
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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