The UK’s largest business-to-business trade exchange, Bartercard, is planning a large-scale nationwide expansion via franchising, tapping into the increased appetite for bartering and franchise ownership across the country.
Over the next five years, the company is set to appoint around 200 new business development consultant franchises, which will be tasked with recruiting new Bartercard members, and 40 district brokerage franchises, which will facilitate trading across the UK and Ireland.
Bartercard is seeking business people with strong sales and management experience. Those selected to own franchises will be provided with a comprehensive training programme along with on-going administration, management and marketing support.
Bartercard enables members to utilise their spare capacity and to source the goods and services required to run or expand their business whilst protecting their limited cash reserves. This is particularly valuable at a time when banks are being criticised for refusing to lend to SMEs.
Bartercard not only allows members to preserve cash by providing an interest free line of credit, but also boosts revenues and profits by introducing new customers to businesses. For instance, a restaurant can fill empty tables by advertising meals among the Bartercard network. If a restaurant fills an otherwise empty table in this way, it can spend the Bartercard trade pounds it earns with any other member, which could mean covering the cost of anything from printing menus to buying new kitchen equipment – while keeping cash within the business.
Whereas, in the cash world, excess inventory or capacity might be disposed of through discounting or written off, bartering allows the full retail value to be charged in trade currency.
“The current business landscape is driving our expansion – we’re tapping into a powerful synergy between business owners’ desire to preserve their cash reserves and sales and marketing professionals’ increasing appetite for owning and running their own franchise,” explains Simon Barker, CEO, Bartercard UK.
“There’s a virtuous circle in place – we want to expand, businesses across the UK requiring our services will benefit from our expansion and experienced sales and management professionals want to run their own franchises, facilitating our expansion.”