Originally posted on 12/10/2017. Updated on 06/05/2019.
While many people might not understand the full significance of the B2B industry, it plays a huge role in the modern economy. B2B (business-to-business) companies exchange products, services or information with other businesses. These can be separated from the B2C (business-to-consumer) category of companies, which offer their products to the general public.
In recent years, B2B businesses have become an area of intrigue for entrepreneurs and prospective franchisees, as they recognise the benefits of the B2B industry. So, let’s take a look at it in more detail. What makes it so popular among franchisees and how can you get a slice of the action?
- What is B2B Marketing?
- B2B E-commerce: How Can You Do It Yourself?
- B2B Sales: Start Your Own Business
- B2B Enterprise: Create a Franchise
- B2B Examples: Franchising?
- B2B - What is it?
The Advantages of a B2B Franchise
B2B businesses attract stable and long-lasting client relationships. Businesses often want specific things from their suppliers, so once they have found one, they are likely to continue using their services, rather than going through the rigmarole of switching to another supplier. This is very different to individual customers, who are less likely to be loyal to one company and often switch up their shopping habits, experimenting with different retailers and service providers.
Most B2B businesses do not need retail premises or a large advertising budget. This is because they don’t have to entice customers. The comparative loyalty of business clients means that B2B businesses can get on with providing the best service they can without having to worry about promoting the brand, saving them money on rent, utilities and advertising.
Many B2B businesses entail traditional working hours. While the joys of flexible working are being recognised by an increasing group of young workers, the simplicity of the traditional working week can be a blessing when it comes to B2B businesses. While B2C companies might work long hours to cater for members of the public who are at work during the day, B2B companies’ clients are other businesses – the workforces of which probably work nine till five too – allowing employees to clock off at a good time.
B2B business owners can develop a portfolio. Because B2B companies are likely to trade with a variety of different clients, they can create a portfolio of services that are tailored to each client. This will be useful when attracting new clients.
Franchising with a B2B Business
Like all franchisees, B2B franchisees can benefit from the franchise’s tried and tested business model. This decreases the risk of the business failing as the company will have already established what works and what doesn’t. Also, B2B company franchisees can take advantage of the franchisor’s buying power, getting stock at the best prices.
How to Choose a Good B2B Franchise
While there are B2B opportunities for franchisees around almost every corner, not all franchises are created equal. It can be difficult to work out which franchises are worth looking at.
This is where we come in. Point Franchise gives you all the insight you need to be able to make an informed decision as to which franchise is the best for you. Supported by news bulletins, in-depth articles and advice from our team of experts, we leave no detail to chance when it comes to your success. Point Franchise helps to bridge the gap between franchisor and potential franchisee, but we are so much more than a simple recruitment portal. We give you the chance to scrutinise opportunities before you get involved.
Franchisors, on the other hand, can make sure their franchises are seen by the right people. Instead of scatter-gunning, we target the appropriate candidates and moderate enquiries in advance so that the only applications franchisors receive are from people who fit the bill.
When choosing a franchise, entrepreneurs should also look out for ones that are accredited by the British Franchise Association. This is the governing body that regulates franchising in the UK and evaluates franchises to find out whether they adhere to the association’s high standards.
Auditel is the UK and Ireland’s leading provider of strategic cost management and boasts an award-winning management programme. When franchisees come on board, they can benefit from the franchise’s positive reputation and access to ongoing training and support. Furthermore, franchisees do not need to source their own premises. Many Auditel franchisees renew their contracts with the business, which suggests that they achieve their professional and financial aims and are keen to continue working with the brand.
The Expense Reduction Analyst
The Expense Reduction Analyst (ERA) franchise is another B2B business that’s worth considering. Recognised in over 30 countries, ERA caters to a diverse market. It also gives franchisees the opportunity to bring their own skills to the table and work within a specialised field. Like Auditel, ERA offers ongoing support and training. It’s also worth noting that it was named the Best Business Franchise at the Global Franchise Awards in 2018. In an industry as competitive as this one, an award-winning business indicates a company well worth its salt.
The Alternative Board
The Alternative Board has also gained an enviable reputation for being one of the UK’s best B2B franchises. What sets it apart from the competition is its long-term vision: Alternative Board franchisees can expect to expand their business quickly and efficiently and choose who they want to work with. An associate of the British Franchise Association, it offers ongoing mentoring as standard and there are monthly and bi-annual conferences, at which franchise owners can make new contacts and benefit from further learning opportunities.
Taking on a franchise in the B2B sector can be an extremely rewarding experience, allowing you to develop a small pool of loyal clients and concentrate on providing the best possible service while enjoying traditional working hours and saving money on rent and marketing expenses. See our B2B business directory for more great franchise opportunities.
Alice Tuffery, Point Franchise ©