Here’s how you can get the best start in the energy brokerage business
There really have never been more opportunities in the energy business, thanks to the deregulation of markets across the country. While some states have kept the regulated business model, many others have opened up competition between energy suppliers in a bid to lower prices for the energy consumers. Unfortunately, this isn’t always the easiest market for consumers to navigate. Prices fluctuate from day to day, and locking in a contract that best suits a business or homeowner’s needs can be tough without out the proper guidance and information.
Energy brokers provide the link between the supplier and consumer, and work to get the best possible contract for their clients. The opportunities for growth in this industry are incredible, and energy brokers come from many different backgrounds and previous careers. So how do you become an energy broker, and what’s the best way to get started in the business? We’ve got the basics down for you.
- There are a couple options open to you for becoming an energy broker and getting started in the industry. First, you’re going to need to research the requirements needed to start an energy brokerage in your area. In many cases, you are going to need training and licensing before you can open your own brokerage. You also need to research the regulation status of electricity and natural gas in your municipality, as well as the suppliers that compete there.
- Once you decide to open your brokerage, you will need to register your business with local government for tax and licensing purposes.
- After you are legally ready to do business, you will have to contact suppliers and arrange a contract that settles the terms under which they will supply your company with electricity.
- Next, you’ll have to find clients that your business could serve. Look for potential leads that will have a significant energy need for a long time down the road. Your job is to supply your clients with energy for the lowest cost based on your list of suppliers.
This might sound very simple, but it isn’t quite as easy as you think. Many websites make it seem like starting your own brokerage is a breeze, but you may end up having trouble getting your business off the ground. Luckily, at Broker Online Exchange, we have the energy management tools you need to get your business up and running.
Our EnergyEngine is the world’s most sophisticated point-of-sale, contract sourcing, management, and compliance tool. With BOX, you’ll have up-to-date prices and a streamlined contract process to help you track the status of contracts in real time and have them automatically validated. You’ll be able to keep your customers informed at every step in the process, and you will be working with dedicated account support and cutting edge technology.
If you’re interested in starting your own energy brokerage business, contact Broker Online Exchange today, and see how our dedicated business managers and state-of-the-art technology can jumpstart your energy brokerage.