Expanding into a new market can be a great way to grow your business, but it takes a disciplined process to accurately assess the potential of a new market and the potential benefits for your business. If not done carefully, it can be a risky proposition for you and your business. But as more energy markets become deregulated, you may find yourself considering an expansion into these new territories.
Before you begin moving into new markets, you should ask yourself some questions, and be completely honest with your answers.
Will your current operation be able to handle the stress of an expansion? If your energy brokerage is looking for customers in new markets, that means you’re going to have to spend more time and resources that you may not currently have. Is it possible that you can cover the expansion with the employees you already have, or are you going to need to expand your team to make this work? Carefully analyzing what you’ll need to move into a new market is critical to whether or not your expansion is a success.
What market offers the most potential? Diligently researching all your options will help make your decision easier. Your options will obviously be limited to states that have deregulated their energy markets, but that doesn’t mean you’ll automatically have success in a new area. Markets should be prioritized based on their strategic fit, as well as your ability to serve them. Finding a new market that is right for you isn’t a simple matter that can be taken lightly. And that leads us to our next question.
Who will be there to help you? You’re going to need some kind of option for entering these markets successfully. At BOX, we’re confident that our business managers, along with our state-of-the-art EnergyEngine platform, are exactly the help you need to enter new markets and expand your business.
BOX helps you accomplish this in a variety of different ways. Most importantly, we give you access to our entire list of suppliers in all markets, so that you can level the playing field and navigate the large commercial segment of businesses customers. Our premier status relationship with suppliers means that we can access lower rates, better products, and faster quote turnaround, and you get the dedicated support you need. With access to our large network of suppliers, you can expand into markets and territories you never thought possible.
And with EnergyEngine, you can stop wasting time dealing with the complex contracting process. EnergyEngine can reduce your contract submission time by 50%, letting you track the status of contracts in real time and have them automatically validated. At BOX, we take care of the administrative details, and allow you to get your customers the best prices—in whatever market you choose.
If you would like to learn more about EnergyEngine and the BOX difference, contact Brokerage Online Exchange today.
