The truth behind becoming a broker

More than two thirds of businesses value the specialist help they get from their energy broker, according to a 2013 survey from OfGem. This statistic makes the prospect of becoming a broker increasingly appealing but the energy sale solutions that are currently saturating the market can seem confusing and sometimes conflicting. Whilst a sales intermediary service is typically the bedrock of an energy sales business, there can be many strings to a company’s bow and the role of an energy broker can now comprise of many different facets, including energy management consultancy.Rising energy bills, tough economic conditions and environmental pressures – the business case for having an energy management strategy has never been clearer, yet many businesses don’t know where to start. By stepping into the role of energy consultant, you can help to add a profitable new revenue stream to a business, improve customer loyalty and start helping customers save money today. So, first off let’s clear up the main differences between an energy broker and energy consultant that tend to confuse the uninitiated:

Energy broker:

•Usually carries out a one-off pricing exercise when contracts are due for renewal. This means that they are more likely to provide the best rate ‘on the day’ as price comparison checks must be made on the same day as the enquiry.

•In terms of payment, brokers are paid a commission by the energy companies which will vary from supplier to supplier.

•The more suppliers a broker represents, the greater the potential to obtain better prices.

Energy consultant:

•Consultants tend to monitor the energy markets all year round and so are better placed to advise the best times to purchase energy for the best rates.

•Will often offer to provide support and advice for an energy portfolio in short or long term agreements.

•Tend to work on either a flat-fee rate or contingency basis.

If you want to become an energy broker that forges good relationships with the big name suppliers then they will generally look for the two implicit promises that, as a respected broker, you should always make to your customers – to never misrepresent yourself or the supplier and to always allow your customers to see and understand the fees that you charge.

In an attempt to maintain standards within the industry, some suppliers are joining the Utilities Intermediaries Association which is a trade body for energy brokers. If you want to become an energy broker then this body highlights the standards that you should consistently be working at.

In attempting to understand exactly what an energy broker is and does, it is probably easiest to learn this by knowing the one thing that a broker is not – somebody who supplies the energy. Brokers do not own or distribute the energy and cannot sell energy directly to the consumer; they procure the rates from suppliers and assist their customers in making the most well informed choice that they can when it comes to purchasing energy.

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Blog Source:- http://onlinedirectuk.wordpress.com/2014/12/08/the-truth-behind-becoming-a-broker/

How to work smart as an Energy Broker

If you work as an energy broker you’ll be well aware of how many hours you can lose to admin tasks alone. Maybe you’re constantly chasing energy suppliers for updated prices, or to see where they’re at in relation to a particular contract. Whatever it is that’s slowing you down, it’s easy to understand your frustration. So just how do you start working smarter in the world of energy brokering?  Here’s how…

Connect

If you’re wasting too much time trying to update your customers, keep track of industry price changes, and new products to the market, it would be a wise move to connect with a business that can help. As an energy broker you could connect with a larger company – one such as Online Direct. Online Direct offer a cloud-based energy management platform, called Energy Engine, which is free to energy brokers and consultants who use their network to transact.

Energy Engine basically manages all of your transactions and keeps them all together in one place. It tracks changes, keeps you updated, and lets you quote, submit, and monitor energy contract applications. As you’ll be able to appreciate, this isn’t just good news for you – it’s good news for your customers too as you’ll be able to keep them updated and give them answers when they ask for them. Energy Engine aims to free up your time from admin tasks so that you’re able to conduct more sales and ultimately grow your business.

Network

If you want to build your business and attract new customers, it’s vital you’re able to network successfully. This means you get out there and meet businesses (face to face if possible) and tell them what you can do. What’s more, with a tool like Energy Engine on your side, you’ll be able to ensure them you’re able to get access to all the best business energy tariffs out there.

Get Online
If you’re operating at a small business level, you’ll need a professional website to ensure you get taken seriously. A quality, well-made website helps to attract customers which means they’ll start coming to you instead of the other way around. If website design and construction is the antithesis of ‘your thing’, use a freelancer or specialist company to come up with the design for you. Once it’s up and running it will take minimal effort to keep it looking great.

As with any profession there are always smarter ways that we can work. In the world of energy brokerage, it’s wise to remember that you should look out for ways that you can –

1.Meet new clients
2.Access the best and most up to date energy deals
3.Save time on admin tasks
4.Delegate more menial tasks that are slowing you down

Working smarter doesn’t mean working harder, and with a few simple adjustments to the way you work, you should soon start to see benefits such as more clients, more time, and ultimately more profit.

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Business brokers – no longer just the middle-man.

A business gas and electricity broker is a B2B (business to business) agent in a deregulated energy market who acts as an intermediary between the energy suppliers and business energy consumers. After the gradual process of de-regulation within the industry in the nineties, people who were convinced they could make quick money at the expense of the genuine brokers jumped on the bandwagon and started commercial and business energy broker companies to sell cheap gas and electricity contracts to companies that were happy to pay the seemingly genuine low prices. But these people will never last long within the industry and many companiesnow have their own codes and practices to ensure they are working with the highest quality sub-broker. A business energy broker serving UK companies can still be a highly lucrative enterprise, but the expectation of integrity and expertise has never been higher.

Commercial energy broker services are designed to help save businesses time and money by searching the commercial gas and electricity energy marketplace to obtain the most competitive business energy prices from the best energy suppliers. From SME’s, to corporate sales, to commercial sales, a business broker has to wear a number of hats depending on the client, but their key role will always be the same – to procure the best independent service that they can.

What are SME’s and why are they important?

•SME stands for small and medium enterprises.

•They range from sole traders, freelancers and online marketing agencies to small industrial units.

•Energy efficiency and keeping overheads as low as possible is one of the biggest hurdles faced by SME’s, especially

 when they are first established.

•SME’s can also face a huge barrier if they are based in commercial sites rented from commercial landlords. This limits the power they have over the efficiency of their energy and what they can do about it in the long-term.

•In line with a Federation of Small Business (FSB) members survey conducted where 58% agreed that energy bills are difficult to understand and 70% found it difficult to compare tariffs, smaller companies are looking to business energy brokers for help with all aspects of procuring energy.

                              

The key point here, that the SME business model highlights perfectly, is that the role of a business gas and electricity brokers has developed and matured greatly over the last few years. They no longer stand as just the middle-man attempting to get the best rates; they now perform duties ranging from solving complex billing issues to helping customers with financial difficulties.To maintain the best business gas prices that are based on a company’s usage, negotiation requires expert industry knowledge and constant monitoring of energy suppliers and the factors driving gas prices. This is where a broker proves his worth and makes a convincing case against smaller companies approaching the big energy suppliers ill-equipped, on their own. Some brokers also offer a fully managed sales service for corporate energy brokers, from tender to completion.

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Blog Source:- http://onlinedirectuk.wordpress.com/2014/11/29/business-gas-and-electricity-brokers/