Let’s talk about fractional relationships. A fractional relationship is an opportunity for a startup or small business to access expertise in a given area without the expense of a full-time person on their payroll. In short, you are paying for what expertise you may need, when you need it. Fractional relationships, where companies share resources and expertise on a part-time or as-needed basis, can offer significant advantages for independent and mid-sized propane companies. These relationships can enhance safety, ensure compliance, boost sales, improve training and drive business development.
Safety
Safety is paramount in the propane industry, and fractional relationships can help companies maintain high safety standards. By partnering with safety experts on a fractional basis, propane companies can access specialized knowledge and best practices without the cost of a full-time hire. Many small marketers cannot afford to have a full-time safety officer, but finding a partner or company that can provide the needed services while keeping your bottom line in mind is a win for both parties.
Real-world experience: “After a few audits, we quickly realized we were far from where we needed to be. We have improved our safety culture, become more compliant and improved our training. We have come a long way under our partner’s guidance. We still have a way to go, but we have a clear map of how to get there.”
— John O’Keefe, president
Indy Propane
Danville, Indiana
Compliance
Compliance with industry regulations is critical for propane companies. Fractional compliance officers can help ensure that companies stay up to date with the latest regulations and avoid costly fines and penalties. These experts can conduct regular audits, provide training and develop compliance programs tailored to the company’s needs. Finding a partner that is well versed in state, local and federal codes can save you money by ensuring that you are prepared for any level of inspection.
Real-world experience: “As an independent marketer, it is daunting to face the ever-evolving requirements in the industry on your own. With the help of a fractional services partner, I have peace of mind knowing that we will remain compliant. I can focus on growing my business, knowing that I’ll be kept informed of any updates or changes in the industry going forward.”
— Tim Sayers, owner
Sayers LPG
Lebanon, Kentucky
Sales
Fractional sales professionals can help propane companies increase their market share and improve the bottom line. These experts can develop and implement sales strategies, train sales teams and identify new business opportunities. By leveraging the skills of experienced sales professionals, companies can achieve their sales goals more efficiently. In many locations, we have seen sales teams that operate with a base salary but a strong commission program; thereby, their success is directly tied to your success.
Training
Training is essential for the growth and development of employees and is also required in many states. Fractional trainers provide customized training programs using the latest CETP and PEP programs to address the needs of the propane industry. Finding the right partner that can provide classroom, field training and certification programs is another way to help reduce or control your liability in many cases.
Real-world experience: “Our partner has been able to get us organized to the point where we have been able to take our training to the next level in keeping in compliance with all of the rules and regulations of the industry.”
— Andy and Candee Kline, owners
Lime City Propane
Huntington, Indiana
Business Development
Fractional business development can help propane companies identify new markets, develop strategic partnerships and create growth plans. These experts bring a wealth of experience and can provide valuable insights that drive business success. Helping to identify areas to reduce inefficiencies, improve other income streams and add value to the bottom line can help you meet the cash flow needs of today and improve your position when it comes time to sell.
What to Look for in a Fractional Service Provider
- Identify your needs: Start by clearly defining what services you need. Whether it’s safety, compliance, training or business development, knowing what you need will help you find a partner with the right expertise.
- Experience and expertise: Look for a partner with a proven track record in your industry. Check their credentials and client testimonials to gauge their experience and expertise.
- Flexibility and scalability: Ensure they can scale their services according to your business needs. A good fractional partner should offer flexible solutions that can grow as you grow.
- Cost-effectiveness: Ensure they offer value for your money. While cost is important, it shouldn’t be the most important. Focus on the quality of services and the return on investment.
- Communication and collaboration: Communication is crucial for a successful partnership. Choose a company that is responsive, transparent and willing to work closely with your team, whether that is in an office setting or training in the field.
- Cultural fit: Make sure they align with your company’s values and culture. A good cultural fit ensures smoother collaboration and leads to better results.
- References and reviews: Ask for references and read online reviews to get a sense of the provider’s reputation. Speaking with past clients can provide valuable insights into their reliability and performance.
Fractional relationships offer numerous benefits for independent and midsized propane companies. By leveraging the expertise of fractional partners in safety, compliance, sales, training and business development, companies can enhance their operations, achieve their goals and drive growth. Consider exploring fractional relationships to unlock the full potential of your propane business.
