In the cash economy, to sell excess stock, a business will typically discount stock, run dealer promotions or write off excess stock. Through Bartercard, business owners can sell excess inventory at the normal selling price negating the need to reduce precious profit margins.
As we are in business hopefully with the view to improve our lifestyle, if Bartercard can help you earn extra income which you can use partly for lifestyle purchases, then Bartercard is effectively helping you achieve the primary goal of improving your lifestyle.
Bartercard members can spend some of the Bartercard trade pounds they received from gaining extra business on either themselves of their family.
Some business owners choose to use their trade pounds, along with their interest-free line of credit, to pay for a much-needed holiday or weekend away. They may pay for other lifestyle expenses, such as dining out, clothing, entertainment, hobby equipment, gym memberships, massages, soft furnishings for their homes etc. All of which your business is supposed to be providing you with… a better lifestyle!
When you become a Bartercard member, you are automatically given an interest-free line of credit.
All members can apply to increase their line of credit from £5,000 to £20,000 or more, depending on their level of trading within Bartercard, their equity and security.
With their increase in credit, Bartercard members can fund the capital growth necessary to grow their business. Some business owners have applied for substantially large lines of credit which they’ve used to purchase new factories and office premises, complete renovations or develop extensive marketing campaigns to grow their business.
When a Bartercard business owner is continuously having trouble collecting cash from one of their customers (debtors), they may offer to accept part or the entire amount outstanding from the debtor in products or services.
Providing the debtor agrees, a Bartercard member can collect their outstanding debt by taking physical possession of the debtor’s products or by accepting a credit note which they, in turn, can on-sell through the Bartercard network.
As the Bartercard member sells their debtors products or services through the Bartercard network, the debtor reduces the balance of their outstanding debt.
Trying to win a business contract these days can be difficult with competitors undercutting prices to win deals.
With Bartercard, members can offer their potential cash customers (non-Bartercard members) the option to pay for part of the total contract amount with their product or service. In turn, the Bartercard member can then on-sell this product or service through the network, realising the full contract amount.
For example, when a cleaner quote on a hotel cleaning contract, the cleaner may choose to accept some hotel rooms as part payment for their service. The cleaner is then able to trade (sell) these hotel rooms through the Bartercard network.
Bartercard members have the option to purchase stock from other Bartercard suppliers at wholesale or retail rates, thus in turn, adding a new product to their product line which they can on-sell in the cash and or trade economy.
This option opens a realm of possibilities for Bartercard members as they are no longer restricted to selling just their product but can sell other unrelated products.
By being a member of Bartercard, you’ll gain free local, national and international exposure through Bartercard’s online Directory, eCommerce platform plus e-newsletters, Bartercard Trade Shows and networking functions.
Also, you’ll have the opportunity to use your Bartercard trade pounds to promote your business to the cash economy by spending on advertising and promotional items, sponsorship and public relations.
Most businesses have a certain amount of downtime, be it on certain days or at certain times of the year with the flux of seasonal trends.
Bartercard’s goal is to assist its members in gaining additional customers to utilise business downtime.
For example, hairdressers may fill empty spots in their diaries, restaurateurs may fill empty tables in a restaurant, hotels may fill empty rooms, and professionals may fill empty appointments with additional Bartercard customers.
As a business owner, you may need to lease or buy an asset such as a forklift, kitchen equipment, factory equipment, photocopier, computer, or phone system but you may not have the working capital to afford the large cash outlay.
If you were able to purchase all or part of these goods with trade pounds from another member, they could arrange cash finance (through a finance lender) for part or maybe all of the asset, then hold those funds to use as a valuable cash injection back into the business.
We find that every time a Bartercard member provides a service or product of great quality to another member, the satisfied customer is likely to recommend the business to other people they know in the cash economy.
Therefore, by simply providing great service and products to Bartercard members, you’ll be in a position to gain referrals to new cash customers.
Bartercard members may wish to pool together cash and trade pounds to make an investment or purchase a product or service; for example, a corporate box at a sports stadium, real estate, a racehorse, a boat or business.
This allows members to gain higher value investments and utilise their trade pounds to gain wealth.
Buying goods and service with trade pounds that can be on-sold within your business is a great way for you to convert your trade pounds to cash.
For example, a restaurant purchases wine on Bartercard and then sells for cash within the restaurant, and a beauty salon buys skincare products and on-sells within the salon, a sporting club buys prizes on Bartercard and then raffles them for cash.
A Bartercard member would like to entice new customers (cash and trade) into their business by offering added value gifts, thereby, eliminating having to discount on prices, thus maintaining price integrity of their products or services.
The true essence and power of Bartercard is the ‘purchasing power’ of your product or service.
When you purchase in Bartercard, you are effectively spending with your excess product or service. Therefore, your purchasing discount is inbuilt into your margin.
Therefore, if it costs you 35p in the pound to provide your product or service, then for every £100 trade you spend, it only costs you £35. So, you are buying at a 65% discount! This is the power of Bartercard.