If you’re like most of the business owners that come to us, you’ve got openings in your schedule. You’ve got appointment times available but no customers to fill them. Those gaps are costing you big money. Empty rooms, empty tables, empty bays and unbillable hours all are lost potential income that you can never get back.
How much is it costing you to leave them empty? If you normally bill by the hour this is an easy figure to come up with. X (hourly rate) x Y (number of empty hours per week) = Z (total) example – $100 x 10 hrs = $1,000 per week. If that number of empty hours is typical for your business, take your weekly total of income lost and multiply it by 52. In this example, that’s a potential loss of $52,000. If you’re not sure how much potential income you’re losing now, call us and we’ll do the math for you. This is a number you need to know.
The problem is you’re trading empty appointments for zero income, but we can fix that. Start thinking of Trade Exchange as a Business Management tool. Downtime is a waste of money and a waste of opportunity. What happens when you fill those empty time slots with Trade customers? You get paid your hourly rate, you have the opportunity to satisfy new customers, you get the opportunity to gain testimonials, and you can add customers to your database, service and market for years to come.
Barter income is treated the same as cash income. There are no tax advantages or disadvantages to bartering. Trading should be considered a marketing tool, not a tax tool. Cash purchases that are normally tax deductible as business expenses are also tax deductible when purchased on trade.
Barter produces new business – allowing you to expand your market and maintain your cash-paying customers. Barter conserves cash. For example, if you owned a motel that had ten vacant rooms at $100/night and you need a new copy machine priced at $1,000. Barter provides a way in which you can buy your copier, fill your rooms (at your cost on the rooms) and maintain your cash. The same is true for filling empty tables for a restaurant, moving inventory for retailers and manufacturers or increasing billable hours for service business.
Barter provides a competitive edge. Barter clients are new clients that bypass competing businesses to do business at your establishment while you are maintaining your existing cash clients.
A trade exchange eliminates the restrictions of one-on-one trading where each business must want what the other has to offer. A Trade Consultant works with you to bring your company new sales, increased market share and to minimize cash outlay for everyday business expenses. Clients of an exchange use trade dollars, instead of cash, to handle their transactions. An exchange acts as a third party record keeper, providing monthly statements to clients, which reflects all trade purchases, sales, and a current trade dollar balance.
Globally, over 470,000 businesses are involved in Barter. It is estimated that 65% of Fortune 500 companies engage in barter to one degree or another.
There is a one-time membership investment to establish your business account. Transaction and modest monthly fees cover accounting, marketing, promotions and member services.
Every member business is assigned a Trade Consultant in our office. They do a complete spending analysis with you on your current purchasing as well as projections for your business in the future. You can spend your trade in many of the same ways you spend your cash. If your products or services are in high demand, we are happy to call you first and tell you who is looking to purchase from you and what their needs are. This way you can decide if you can handle more business and know ahead of time what the job entails.
Just like a bank or a credit union, we encourage businesses to apply for a barter line of credit. If you qualify, you can begin purchasing immediately.
Not using Trade Exchange is costing you thousands of dollars each year. Since you have new customers waiting for the opportunity to do business with you, why not let us help you reach them?
If you are looking to expand your customer base, give us a call and we will gladly help your business reach its full potential.
Let us know what you want to trade or send us your comments. At Trade Exchange Canada, we welcome and value your feedback.