Tips on how to use Bartercard for better business results…
Gain more customers
For you to gain more customers, you would typically hire additional sales people, advertise, reduce prices or offer incentives. By accepting an alternative method of payment i.e. Bartercard trade rands, you open up your business to a whole new market of customers and in turn gain a competitive advantage. The new customers you’ll receive from Bartercard will be motivated to buy from you. This directly results in increasing your sales opportunities.
Reduce your cash expenses
Bartercard assists you to increase your sales, and in turn, you are able to spend the Bartercard trade rands you earn, as well as your interest free line of credit, to purchasing products and services. Effectively, you will be able to offset some of your cash expenses by paying with Bartercard trade rands, therefore saving your cash.
Build business networks
As Bartercard is a membership based network there are many local and national networking events that are designed to provide introductions. Through new contacts barter business is constantly being conducted, and additional new cash referral business is reciprocated as a result of new relationships.
Sell excess stock
In the cash economy, in order to sell excess stock, a business will typically discount stock, run dealer promotions or write off excess stock. Through Bartercard, business owners are able to sell excess inventory at the normal selling price negating the need to reduce precious profit margins.
Improve your lifestyle
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 are able to spend some of the Bartercard trade rands they received from gaining extra business on either themselves of their family. Some business owners choose to use their Trade Rands, 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.
Fund capital growth
When you become a Bartercard member, you are automatically given an interest free line of credit. All members are able to apply to increase their line of credit from R100,000 to R250,000 or more, depending on their level of trading within Bartercard, their equity and security. With their increase in credit, Bartercard members are able to fund the capital growth necessary to grow their business. Some business owners have applied for substantial large lines of credit which they’ve used purchase new factories and office premises, complete renovations or develop extensive marketing campaigns to grow their business.
Collect outstanding debts
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 is able to collect their outstanding debt by taking physical possession of the debtors products or by accepting a credit note which they, in turn, are able to 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.
Incorporate Bartercard into your payroll
Bartercard can help you attract the right people for the job and keep them happy with rewards paid for with Bartercard rather than cash. Choose from incentives such as holidays, gift certificates or restaurant vouchers to make your team feel rewarded and appreciated.
Expand your product line
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 are able to sell other unrelated products.
Take control of your marketing strategy
By being a member of Bartercard, you’ll gain free local, national and international exposure through Bartercard’s online Directory, eCommerce platform plus the e-newsletters and networking functions.
In addition, you’ll have the opportunity to use your Bartercard trade rands to promote your business to the cash economy by spending on advertising and promotional items, sponsorship and public relations.
Extra tips on how to use Bartercard…
Win cash contracts
Trying to win a business contract these days can be difficult with competitors undercutting prices to win deals. With Bartercard, members are able to 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, realizing the full contract amount. For example, when a cleaner quotes 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.
Pay your creditors
During tough economic times, some Bartercard business owners may not have a substantial cash flow to support paying some of their creditors. By being a Bartercard member, they have the option to use their Bartercard trade rands or products or services that they have purchased on Bartercard, as a means to pay all or part of their cash debt quicker.
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 rands 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.
Gain cash referrals
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.
Unlock your business potential and capture lost revenue
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 assists its members to gain additional customers to utilise business down time. 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.
Build wealth by buying real estate
Through the Bartercard network you can sell commercial and residential properties with a Bartercard Trade Rand component, usually between 25 to 30 per cent of the property price. Purchasing property with Trade Rands is an effective method to build an investment portfolio, increase wealth and ultimately, convert Trade Rands to cash upon the sale of a property.
Purchase value added benefits to entice new customers
A Bartercard member would like to entice new customers (cash and trade) into their business by offering increased perceived value gifts, thereby, eliminating having to discount on prices, thus maintaining price integrity of their products or services.
Bartercard members may wish to pool together cash and trade rands to purchase an investment product or a product or service; for example a corporate box at a sports stadium, real estate, a race horse, a boat or a business. This allows members to gain higher value investments and utilise their trade rands to gain wealth.
Turn your trade rands into cash
Buying goods and service with trade rands that can be on-sold within your business is a great way for you to convert your trade rands to cash. For example a restaurant purchases wine on Bartercard and then sells for cash within the restaurant, 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.
Using trade rands gives you a purchasing discount
The true essence and power of Bartercard is the ‘purchasing power’ of your product. When you purchase in Bartercard, you are effectively spending with your excess product and/or service. Therefore, your purchasing discount is inbuilt into your margin.
Therefore if it costs you 35c in the rand to provide your product or service, then for every R100 trade you spend, it really only costs you R35. So, you are in fact buying at a 65% discount! This is the power of Bartercard.
Expose your company to new national and international markets