Looking For Ways To Find New Business?
Barter Networks Have The Answers
As our nation's economy continues to struggle, small business owners are constantly challenged to develop ways to unearth new forms of business growth. What most business owners fail to realize is that the solution lies within the confines of their own company. From excess inventory to outdated, yet unused merchandise, business owners can gain an entirely new revenue stream by joining a barter network - and trading what they have for what they need.
Bartering goods and services not only can strengthen a company's bottom line, but it can also open up an avenue of new customers - trade customers - made possible through the barter network.
"People in barter networks have traded everything from weddings and funerals to Rolls-Royces," said Tom McDowell, noted Barter Trainer and retired executive director of the National Association of Trade Exchanges." Barter opens up an entirely new world of business opportunities to any type of company - from jewelers and landscapers to restaurateurs and hoteliers. Adding barter as an integral component to your business plan is just plain common sense if you own a business."
Barter networks generally charge a one-time membership investment of between $300 and $600, and have a monthly administrative fee of $40. Members of a barter network are usually assessed a trade fee of 12 to 15 percent per transaction in accordance with their barter network plan type.
Barter networks allow companies to generate new business and help to ease cash flow concerns.
"Barter networks have taken the second oldest form of doing business and made it better," McDowell said. "Professionals such as hair salons, doctors, attorneys, accountants - any profession where an appointment is necessary - should be in a barter network. These professionals can't get money from yesterday's unscheduled appointments. They can fill these time slots with trade customers and add value to their business."
Although members of a barter network must report their sales and purchases as equivalent U.S. dollars with the Internal Revenue Service, by filing a 1099B tax form, members can write off barter purchases as business expenses, McDowell said.
"Barter networks can help a business owner in many ways," McDowell said. "From setting up an employee compensation plan to utilizing excess inventory and collecting debts, barter networks offer vast advantages in today's business world."
Learn more about Tom McDowell's Barter Trainer Program and
How To Launch Your Own Highly Successful & Profitable Trade Exchange.
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