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"I probably generate about $25,000 a year in NEW business through my trade exchange. That's $25,000 of business that I wouldn't have had, had it not been for my decision to join a barter company" |
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"I probably generate about $25,000 a year in NEW business through my trade exchange. That's $25,000 of business that I wouldn't have had, had it not been for my decision to join a barter company" |
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Auto Repair Shops Rev-Up Business With Barter (continued) |
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"I was surprised by how much new cash business I generated simply by making a trade decision to have a Web site designed", Fritz said. "I was able to list all of my products and services, and even had a system where customers could schedule their appointments with me by e-mail. My decision to use my trade dollars really paid off with this venture. I have new trade customers, not to mention new cash customers, and I didn't pay cash for any of these services". One-on-one bartering is common in the auto repair business, but joining a trade exchange or barter company (a group of businesses who barter among themselves) can give you more flexibility and opportunity. The barter company also provides a great record keeping system so you’ll always know where you stand with your barter account. There’s no additional book-keeping on your part. Even busy shops want new business When you join a barter exchange, expect to invest between $300 and $600 in the membership. You’ll have about $40 in monthly promotional fees and pay 12 to 15 percent commission on your trades. In return, the exchange will provide you with constant promotion of your business, ongoing account maintenance, a monthly statement, membership directory, a personal trade broker to find what you’re looking for, and most importantly, lots of new customers. "Let's face it, even the busiest repair shops want new business", said Phil Stone, who owns P.S. Auto Repair in Hartford, Conn. "I used to have some periods of time during the summer when I wasn’t as busy as I would have liked, so when I was approached to join a barter exchange, I saw real value in it and jumped at the opportunity. |
Satisfied barter customers are great "I guess you could say barter has really given my business a lift – I rarely have an empty lift in my garage". "I have a growing family, and addressing their health care needs has always been a dilemma for me", said Jerry Wysocki, owner of J.A.W. Automotive in Minneapolis. "But since I joined a barter exchange, I have seen a vast increase in business, and I was surprised to learn the number of quality doctors, dentists, and optometrists who barter their services as well. "Now I pay for my family’s dental work and eye care using my barter dollars. This gives our personal budget a lot more flexibility than we once had." |
"The most important part of barter is getting new business", says Tom McDowell of NATE. "When someone joins an exchange they’re exposed to hundreds of new potential customers locally and thousands around the country. With competition so stiff today, barter helps drive those customers past your competition and into your door". Always keep in mind that barter is still a business deal. That means you should use the same good sense in making barter decisions as you would if you were paying cash. Check out the company: How long have they been in business? What do their clients say about them? Do they have a showroom and a directory? Are they members of the National Association of Trade Exchanges? These are all important things you need to know before joining a barter exchange. Lastly, remember that both parties are customers in a transaction. You should expect and extend courtesy, high standards, and a commitment to providing a great product or service. With these guidelines in mind, auto repair shop owners can take the ancient practice of barter and put it to work in the modern world. MC
Barter customers often have car fleets |
