This Bartercard review has come in from Profile Fashion Accessories Director Jonathan Dean.
- Business: Profile fashion accessories
- Owner: Jonathan Deen
When we first joined Bartercard we didn’t fully appreciate its benefits. It wasn’t until we started to be proactive that things started to happen for us. We now have 5 stores and we have no trouble spending our Trade Dollars!
One of the major benefits of being a member of Bartercard is having Bartercard Trade Dollars available when cash is not so readily available. Being able to generate sales through the Bartercard website is a fantastic extra trading avenue that we fully utilise.
The fees that Bartercard charge compensate for not paying interest on a cash loan and allow us to do big deals! Utilising the Bartercard credit limit we’ve been able to buy in bulk which we possibly wouldn’t have been able to do in the cash economy. This has assisted our cash flow as we’ve been able to purchase from Bartercard suppliers, using Trade Dollars, and then on sell various products for cash. We recently purchased $120,000 worth of shoes from a Bartercard supplier. After 7 months of promoting in shopping centres and online we sold out and made a $30,000 cash profit even after the warehouse rent etc was taken into consideration!
The most imperative thing about Bartercard is to plan your spending. Generally we spend our Trade Dollars on printing, posters, accommodation and transport for when we visit our stores and we regularly use removalist on Bartercard to shift stock. We suggest you justify your sales by spending on business expenses, this way you’re reinvesting into your business. Think laterally and look for deals where you can cash convert your Trade Dollars. It’s a great system but you need a game plan.