Bartercard New Zealand is part of the largest global trade exchange, trading over $150 million worth of goods and services outside the cash economy each year. With thousands of members in New Zealand alone, Bartercard provides business opportunities to its members by making use of unused trading capacity and excess inventory to increase profits and get new customers. Total Finish Painting Contractors is just one of the Bartercard members delivering professional results for all their clients’ painting and decorating needs throughout Canterbury and wider South Island region.
In this update, we talk to Byron Smith, Managing Director of Total Finish Painting, on the benefits Bartercard has brought to his business since joining the network in September 2018.
Since becoming a Bartercard member, what benefits have you seen that are a direct result of joining Bartercard?
In just a short space of time, we have received a number of quote requests that we wouldn’t have necessarily received and secured more jobs because we can accept payment through Bartercard’s electronic currency, Trade Dollars. We have been really impressed with how our Trade Broker has gone above and beyond in marketing our company’s services across the network. We are regularly receiving referrals which not only is a good endorsement for our business, but it also shows the power of Bartercard and how easy it is to build your client base further.
While it’s still early days we are excited about the impact Bartercard will bring to our cashflow and the opportunities it presents.
If you are busy with cash contracts, how do you still manage to take on additional Bartercard work?
Our business has been operating since 2010 and we have built up a strong reputation and work ethos while expanding. We are very fortunate to have a team of highly skilled, hardworking and experienced painters and we find the resources for projects as the demand requires it.
Do you feel that Bartercard has helped secure work that you may have lost to competitors in the cash economy?
Absolutely! Without being a member, we would have lost the jobs that we have secured through Bartercard.
What scope of work do you traditionally look to acquire from Bartercard enquiries?
Our business provides both residential and commercial painting services. Many of the enquiries we have received have been for painting, plastering, GIB supply and installation. It’s a great way for businesses to offset these expenses if they’re doing a renovation, refurbishment or expanding and utilize their Trade Dollars rather than spending their hard-earned cash.
Your business could be the next Bartercard success story
Bartering isn’t a new concept. It’s been around for thousands of years. In todays’ society, Bartercard simply allows its members to pay for products and services using Trade Dollars instead of paying in cash. These Trade Dollars are then used to offset cash expenses within your business. Trade Dollars are a well-recognised and accepted method of payment in New Zealand. One Trade Dollar is equivalent to one New Zealand dollar for all accounting and taxation purposes.
Each time you spend with Trade Dollars, that expense will come back to you when you get more customers from another Bartercard member. New customers generated by Bartercard will be incremental to your existing cash business, and therefore will not interfere with your existing business model.
Why not download the free e-book ‘How to Use Bartercard to Grow Your business’? Find out how much you stand to gain from a foray into the world of bartering. Contact the bartering experts at Bartercard today!
To discuss a future job with Total Finish Painting Contractors, contact 03 341 8400.