|Bartercard increases their business by facilitating preferred member to member transactions, bringing business they would not otherwise have access to. There are a number of follow-on effects to this dynamic.|
|Gaining a competitive edge in the marketplace by using barter, often generating advantages for both parties in the transaction over an exchange of cash or cash equivalents. Because it is additional business from outside the existing cash economy revenue stream, the revenue generated by Bartercard Trade Dollar (T$) sales is assumed to be generating profits equivalent to the gross margin of the product or service sold.|
Lusty's Showcase Jewellers
Who are your customers?
Everyone – We all need to treat ourselves sometime and we all have gifts to buy for those we care about. We stock a large selection of Diamonds and if we don’t have exactly the one of your dreams, we can design and have it made to your specifications. We have all the best known jewellery brands; Pandora, Thomas Sabo, Karen Walker, Kagi, Ellani, And Ice, Seiko, G Shock and Baby G Watches.
What challenges have you faced over the years?
The business has been operating since the late 1940s so we have enjoyed lots of challenges and lots of achievements.
What is your biggest challenge currently?
To stay in pace with the changes in retail and online selling and with current fashion brands that will attract new customers
What seasonal or cash flow issues do you face?
How has Bartercard helped your business?
Would you recommend Bartercard to other businesses, why?
Established in 1999, TULSI Restaurants has been one of the capitals best Contemporary Indian Restaurants for over 10 years. With 5 outlets around Wellington, open 7 days, customers can enjoy award winning Butter Chicken and several other mouth-watering dishes prepared by skilled chefs.
For a TASTEATULSI visit any TULSI outlets, order online or contact us to make a booking to celebrate any special occasion.
TULSI have been with Bartercard for over 8 years. TULSI joined Bartercard to help increase their booking reservations. Not only has TULSI achieved this goal in this time with Bartercard, but has found that Bartercard is a beneficial tool to help grow this business and use as an alternative source to fund business needs.
This year, TULSI is expected to exceed T$60,000 for which over 30k is new customers. Bartercard representatives are supportive and helpful, they listen to your needs and will go the extra mile to find out exactly what your business is looking for and will help promote your business innovatively.
We efficiently use our trade dollars for numerous services suitable to our business which in turn assists with our cash flow.
Allure Nail Studio
Allure Nail Studio has been part of the Bartercard organisation for over 6 years. We joined Bartercard with the hope of increasing our bookings by 10%. Not only have we achieved this we have also achieved so much more through Bartercard. Not only have now got 10% of our clients on Bartercard, these clients have also brought us more cash clients.
Through Bartercard staff it is possible to grow your business and use another source of revenue to fund it. The staff are supportive and innovative and are always ready to listen to your needs. If you are prepared to think outside the square, Bartercard will be an invaluable tool to grow your business to the next level and beyond.
Field Group Ltd
Since we joined we have learnt that considerable amounts of the business you receive from Bartercard is new business/sales that you would not have received otherwise and the average spend by Bartercard customers is generally a lot greater.
It is really important to spend the Trade Dollars you earn. First-hand experience has taught us that by seeking out Bartercard members, we have regularly ended up utilising and working with many businesses we wouldn't have known about if it wasn’t for Bartercard.
This further confirms that Bartercard genuinely does bring extra business.
We are happy to recommend Bartercard as a great extra tool and networking opportunity for gaining more business that will work for most organisations.
For companies such as Just Water whose purchasing is done through a dedicated department, it is sometimes difficult to account for the advantages that their Bartercard business has brought them.
In most cases there is a strong incentive to spend Trade Dollars rather than cash, but for accounting and decision-making purposes Just Water felt a new process needed to be created so these advantages could be reflected and understood.
For Just Water, it made sense to take a smaller proportion of their margin up front by accruing a ‘Bartercard Expense’ at the time the additional business is generated.
When it comes time for someone within Just Water’s purchasing department to evaluate contracts or purchasing opportunities, they apply this hypothetical discount when comparing quotes. If the Bartercard members quote is found to be less expensive when taking this discount into consideration, Just Water pays for the goods or service with Trade Dollars. The purchasing department then debits the accrued ‘Bartercard Expense’ account by the appropriate amount.
Company: Just Water New Zealand
Just Water New Zealand is one of the two divisions of Just Water International Ltd, which began quotation on the New Zealand Exchange’s Alternative Market on June 15, 2004. Other companies under this umbrella include Aqua-Cool Ltd, Cool Water Company Ltd, and Corporate Water Brands NZ.
Just Water is primarily a national supplier of water coolers, including point-of-use and has recently been successful in installing customer-branded water-coolers in larger corporates.
|Just Water New Zealand Ltd and Bartercard Growth
Just Water New Zealand recognised the benefits of Bartercard, and became a Bartercard member in 2001. Their trade volume through Bartercard grew rapidly due to the member to member promotional efforts of Bartercard. The rapid uptake of Bartercard into Just Water’s business is also demonstrated by their policy of paying commissions in Trade Dollars to sales representatives that make sales to Bartercard members.
When Just Water and Aqua Cool recently merged they effectively used Trade Dollars to facilitate the process and bring the new team together. Just Water Project Manager Connie Miller used Trade Dollars during the process to create a new, unified team.
Using Trade Dollars at every opportunity across the project enabled the team to conserve cash and maximize the budget available for the project. The diversity of Bartercard member businesses around the country meant they were able to secure a large variety of essential services including electrical wiring, computer cabling, and air-conditioning. In terms of office fitout the outcome from the Trade Dollars spent was even more effective.
The final step of the business integration was bringing the teams together at a national conference for 200 employees in Rotorua. All of the logistics for the event were pulled together with Trade Dollars, from accommodation, to food and entertainment. “There is something about our conferences that are legendary and the almighty Trade Dollar continues to help us achieve a motivated, keen team every year, every time.” Says Connie.
Overall the company tends to spend its Trade Dollar income each month, with the cost centre being charged less than the quoted Trade Dollar cost, and the balance to the accrual account. Managers who are responsible for their own cost centres treat Bartercard spending as a priority because of this purchasing discount.