NuBarter of Greater Savannah Tastes of the Town After Hours Event – Photos by Bunny Ware
Thursday, April 28th, 2011
Published September 10, 2010
| FOXBusiness
Whoever said cash is king never tried bartering.
For small business owners grappling with excess capacity and an inability to get a loan from banks, bartering can be more valuable than cash.
Bartering dates back to ancient times, when folks swapped goods and services for other goods and services they had. The modern way of bartering is to have networks of businesses across the globe that trade products and services either in person, over the phone or via the Internet without the use of cash.
Whether a lawyer in Houston has spare time on his hand or a local newspaper had extra ad space, businesses — largely small ones — can use bartering to get a host of services. Basically a small business joins a barter exchange and instead of using cash for goods and services, trades its excess capacity for things it needs. For example a furniture retailer could sell a couch and in return get credits that can be used for printing brochures. That couch may have languished in the store but on the exchange it found a buyer.
Bartering is a “great benefit to small businesses that want to use excess capacity as a currency,” said David Wallach, president of the International Reciprocal Trade Association, an industry trade group for barter exchanges. “It’s very profitable to businesses. That’s why they join it.” Members in bartering exchanges typically pay a membership fee or monthly maintenance fee and a percent of the sale.
A Small Business With a Sweet Business Model
Small Business: Big Ideas
At ITEX, the Bellevue, Wash., membership trading company that has 24,000 members and 90 offices around the country, that percentage is 6%. According to Alan Zimmelman, a spokesman for ITEX, barter exchanges work best in local economies and is done predominately via the phone or electronic messaging, rather than over the Internet. Members will use the Internet to search for ways to spend their barter dollars but will call or email one of ITEX’s brokers when they want to engage in a trade. “The Internet will grow but it is a slow process,” said Zimmelman, noting it’s easier to pick up the phone, send a text or email. ITEX members do use the Internet to post advertisements or electronic newsletters.
Members of bartering exchange NuBarter do use the Internet to make deals, even though the company has customer service reps at the ready to help members. On NuBarter.com members are given a line of credit and search for what they want to use that line of credit for. Once they find something they click buy and the seller is contacted via an email. If it is approved the seller and buyer will make arrangements.
NuBarter, which is based in Savannah, Ga., but has offices around the country and a network of barter exchange partners around the world, put together a network of roughly 2,300 members who trade among themselves. A line of credit is given to the members and NuBarter’s job is to make sure the goods and services stay balanced. For instance, NuBarter won’t let 10 hair salons on the network if there is only demand for two. What’s more, in order for a small business to be allowed into the network, it has to go through an interview process. The line of credit is based on criteria, including years of service, number of employees and size of the business, said Gary Field, president of NuBarter.
Members of NuBarter pay a one -time fee of $495, $15 monthly and a 12% cash fee on all transactions. For the fees, small business members get assigned a trade broker and access to business seminars, similar to Chamber of Commerce events. According to Field, NuBarter is a win-win situation for small business members because their barter dollars never go to waste if a service is not completed.
“If someone doesn’t get the services, they don’t pay,” Field said.
For small businesses that don’t want to become a member of one of these bartering exchanges, there are a host of websites that let individuals trade goods and services. BarterQuest is one example. On its site, goods, services and real estate can be traded around the world.
An excellent expo: Business event brings companies to the community
By Savannah Morning News
Created 2010-07-20 00:18
Linda Sickler
Business was booming at the Pooler Business and Consumer Expo. A large crowd turned out July 15 to see what companies in the area have to offer.
The expo was held at the Mighty Eighth Air Force Museum. Many vendors offered special deals during the expo, and some sponsored giveaways.
“We’ve had a nice, steady stream coming in,” said Karen Robertson of the Pooler Chamber of Commerce. “We even had some early arrivals who were here at 5:15 p.m.”
Robertson said the variety of vendors who participated was particularly thrilling. “It’s fabulous,” she said. “We’re sold out with vendors.
“This is only our second time to do this,” Robertson said. “The chamber did one last year, and there was one five or six years ago.
“As people heard about this one, interest has grown,” she said. “The comment we’re hearing most from vendors is that the numbers are up over last year.”
In all, 23 vendors turned out. “It’s everything from banking, healthcare to spas, real estate, travel, entertainment – a very good variety,” Robertson said.
The expo gave vendors a chance to advertise, and customers an opportunity to find products and services. “We’re talking to everyone about our services,” said Patty Anderson of the GeoVista Credit Union.
“We’re here to educate the public about Hospice Savannah,” said Sarah Copeland, community outreach coordinator for Hospice Savannah. “We cover five counties – Chatham, Effingham, Bryan, Liberty and Long.”
While most people are familiar with Hospice Savannah, they’re not aware of all the services it provides, Copeland said. “People are unfamiliar with Full Circle, which provides bereavement services,” she said. “It is open to anyone who has had a loss.”
Heather Parks of Holiday Inn was surprised at the number of people who came for the expo. “The hotel business is vital to our economy,” she said.
Jacquie Stein is a territory licensee/manager with NuBarter, a Savannah-based online bartering company, whose members trade goods and services for other businesses’ goods and services. NuBarter members barter their goods and services to increase sales, reduce cash expenditures and increase profits.
“We’re the largest trade exchange in the Southeast,” Stein said. “We bring added visibility and revenue to our members.”
Events such as the expo are important for businesspeople and community members to network, Stein said. “Every new contact in worthwhile,” she said. “We are trying to educate businesspeople on the benefits of bartering.”
Sarah Sherman of Savannah Commons Retirement Community said this was her company’s first event in Pooler and an opportunity to show the community what it has to offer. “We’re encouraging everyone to come over and take a look at us,” she said.
Sandy Downs of Beazer Homes is a member of the Pooler chamber. “This is the first time we’ve done this,” she said. “I’m really happy with the way everything is set up here.”
Beazer Homes builds houses that range in price from $130,000 to $180,000 and, despite the tough economy, the company is thriving. “All our homes are built with energy efficiency in mind,” Downs said.
Plans already are under way for another expo next year. “We want it to be bigger and better each year,” Robertson said. “We want our vendors to know they have the perfect opportunity to show people what they have.”
Contact: Gary Field
FOR IMMEDIATE RELEASE
Tel: 912-233-0808
Cell Phone: 912-631-6808
eMail: Gary@NuBarter.com
BARTER LEADERS MERGE TO OFFER MORE TRADE OPPORTUNITIES
Barter dollars go farther as NuBarter and Barter Brokers International join forces
(July 2010) Savannah, GA based NuBarter (www.NuBarter.com) and Charleston, SC based Barter Brokers International (www.BarterBrokers.com) announce that they will join forces creating the largest barter marketplace in the Southeast. Barter Brokers International, a 16 year veteran with offices in Mount Pleasant, SC, has a membership base throughout North and South Carolina. NuBarter, based in Savannah GA, has offices across Georgia, Florida, and South Carolina with members totaling over 2000 in a wide variety of industries.
“We are excited to leverage BBI’s longevity in the SC/NC region and look for the integration between the two marketplaces to be complete by early to mid August of this year” said Gary Field, CEO of NuBarter.
As for joining forces with NuBarter, Bill Bailey, President of BBI, is thrilled to be able to extend the NuBarter network to his existing client base. “Over the past 16 years we have seen tremendous growth in the barter community. Our joint mission is to continue to provide an effective way to increase sales, reduce cash expenditures and increase profits for our members.”
About NuBarter:
Established in 2002, NuBarter assists businesses in attaining new cash customers, increasing cash flow and profitability, reducing cash expenditures and saving companies’ needed cash reserves. Unlike other barter companies, NuBarter monitors the fair market value of goods and services to avoid potential pitfalls and monitors member accounts to assists in the formation of a barter strategy, including their goals and objectives, to insure the success of their transactions. NuBarter was the 2009 runner up in Forbes Magazine’s, “Boost Your Business Contest” and the 2010 winner of the Savannah Small Business Chamber’s “Business of the Year”.
About Barter Brokers, International
Founded in 1994, BBI has representation in Charleston, Columbia, Savannah, Hilton Head Island, Myrtle Beach, Greenville, SC and Charlotte, NC. BBI is a well established trade exchange in The Carolinas. BBI helps its member companies enhance their businesses through exchange of products and services instead of making cash disbursements.
# # #
If you would like more information about this topic please call Gary at (912) 233-0808 or email Gary at Gary@NuBarter.com
Small Business Chamber honors standouts at Savannah hotel
Small Business Chamber honors standouts at Avia hotel
Posted: May 14, 2010 – 12:18am
The Small Business Chamber recognized, from left, Lynn Fairbanks of WJCL/Fox 28 The Coastal Source.com; Jacquie Stein, accepting for Gary Field of NuBarter; Alice Jean, accepting for Kathy Sliz of Decorating Den Interiors; and Lisa Scarbrough of Coastal Pet Rescue. (Carl Elmore/Savannah Morning News)
ADVERTISEMENT
By Arlinda Smith Broady
Anyone can host an awards dinner in a hotel banquet hall, but when you’re used to doing things a little differently, why not throw a rooftop soiree instead?
It’s that kind of thinking that prompted the Small Business Chamber to have its first annual awards ceremony by the pool on the terrace at the Avia hotel.
“We didn’t want to do just another banquet,” said board member Carol Kirchner, owner of Smart Feet. “This is so much more conducive to networking and getting to know people.”
Guests enjoyed nontraditional banquet fare such as Asian-flavored chicken wings and pulled-pork sliders while taking in the late spring evening breeze.
But when it came to announcing the winners, the anticipation and excitement were just as evident as at any other awards ceremony.
– Small Business of the Year: Gary Field of NuBarter
– New and Emerging Small Business of the Year: Kathy Sliz, Interiors by Decorating Den
– Janice Gantt Memorial Small Business Champion of the Year: Lynn Fairbanks, WJCL/Fox28/The Coastal Source.com
– WJCL/Fox28/The Coastal Source.com Community Advocate of the Year: Lisa Scarbrough, Coastal Pet Rescue
The event was the last duty as president for Marcia Stinson, owner of Comfort Keepers. As she passed the reins to incoming president Jamey Espina, community liaison for Hospice Savannah, she thanked the members for their support.
“Thank you for placing your confidence in me,” she said as the partying recommenced.
