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Thread: Barter Networks

  1. #1

    Default Barter Networks

    I keep getting calls from barter networks I was wondering if anyone works with any and what are you experiences. We have always stayed away from these since in the past we have tried to barter with a auto body, mechanics, and some others. It has never really worked out always seems like they are getting the better end of the deal
    Last edited by lilimo; January 26th, 2014 at 03:04 PM.

  2. #2
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    Tim Wiegman, Jr.
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    Tim Wiegman, Jr.
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    Senior Member Elegant Limousines of Palm Coast's Avatar
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    We have bartered with local companies. Love it, if you find the service and people to work with. We needed our back patio screened in. Well our local screen guy needed limo service for his wedding. It worked out great !!

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    Super Moderator Limo Scene's Avatar
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    Tim, thanks for posting the link. No need to reinvent the wheel!!!!
    Jim A. Luff
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  6. #6

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    After looking at the Itex website it occurred to me that there was already something like this out there. In fact it's much more widely used and accepted by just about everyone. It's called U.S. currency and it's backed by the government.

    If this barter stuff works out well for you, I'm pretty sure, you're in the minority. Otherwise, it looks like you're paying to use worthless unbacked currency.
    Andrew Armitage
    Vintage Chauffeuring LLC
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    Super Moderator Limo Scene's Avatar
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    Well, we will have to agree to disagree. Here are a few examples of how I used ITEX Barter....

    Oil Changes - The total of a full service Lube/Oil/Filter is $32.12
    When providing an hour of service to a fellow Itex member, it costs me in cash $14.00 (wages) $3.50 (p/r tax & w/c insurance), $5.00 in fuel for a total investment of $22.50 in cash out of my pocket. I earn $127.60 in Itex dollars. That buys me FOUR oil changes for $22.50 out of my pocket.

    Smog Check - A smog check costs $55.00. Again, a single hour of service will pay for two of these at a net cash cost of $22.50.

    Boxed Lunches - We provide box lunches on our wine tours. The box lunches cost $8.00 cash to us. We sell them for $15 each for cash from the client. We will provide about 25 box lunches on a wine tour. That earns us $375.00 in green cash. In cost me $200 in Itex dollars to buy the sandwiches. Two hours of work or about $45.00 in cash out of my pocket generates $375.00 in cash, less $45 from my pocket = $330.00 in pure green cash profit. I don't know how this can't be any better. It seems like robbing someone.

    On a side note, I had my whole house shampooed two weeks ago. The fee was $250. I paid with Itex so it really cost me about $50 cash. Such a value. Itex has mechanics, locksmiths, restaurants, smog testers, auto glass, sign makers, uniform companies, printers, florists, computer repair, pest control, coffee service, accounting firms, attorneys, radio stations, auto body shops, muffler shops, towing, car wash services, dry cleaning, dentists, glass tinting, notaries and my favorite, massages!!! I use all of this any pay pennies on the dollar for the services I receive.
    Jim A. Luff
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    Doesn't itex charge a monthly fee plus a 10% transaction fee on trade you do or something like that? It might be worth it for them to have some type of liability. I have done lots of business to business trade and every time I get restaurant or bar gift cards there's always some type of issue with them trying to put in some kind of BS stipulations after the service is done and I try to use them.

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    Super Moderator Limo Scene's Avatar
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    Yes, their is a fee on purchases. I don't really know how to read it. In looking at last month, we accepted $724.50 in Itex checks. We wrote $269.49 and had a fee of $38.92 in cash due Itex. They issue a tax document each year to report on our taxes how much we received in barter value. I know they have to make money too. I have never come across any type of restriction. We just write checks to each other like you would at the grocery store.
    Jim A. Luff
    Forum Moderator
    Contributing Editor & Consultant - LCT Magazine

    Limousine Scene - An Award Winning Company Since 1990
    Bakersfield, CA
    Limousines, Sedans, Vans, Charter Buses, Limo-Buses, Wheelchair Vans www.limousinescene.com

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