1How does Jacksonville Barter work?
Members of the Jacksonville Barter use trade credits instead of cash to do business together. If a member trades one thousand dollars of goods and services to another trade member, that member will receive one thousand dollars in trade credit, which can then be used to purchase a variety of goods and services from other members of the Jacksonville Barter. Hotel rooms, resorts, restaurants, advertising, printing and many other goods and services can be obtained with trade credits. Jacksonville Barter is a third party record keeper that sends monthly statements to each member reflecting their purchases, sales and current balance.
2What are the advantages of Bartering/Trading?
Trade produces new business and allows you to expand your market. Secondly, trade conserves cash. Instead of spending cash to purchase needed goods and services, you can trade your own goods and services. Therefore, cash stays in your business for other purposes. Finally, trade lets you put idle resources to work. Excess time, excess inventory and excess capacity are converted into needed goods or services.
3What other companies are involved in barter?
Nationally, there are over 300,000 businesses, most of them small, currently involved in commercial barter. Based on present trends, 1.2 million businesses will be engaged in barter in North America within decade. It is estimated that 75% of the Fortune 500 Companies engage in barter in some form or another
4Why is the Jacksonville Barter unique?
The Jacksonville Barter Company represents over 10 years of combined experience serving trade clients. Our knowledgeable staff makes us the organization with which to trust your trade management, trade brokering and trade accounting needs now and throughout the coming years.
5What does it cost to join Jacksonville Barter?
Join our network now and try it for FREE until April 30 at which point you can decide if you want to continue your membership. The cost to join is $195 plus $35 per month, which provides access to your mobile App, 30,000+ member profiles, your own page and the ability to trade with any member in our network.
6I already trade on my own; why should I join Jacksonville Barter?
The problem with one-to-one trading is each business must want or need what the other business has to offer in equal dollar amounts. Fortunately, at Jacksonville Barter, everyone can trade with any other trading member of the Marketplace.
7How can I spend my trade?
Make a list of your needs. List everything you normally spend cash on. Do not limit yourself to one or two time item purchases. Use your checkbook as a memory tool. Also, think of your personal needs. If you regularly take cash out of the business for personal living expenses, travel or home improvements -- you should consider using the trade income you have accumulated, and save your cash for goods and services the barter network cannot easily acquire.
8How does Jacksonville Barter Profit?
Jacksonville Barter collects a small fee on each transaction, typically 5% cash and 2.5% JB credit from both the buyer and the seller. These fees are necessary to maintain the operating costs of the exchange.
9How will other members find out about me?
One of our jobs is to promote your business to other members. Jacksonville Barter can help promote your goods or services to other members via our our weekly broadcasts, direct connection with business owners, networking groups, social media profiles, member's directory, e-mailing lists, website access and direct contact.
10What if I cannot spend my trade dollars on the things I need the most?
When Jacksonville Barter does not have the goods or services a member needs, it becomes our job to find them. New businesses are sought to join the Marketplace on the basis of their ability to provide goods and services needed by the current membership. Fill out our Concierge Services form to tell us what services you need and we will find them for you!
11What if I need goods or services and I do not have enough credit to purchase it?
Trade credit lines can be set up for members just as a bank extends credit to its qualified customers. When joining Jacksonville Barter, you will be reviewed by our experienced team and assessed a credit line. Over time, your credit line may increase depending on your timely payment and need for extra credit.
12What if I quit the Exchange? What happens to my trade credits?
Any member who quits the Exchange is given three months to spend their trade dollars. Extensions are usually granted for members with large balances.
13Are there tax advantages to trading?
Trade income is the same as cash income for tax purposes. There are no inherent tax advantages. Trading should be considered a marketing tool, not a tax tool. As with cash income, trade purchases that are business related are tax deductible.
14How do I know how much trade income to include on my tax return?
At the end of the year, Jacksonville Barter will total your trade sales and submit this information to the IRS on form 1099B. Jacksonville Barter will also send you a copy of this form for your records, sixty days prior to our filing date.
15Who decides what price the seller will charge?
Members of Jacksonville Barter are expected to trade their goods and services for barter at the same price they would sell them for cash. Violations of this may lead to expulsion of that member.
16May I exclude anything from my inventory?
Yes. You should only trade what you want to trade. The idea of trade is to move excess inventory, which gives you an advantageous profit margin. Reasonable, specific restrictions on certain goods or services are data based by Jacksonville Barter to maintain a smooth trading environment.
17I have heard that barter is only good for the acquisition of services and not for goods. Is this true?
Barter is obviously best suited to high-margin situations in the marketplace. Margins are highest where businesses trade only their time or where there is an excess capacity such as undersold radio time, hotel space or idle equipment. However, barter can also be used to acquire goods at regular prices if margins are adequate.
Remember:Every new customer you service after you have met your fixed office expenses (payroll, rent, utilities, etc.) is very profitable. Providing your products and services for even a few new customers after basic expenses are met can make a big difference to your bottom line
18Can my trade credit be spent with other trade organizations?
Absolutely! You may spend your trade credit with any trading member that belongs to our national trade network, Barter Center International (BCI), an international trade network with many barter Marketplaces. This gives you the ability to spend your trade credits with ten’s of thousands of other members worldwide. You may take cruises, go to Spain, buy an Euro-Rail Pass, or just go eat a restaurant in San Diego while you on a vacation there; staying at hotel with your trade credits. Arrangements must be made in advance through our office.