Originally published in Cobb Business Journal, Our Town Magazine and Around Acworth. Click HERE to view online at Our Town Magazine.
Running a Business Isn’t Easy…Even For The Big Easy.
There’s nothing easy about running a business even if that business is modeled after the Big Easy itself, New Orleans. One of the greatest challenges is managing costs especially in the competitive restaurant industry. Bartering within a professional network can save thousands of dollars every year. Now, that’s something every business owner can get jazzed about.
For 10 years, Copeland’s of New Orleans, has been working with The Barter Company to exchange their services with other barter clients. “We estimate a net cash savings of 30% on every barter transaction,” said Bill Goudey, owner of two Copeland’s Atlanta locations. “Copeland’s does about $125,000 in barter per year, so the inflow and outflow is double that amount.”
Copeland’s of New Orleans restaurants serve New Orleans cuisine in a casual dining atmosphere. The extensive menu includes: seafood, steaks, sandwiches, burgers, and a kid’s menu.
Barter is one of the ways to make things a little easier in the restaurant business. Goudey explains: “We barter food and beverage from our restaurant primarily for marketing and repair services. That includes printing, print and broadcast media, restaurant cleaning services, supplies, general construction and maintenance services. We even use gift certificates for entertainment and dining as rewards and prizes.”
People have exchanged goods and services for centuries through a simplistic barter system. Today, barter plays an important role in the payments industry with businesses incorporating it into their system along with cash, credit, virtual payments, and loyalty cards. “Alternative currencies are trending for business,” explains Ric Zampatti, The Barter Company CEO. “More and more businesses are taking another look at barter and how it can benefit their cash flow.”
The best reason of all to use barter, according to Goudey, is “the introduction of many new clients to the business that would not otherwise visit our establishment. That and the cash savings from leveraging the barter network. Effective bartering takes time so be committed to the concept. The Barter Company’s trade coordinators work hard to help us build barter traffic and spend our dollars wisely.” The Barter Company makes it easy.