WKMG News Story
Recession Brings Bartering Back
Company Completed $2M In Transactions In 2008
May 4, 2009
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ORLANDO, Fla. — A bartering boom has hit Central Florida as Orlando-area businesses try to survive in today’s economy.
The Barter Network, which began in 2006 and completed nearly $2 million in transactions last year, contains more than 400 local businesses and serves as the broker between businesses looking to trade services. Members pay a 12 percent commission on each transaction, and there are tax implications, but the company provides members with the proper paperwork to ensure trades are done legally.
The company said continued growth is expected.
“We’re probably going to double those numbers,” said Gene Rankin, sales manager for Barter Network.
Members raved to Local 6 about bartering.
“We’ve had some amazing services — from air conditioning to plumbing — everything a business is going to need,” said Lenny King, owner of Salon Zion in Longwood. “It seems right now businesses are linking together, and we have a lot of strength that way.”
Members said it’s simple to exchange services with another company.
“If there’s a printing company in here and I don’t have to pay cash out, I can call and say, ‘I need more business cards,’ or ‘I need envelopes,’” said Debbie Wisner of Lisa Maile, an image, modeling and acting School.
Wisner said she’s learned to save the agency money after just one month of bartering.
Barter Network members include Westgate Resorts, Royal Caribbean, Clear Channel and local auto repair shops and electricians.
“We’re helping (Westgate) with elevators, believe it or not. Security, exterminating (and) advertising is huge with them,” Rankin said.
“My favorite thing is that it opens the doors to networking to create that network between businesses you don’t always find,” King said. “It’s just a great opportunity.”
