How Gift Cards can Drive Business Success with Larry Rubin

In order to grow our business, whether small or large, there are many initiatives to consider. It could be advertising. But one thing that can help you gain leverage, get exposure, and develop new clients is gift cards. How do we do it? In this episode, I talk with Larry Rubin, Founder of Swipe It. He shares his journey, including how he overcame significant debt and the importance of supporting small local businesses. We talked about how small business owners can utilize gift cards to generate revenue and build a customer base. Larry emphasizes the versatility of gift cards, which can be used as promotions, employee rewards, and for online sales. Grow your business with gift cards. Tune in now! --- Listen to the podcast here: How Gift Cards can Drive Business Success with Larry Rubin Welcome to Action’s Antidotes, your antidote to the mindset that keeps you settling for less. Today, I want to talk to you a little bit about gift cards and a little bit about the restaurant industry, specifically the manner in which restaurant industry uses these gift cards and what it says about what we might need to do in general to help level the playing field between smaller and larger businesses or give smaller businesses, give the person that’s just starting up their own business, whether it be a restaurant or any other kind of business, a chance to survive, a chance to really make it in this particular current state of affairs in the United States, or in any other country, for that matter, given that a lot of you out there listening are trying to build something, build something that you’re passionate about and really putting your all into it, but, sometimes, when you see these bigger corporations out there, it does feel like that the cards could be stacked against you. My guest today, Larry Rubin, is the gift card guru, the founder of SwipeIt, and he’s here to tell us a little bit about his initiative to help some of these smaller, locally owned restaurants take advantage of this tool that is much more readily and easily available to a lot of the bigger restaurant chains. ---   Larry, welcome the program.   Thank you for having me and excited to talk to you about hopefully leveling the playing field for these smaller guys.   Yeah, so 100 percent because I remember when we first connected, it didn’t feel to me necessarily obvious that gift cards was one of the ways that the bigger, larger chains kind of stomp on their smaller competitors, but you’ve observed something very different when it comes to leveraging this tool. First thing I’m kind of curious about is what makes gift cards such a powerful tool for any restaurant to use in kind of generating sales and customer base?   That’s part of our battle is going in and really educating the small business owner who, right now, they think of a gift card as a product that someone walks into my business, they purchase it, and they walk out. And that’s great for people who maybe are living or working within 15 or 20 minutes of your business. Gift cards can be utilized in many, many ways. It’s a huge revenue stream for restaurants and other merchants. It’s a great gift to give someone. I don’t know what clothes they wear, I don’t know what their activities are but I certainly know that this guy loves his chicken parm from this restaurant so I’m going to buy this gift card to his favorite restaurant. I know that you can always use it. And what we’re doing is helping the restaurants look at kind of outside the box. Great, we know that someone can walk in and purchase a gift card but do you have a website? Are you offering them online? Are you capturing last-minute gift giving by offering e-cards? All different ways to bring in revenue. And then we look at it in a different light as well and say, hey, it’s great for people to come in and pay you for gift cards but can we use these gift cards to bring in customers, run promotions,