August 5, 2025 • 24 mins
Trader Stu explores why restaurants should join barter groups as a strategic business move in today's challenging economic climate.
• Restaurants face rising costs, cautious consumer spending, and fierce competition for loyal customers
• Barter offers a creative way to overcome these challenges while preserving cash flow
• Trade unused inventory and empty tables for essential services like cleaning, marketing, and repairs
• Joining a barter group provides an instant business community and built-in clientele
• Barter can help increase foot traffic by introducing new customers to your restaurant
• Trade dollars can be used for employee perks and benefits without increasing payroll costs
• Marketing and advertising opportunities through barter help expand your reach affordably
• Barter credits act as an alternative currency during cash-tight periods
• Some barter networks offer credit lines for significant expenses with interest paid in trade dollars
If you're intrigued, reach out to your local barter network. If you're not in my area, contact me for a referral. Remember, sometimes the best currency isn't cash, it's community.
Thanks for listening to The Trading Post Podcast!
Find all our important links— https://linktr.ee/traderstu
This episode of The Trading Post is proudly sponsored by Press X 2 Play Games, Metro Trading Association, and the Michigan Renaissance Festival. Exciting news—I’m featured as The Trader at the Trading Post in Press X 2 Play’s upcoming video game! Learn more about Press X 2 Play at pressx2play.games, discover how Metro Trading Association helps businesses grow through barter and trade, and explore the magic of the Michigan Renaissance Festival.
Questions or guest suggestions? Email us at thetradingpostwithtraderstu@gmail.com
“Whistles In The West” was written, recorded, and produced by Durracell, exclusively for use with Trader Stu’s platform.
The track is protected under U.S. Copyright (filed and registered), and rights to use have been granted specifically to Trader Stu for content and promotional use related to his brand and media presence.
For additional licensing, custom audio, or to inquire about future collaborations and performances, contact:
📧 durracellmusic@gmail.com
🌐 www.durracell.com
© 2025 The Trading Post Podcast. All rights reserved.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Hello and welcome to the Trading Post Podcast, where
we unlock the secrets ofbusiness-to-business trade, dive
into powerful networkingstrategies and share my exciting
journey of using a podcast tomarket my business instead of
relying on SEO.
I'm your host, trader Stu.
Hello and welcome back to TradeTuesday, the Trading Post
(00:28):
podcast brought to you by yourhost, trader Stu.
Today we're talking about whyrestaurants should join a barter
group.
Right now, this is your go-toshow for all things B2B, sales,
marketing, networking and tradeand barter.
If you're a restaurant owner,manager or even an aspiring
entrepreneur in the hospitalityindustry, today's episode is
(00:50):
tailor-made for you.
We'll be diving into why abarter group that you could join
is one of the smartest movesyour restaurant business can
make, especially in today'seconomic climate.
But before we dive in, let'sthank our amazing sponsors.
This episode is brought to youby the Michigan Renaissance
Festival, where magic, merrimentand history come alive.
(01:11):
Metro Trading Association, ofcourse, your premier source for
barter, networking and savings.
And Press X to Play, yourdestination for immersive gaming
experiences in Metro Detroit.
Play, your destination forimmersive gaming experiences in
Metro Detroit.
I'll be in their video game.
I can't wait for that.
I'll be the trader.
So grab your notepad because bythe end of this half hour
(01:37):
you'll have actionable talkingpoints, new ideas and fresh
perspectives on how to loweroverhead, boost business,
enhance employee benefits andcreate serious word of mouth,
all through the power of barter.
So why now?
Right?
So let's start with the bigquestion why should restaurants
look at barter?
And why now?
So the restaurant industry isrecovering from massive
(02:00):
disruptions, right, costs arerising, margins are tighter and
ever and cash flow is alwaysunder pressure consumers are
more cautious with spending.
I think today they basicallyannounced that we're in a
recession.
I think we've always been inrecession or a depression.
I think we've always been indepression, but they just hide
it.
You know anyway.
(02:22):
But there was a big, bigrelease of it today At any rate.
So you're more cautious withyour money, so people aren't
going to go out to eat.
And don't forget thecompetition for loyalty loyal
customers is fierce, of course.
There's so many.
I'm in Metro Detroit.
It's kind of like living in NewYork City.
It's like, not what you want toeat, but like what
(02:44):
nationalities food do you wantto eat?
Everything from Indian and Thaiand Vietnamese, and Madison
Heights they call little Vietnam, and then you got.
You know, it's like Chinatown,right, you got it's.
When I was in New York, livingout there in 99, 2000, it was
people asked me like hey, whatdo you want and you want?
You know Polish.
(03:04):
What do you want and you want?
You know Polish food?
Do you want you know Chinesefood, whatever?
So it was.
It was cool coming fromFrankenmuth, but now Metro
Detroit it's kind of the samething we're.
We got a lot of food and a lotof restaurants around here.
So I talked to restaurantowners a lot and they say the
competition is just absolutelybrutal.
It's hard.
You got to be like the best ofthe best to have the best food,
(03:25):
the best you know service, ofcourse, to get any kind of
repeat customers.
So don't forget also thattraditional marketing methods
like the Google SEO that is,it's kind of like well, I don't
say it's snake oil, it's likesnake oil anymore.
I mean, let's be honest, it'snot working like it used to.
From what I hear anyway, ai has, you know, kind of upset the
(03:49):
whole SEO game.
Of course nothing's forever,but the ROI on that is way less
predictable.
So people trying to get keywordsearches or get the first page
of Google and all the otherthing, it's kind of like I don't
, I heard it's not worth it, nomore, anyway, we'll see.
But because now I don't everGoogle anything anymore, I use
(04:09):
perplexity, so I just stay offof the I don't.
I'm not saying I'm never onGoogle, but I'm just saying I
use AI to do all my searches forme because it gives me like a
quick, easy synopsis oneverything I'm looking for,
right, quick, easy synopsis oneverything I'm looking for,
right.
So at the same time that manyrestaurants have excess capacity
, there's of course, off-peakhours, there's unfilled tables
(04:32):
and surplus inventory.
Then of course, there's thedowntime for the staff.
So whenever we get like I knowin our industry, here in Metro
Trade that I work for peoplewill give us a call and say, hey
, my staff is sitting aroundgive me some business.
And we hit the phones and tryand send them some extra
(04:53):
business to keep the staff busy,because he's paying them.
Might as well do something.
And trade is still, you know,barter, dollars, trade, dollars,
whatever is still money.
So there's that Barter offers acreative, practical way to
overcome these challenges whilepreserving cash flow and
unlocking new businessopportunities.
So keep the cash in your pocket.
So let's talk dollars and centsIn a barter group, your
(05:16):
restaurant can trade unusedinventory.
So instead of letting perishablestock go to waste, you can
barter it for services or goodsyou actually need, like cleaning
, laundry, marketing and evenrepairs.
We have one hibachi place thatuses all their money for
cleaning their hoods and he haslike six of them, or maybe I
think there's seven or eight,because there's the kitchen in
(05:38):
the back too.
Plus, I think he's got sixhibachi grills and each one of
those is a hood Very highoverhead.
He uses all of that to get hishoods clean.
It's awesome.
Of course, he filled the emptytables so he turned slow nights
or unused eating into hard value, not just by discounting but by
exchanging those meals forother essentials printing and
(06:00):
decor and tech support and legalhelp.
Now, well, last week I hit upthe coupon books or whatever, or
the restaurants.
We need more restaurants.
Actually, in our group I meanevery group does.
You can never have enoughrestaurants, but so it's always
a game.
But I hit up the ones that arelike you know, coupons at 10%
(06:21):
off, or a free fry and a Coke,or free this or half off this.
You know there's always somebig coupon and don't forget
there, I mean that's a discount,you know a free, you know fry
and a Coke is still kind of likemoney out their pocket, even
though it's you know it's.
So it's like I say, pay me 6%,I'll send you the business and
(06:43):
you don't got to pay me for theadvertising that we do until you
spend.
So I say it's 6% per trade, notthe buy and the sale, and they
usually like the idea.
It's just hard to get to alwaysthe decision makers and get
everyone to agree on everything.
Of course, if there's partners,then you can, of course, reduce
supplier costs.
Barter groups often includevendors offering everything from
(07:05):
food delivery to kitchenequipment maintenance like I
just said, hood cleaning andthen meaning that you can
acquire the services withoutdipping into their cash reserves
.
So you're going to trade yourexcess time and inventory for
hood cleaning, for example.
Or we have, like chemicalsupplies.
You got your soaps and yourtowels and things like that for
the restrooms and the kitchenand things you know.
(07:27):
So you use that instead of cash.
You use it for trade.
So, in short, barter reducesthe cash you need to run your
restaurant, improving youroverall profitability.
Don't forget also one of thethird value thing that I like
that I always talk about peopleare in networking but they don't
tend to do it.
So when I that I like that Ialways talk about people are in
networking but they don't tendto do it.
So when I talk to people Ialways say that joining a trade
(07:49):
group is kind of like joining anetworking group or like a
chamber or whatever, but withouthaving to go to the meetings.
So your meeting is your buy andyour sale, because everyone
that has their statements theyget the statements.
They look and see who came inand see them and a lot of times
they want to reciprocate andspend with them as well.
I'm from a small town, fromFrankenmuth, and I know that
(08:11):
when I would stop into abusiness and pay them you know
some, some clientele or bringthem some business or referrals
or things like that, I and ifthey're not there at the
business, I always kind of feltdisappointed.
I mean, don't get me wrong, I'mstill going to buy and whatever
, but I always like to see themto see that I'm there or so I
can say hi to them and you knowhow's things, how's the kids or
(08:34):
whatever, right, how's the dog?
And I always was disappointedthat they weren't there so they
could see that I was in theirbusiness spending money with
them.
So what you get when you join atrade group is that everyone
can see who came in to see them.
So next month that businesscould see that I was in and
bought whatever you know.
So that's I like that part ofjoining trade groups, the
(08:56):
networking value of that.
And of course you get instantbusiness community.
So, like I said, I mentionedDetroit, there's not really a
big, I guess, community per se,like the old town feel.
You know people miss that oldtown feel, the village situation
.
But so what trading does orjoining a trade group does is it
brings that back into sight, soto speak.
(09:18):
So everyone kind of doesbusiness with each other and
I've even heard other peopletell their business partners or
other members that they refer toget to come in and sign up is
basically, you know, like it'sjust a, they're a whatever
company like hey, don't, don'tscrew anybody in here in the uh,
in this group, because they alltalk to each other and it's a
(09:41):
small party and they all talk toeach other.
So you know, definitely doright by everyone that's in the
group and Otherwise word willget around and you just won't
get no more business.
And it's very true.
It's like we're all part of aparty or a group and we have our
own money.
And if you want in on it, yougot to do right by others.
(10:06):
And so joining our barter groupisn't just about the trades,
it's about joining, it's aboutrelationships.
So you have a built-inclientele.
Barter group members tend tosupport one another and they
drive bookings and patronagefrom one network to the other
within the network Referralengines.
Happy barter partners talk.
Your restaurant can create newB2B relationships and tap into
(10:28):
their extended networks, leadingto more word-of-mouth referrals
.
And then, of course, you getcross-promotion.
You collaborate in events orpromotions with other member
businesses and share audiences,costs and double your reach.
You're not just plugging intonew revenue streams, you're
joining a collaborativeecosystem where everyone wins as
the network grows stronger.
That's why referrals areawesome, because you know you're
(10:51):
going to bring people in thatyou think are good and will do
right by others.
So make a strong referral andthen you'll grow them.
They'll love it.
Hopefully they tell their buddy, you know, I mean.
It goes on and on.
So what I say?
Except for the quick deposityou make into the trade system
the four dollars, then you canspend that right away so you can
(11:12):
try it before you buy it, kindof a thing.
I mean, I know you're buyingbut like all you're doing is
putting 400 bucks in the systemso you can spend it with people
and then that gets more businessfor you faster because, like I
said, people will do businesswith other people who do
business with them, especiallyin the barter groups.
You increase foot traffic andtryouts.
That's the big thing that youknow a lot of restaurants have
(11:34):
issues with is just get them inthe door.
If I could just get somebody inhere, I know they'll love it.
You know every business doesthe same thing.
I know you'll love it.
You just got to take one bite,try it, taste it, and you know
the free samples things, ofcourse.
That's how it started out,especially in the mall.
I love the Chinese places wherethey have the toothpicks and
they say, hey, you want someorange chicken?
Of course you're going to eatmore.
(11:55):
It's candied meat.
You're going to love it, youknow.
So that's one of the and italways works on me.
So one of the best ways, ofcourse, to attract new patrons
is to get them to try your placeat least once.
So there's got the low risksampling barter group members
and their employees Don't forgettheir employees are more likely
to visit because their businessis already invested, so they're
(12:17):
already in the system and theywant to make sure that you do
well, so they're going to makesure they go out of their way to
do business with you when inthe cash economy or the open
economy you don't really getthat as readily, especially if
you're not in a small town.
You get the feedback loop.
First-time diners from tradepartners can offer feedback,
helping you test out new menuitems or service ideas, because
(12:39):
a lot of times people in thegroups become friends, or at
least business friends that theymight not have otherwise had
the potential to create.
It's kind of like a warmintroduction, like when you're
at a party and you getintroduced by a friend or their
friend like hey, this iswhatever you should.
You guys both like I don't knowhunting, I think you should
(13:00):
talk because you have a lot incommon kind of a thing.
You know, that's what I'm goingout with with that.
So then of course you get theword them off amplifiers.
You get the positive firstexperiences and shared with
friends, family, co-workers,expanding your, your reach
organically, incredibly.
So that's the big thing.
Of course, you're going to getpeople coming in there and
(13:20):
everyone that they know isprobably not a trade member,
right.
So they're probably the onlyperson that they know that's in
the barter group.
But when they go to yourrestaurant and they say, hey, I
just tried this place, youshould check that place out.
They have awesome fried chickenor their meatloaf is
phenomenally fabulous.
You're going to try it.
So you're going to get that,and people are going to trust
(13:42):
that that person is also abusiness owner, or even a
restaurant owner.
And they say, hey, you got tocheck out this place's food.
It's awesome.
And then there's more cloutwith that, right.
So don't forget about that.
So the word of mouth businessyou get isn't just from other
trade groups or other trademembers.
(14:02):
The other powerful thing that wedo is gift certificates.
So trading gift cards or mealvouchers as barter can introduce
your brand to people whootherwise might have never
walked in.
Now we do a lot of gift cardswith restaurants because, like I
have several that arefranchises, you know, and like
they say, I have 55 employees,dude, like there's no way I can
(14:26):
teach everyone how to run a.
You know the trade transactionand I get that.
So we'll do either $10 off or$20 off or a coupon or you know
whatever.
So, and then that is the facevalue.
So you don't get the money backon that, the breakage on that.
The business gets to keep thebreakage on that.
(14:47):
So if it's a $10 voucher, youdon't get a buck back, they keep
the buck.
So it's a benefit too.
The only problem is is that giftcards and things like that, the
certificates lowers yourability to get the traffic in
right, because now people got tothink ahead, they got to have
that on their hand and they gotto have the gift cards in their
(15:07):
car, their glove box or in theirwallet.
So although it's good forbusinesses to generate some foot
traffic, there is a limitationto taking them.
So a lot of places will takeboth.
But if the business owner isn'talways there or they have
multiple locations or a ton ofemployees and they rifle through
management, it's a lot of timesmanagement will take the card
(15:30):
or know how to run the card andnobody else will.
But if at least one manager ison staff at all time, then it's
no big deal.
You know.
So you retain their staff.
Retaining good staff is tough,right?
So barter opens creative waysfor you to reward them so you
can get employee benefitswithout cash outlay.
So employee perks offer staffaccess to meals or trade or for
(15:55):
benefits like massages, fitnessclub access, cardio detailing,
dental care is a big one andwithout increasing your payroll
budget.
So a lot of places.
We got one that does flowers,you know, like they're a
landscape supply company andthey have, like, I think, 55
employees that are on the giftcard program.
So every Christmas time they'llbonus the employees and
(16:18):
depending on I don't know howthey do it, but some employees
get 50 bucks by time how longthey've been there, but 50 bucks
, 200, 300, 400, 250, whatever,doesn't matter.
So the employees will getbonused and then they can use
those prepaid barter cards foranything that they want and
that's in the association, justlike a business owner would.
So a lot of times you have toeat with them.
(16:42):
But we also have dentists.
I don't know if we haveorthodontists anymore I don't
think so, but you know we gotthat teeth cleaning, whatever.
We have veterinarians, so takeyour dog or cat to the vet, get
a checkup.
You know things like that.
Get shots for them If youcouldn't afford it on cash.
We have an optometrist in thearea, get your eye exam, glasses
, etc.
So you know, employee benefitsare awesome.
(17:04):
The perks is cool where you canoffer that for them, that they
kind of earn themselves, becauseon their downtime they're
taking some trade maybe.
And then there you go't forgetrecognition, to host staff
parties, recognition events orprovide small tokens of
appreciation.
That are all sourced throughbarter.
So again we have anothercompany that goes to one of our
(17:25):
places that's like a bowlingalley and they have, I think,
laser tag and go carts andarcade batting cages.
You know, know they take trade.
So this place will rent out oneof their rooms for their
employee party or whatever, likethat right and they pay that
all in trade.
So it definitely gets used,utilized.
(17:48):
Then you get wellness.
So you got barter networks.
A lot of them offer wellnessservices were helping support a
healthier, happier team at afraction of that traditional
cost they might offer.
So like I just brought on aplace up in Grand Blanc that
does IV drips, vitamin shots,weight loss.
Then you got massage.
Therapy is a lot.
(18:08):
There's a lot of places that dothat.
We have acupuncture in Troy,things of that nature.
So we also have what do youcall it?
Physical therapy.
We have a place that does thattoo on trade, and they have,
like I think, five or sixlocations as well.
So there's that aspect that youknow don't forget about.
So providing all of the extrasboosts the morale and retention
(18:30):
that sets you apart as anemployer, and all without
hurting your cash flow.
So you know, you got therevolving doors out there with
the employees coming and going,so you keep them.
You know extra money doesn'talways necessarily increase
retention.
They can make extra money on aside job.
It's all about how fun of aworkplace maybe it is, or all
(18:51):
the benefits and perks that youprovide, whatever.
Because we don't even havechild care on trade.
So now that one can run up fast, because it's not like $45 a
day or $16 a day for child careright now, so that one can go
real quick, but anyway, maybe aday here and there per month
(19:11):
just to get the kids away and goplay for the day, that's cool
too.
Then you got, of course,flexible marketing and
advertising that you can get ontrade.
So marketing dollars areprecious, but barter can
dramatically expand your toolkit, trade for ad spaces.
So many barter groups havemedia companies, radio, print,
(19:31):
digital ads, and they acceptbarter for advertising.
So stretch your marketingbudget a little bit further.
We do in our association.
We have lots of things that areavenues that you can use your
trade dollars for to get cashbusiness.
For us I always say trade yourexcess time capacity, buy this
on trade, and then you're goingto generate and get in cash by
(19:53):
advertising.
You know, by using your tradedollars it's perfect.
Then you got in-kindsponsorships, often creating or
catering our event spaces,exchanged for branding
opportunities at trade shows,concerts or community events.
Then you got social proof.
Barter partners can promote oneanother by providing authentic
(20:13):
testimonials and reviews.
Now in our association in MetroTrading, we offer like a review
After you go visit a place youcan offer, like you know, one to
four stars and then a commentsection.
So we also have that as wellwithin the group.
These strategies put yourrestaurant in front of new,
relevant audiences, often farmore affordably than cash-based
(20:35):
advertising.
Then you got risk managementand then you get the business
agility of that all right.
So a tough business climatecalls out for out-of-the-box
thinking.
So you got non-cash reserves.
Barter credits acts as a kindof alternative currency or a
safety net, if you will.
If cash runs tight.
You still have buying power Nowin our association.
(20:57):
If you're a good person thatpays your bills and you pay your
fees and we know we can bringyou lots of business, we do let
you go into a credit dip so youcan go into a debt where you pay
.
The interest rate is 1.5% permonth and you pay that in trade
dollars.
So I just had one the other day.
(21:18):
He's opening up a new locationand he needed a attorney to help
him out with the liquor licenseand it was like five grand or
4,500 bucks or something likethat.
It's crazy.
But you know, he only had, Ithink, I think a thousand bucks
or something low in his account.
So we let him go negative.
We gave him a credit line.
He was able to pay the lawyer,save his cash, pay the lawyer on
(21:38):
trade and then, boom, now he'sgot his you know the license he
needed to get up and running andI know we can get a business
because he's an awesomerestaurant Like I go there, my
wife goes there, like we referhim out all the time.
He does big like catering things.
So I know we can get him out ofthe hole relatively quickly and
I think he's already out of itlike halfway there, and that was
(22:00):
just like a month ago, becausehe's got awesome food.
So you know, everything goesdepends on the business, of
course.
Of course, but.
And then you get market testingso you can use your barter to
trial new services or menu itemsin a low risk way.
You got feedback from networkmembers.
That's invaluable, don't forget.
Then you get the flexibilityduring downturns, when customers
(22:22):
are scarce and cash is thin.
Barter helps keep the wheelsturning and can lead to cash
paying customers down the line.
So if you're intrigued, reachout to your local barter network
.
If you're not in my area, youcan still contact me.
I'll give you a referral if Iknow somebody in your area.
We work with everyone acrossthe whole country.
(22:43):
We work really closely with onein Lansing, grand Rapids area.
He refers me in business.
I refer him in business becausewe don't really compete, we're
not really in the same network.
We do cross paths a little bitin Genesee County and Flint, but
Tennessee County and Flint, butonly because he bought the
(23:03):
other exchange that was goingout of business there.
So he bought that up.
So there is some members thatare there, but it doesn't matter
.
And then we work with Coloradoa lot place in Texas anyway and
Pennsylvania.
So if I know somebody, I'llmaybe hopefully reach out and
ask somebody if they knowsomebody in your area that you
might want to join.
Many specialize in servinghospitality and restaurants.
Ask about their member rosterrules and success stories.
Start with a modest commitmentTrade a few seats, a set meal or
(23:24):
gift cards and track theresults.
Speak with peers who havejoined, learn from their
experiences.
So anyway, that's it.
Barter isn't about tradingchicken wings for plumbing.
It's about creating meaningful,mutually beneficial
partnerships that help yourrestaurant lower costs, enhance
marketing reach, reward yourstaff and stay resilient,
especially in volatile times.
So thanks for tuning in to theTrading Post podcast.
(23:46):
If you have stories, questionsor want to hear and connect with
the Barter Network, drop us anote, find us on social media
I'm on Linktree and remember,sometimes the best currency
isn't cash, it's community.
See you next episode.
Hello and welcome to the Trading Post Podcast, where
we unlock the secrets ofbusiness-to-business trade, dive
into powerful networkingstrategies and share my exciting
journey of using a podcast tomarket my business instead of
relying on SEO.
I'm your host, trader Stu.
Hello and welcome back to TradeTuesday, the Trading Post
(00:28):
podcast brought to you by yourhost, trader Stu.
Today we're talking about whyrestaurants should join a barter
group.
Right now, this is your go-toshow for all things B2B, sales,
marketing, networking and tradeand barter.
If you're a restaurant owner,manager or even an aspiring
entrepreneur in the hospitalityindustry, today's episode is
(00:50):
tailor-made for you.
We'll be diving into why abarter group that you could join
is one of the smartest movesyour restaurant business can
make, especially in today'seconomic climate.
But before we dive in, let'sthank our amazing sponsors.
This episode is brought to youby the Michigan Renaissance
Festival, where magic, merrimentand history come alive.
(01:11):
Metro Trading Association, ofcourse, your premier source for
barter, networking and savings.
And Press X to Play, yourdestination for immersive gaming
experiences in Metro Detroit.
Play, your destination forimmersive gaming experiences in
Metro Detroit.
I'll be in their video game.
I can't wait for that.
I'll be the trader.
So grab your notepad because bythe end of this half hour
(01:37):
you'll have actionable talkingpoints, new ideas and fresh
perspectives on how to loweroverhead, boost business,
enhance employee benefits andcreate serious word of mouth,
all through the power of barter.
So why now?
Right?
So let's start with the bigquestion why should restaurants
look at barter?
And why now?
So the restaurant industry isrecovering from massive
(02:00):
disruptions, right, costs arerising, margins are tighter and
ever and cash flow is alwaysunder pressure consumers are
more cautious with spending.
I think today they basicallyannounced that we're in a
recession.
I think we've always been inrecession or a depression.
I think we've always been indepression, but they just hide
it.
You know anyway.
(02:22):
But there was a big, bigrelease of it today At any rate.
So you're more cautious withyour money, so people aren't
going to go out to eat.
And don't forget thecompetition for loyalty loyal
customers is fierce, of course.
There's so many.
I'm in Metro Detroit.
It's kind of like living in NewYork City.
It's like, not what you want toeat, but like what
(02:44):
nationalities food do you wantto eat?
Everything from Indian and Thaiand Vietnamese, and Madison
Heights they call little Vietnam, and then you got.
You know, it's like Chinatown,right, you got it's.
When I was in New York, livingout there in 99, 2000, it was
people asked me like hey, whatdo you want and you want?
You know Polish.
(03:04):
What do you want and you want?
You know Polish food?
Do you want you know Chinesefood, whatever?
So it was.
It was cool coming fromFrankenmuth, but now Metro
Detroit it's kind of the samething we're.
We got a lot of food and a lotof restaurants around here.
So I talked to restaurantowners a lot and they say the
competition is just absolutelybrutal.
It's hard.
You got to be like the best ofthe best to have the best food,
(03:25):
the best you know service, ofcourse, to get any kind of
repeat customers.
So don't forget also thattraditional marketing methods
like the Google SEO that is,it's kind of like well, I don't
say it's snake oil, it's likesnake oil anymore.
I mean, let's be honest, it'snot working like it used to.
From what I hear anyway, ai has, you know, kind of upset the
(03:49):
whole SEO game.
Of course nothing's forever,but the ROI on that is way less
predictable.
So people trying to get keywordsearches or get the first page
of Google and all the otherthing, it's kind of like I don't
, I heard it's not worth it, nomore, anyway, we'll see.
But because now I don't everGoogle anything anymore, I use
(04:09):
perplexity, so I just stay offof the I don't.
I'm not saying I'm never onGoogle, but I'm just saying I
use AI to do all my searches forme because it gives me like a
quick, easy synopsis oneverything I'm looking for,
right, quick, easy synopsis oneverything I'm looking for,
right.
So at the same time that manyrestaurants have excess capacity
, there's of course, off-peakhours, there's unfilled tables
(04:32):
and surplus inventory.
Then of course, there's thedowntime for the staff.
So whenever we get like I knowin our industry, here in Metro
Trade that I work for peoplewill give us a call and say, hey
, my staff is sitting aroundgive me some business.
And we hit the phones and tryand send them some extra
(04:53):
business to keep the staff busy,because he's paying them.
Might as well do something.
And trade is still, you know,barter, dollars, trade, dollars,
whatever is still money.
So there's that Barter offers acreative, practical way to
overcome these challenges whilepreserving cash flow and
unlocking new businessopportunities.
So keep the cash in your pocket.
So let's talk dollars and centsIn a barter group, your
(05:16):
restaurant can trade unusedinventory.
So instead of letting perishablestock go to waste, you can
barter it for services or goodsyou actually need, like cleaning
, laundry, marketing and evenrepairs.
We have one hibachi place thatuses all their money for
cleaning their hoods and he haslike six of them, or maybe I
think there's seven or eight,because there's the kitchen in
(05:38):
the back too.
Plus, I think he's got sixhibachi grills and each one of
those is a hood Very highoverhead.
He uses all of that to get hishoods clean.
It's awesome.
Of course, he filled the emptytables so he turned slow nights
or unused eating into hard value, not just by discounting but by
exchanging those meals forother essentials printing and
(06:00):
decor and tech support and legalhelp.
Now, well, last week I hit upthe coupon books or whatever, or
the restaurants.
We need more restaurants.
Actually, in our group I meanevery group does.
You can never have enoughrestaurants, but so it's always
a game.
But I hit up the ones that arelike you know, coupons at 10%
(06:21):
off, or a free fry and a Coke,or free this or half off this.
You know there's always somebig coupon and don't forget
there, I mean that's a discount,you know a free, you know fry
and a Coke is still kind of likemoney out their pocket, even
though it's you know it's.
So it's like I say, pay me 6%,I'll send you the business and
(06:43):
you don't got to pay me for theadvertising that we do until you
spend.
So I say it's 6% per trade, notthe buy and the sale, and they
usually like the idea.
It's just hard to get to alwaysthe decision makers and get
everyone to agree on everything.
Of course, if there's partners,then you can, of course, reduce
supplier costs.
Barter groups often includevendors offering everything from
(07:05):
food delivery to kitchenequipment maintenance like I
just said, hood cleaning andthen meaning that you can
acquire the services withoutdipping into their cash reserves
.
So you're going to trade yourexcess time and inventory for
hood cleaning, for example.
Or we have, like chemicalsupplies.
You got your soaps and yourtowels and things like that for
the restrooms and the kitchenand things you know.
(07:27):
So you use that instead of cash.
You use it for trade.
So, in short, barter reducesthe cash you need to run your
restaurant, improving youroverall profitability.
Don't forget also one of thethird value thing that I like
that I always talk about peopleare in networking but they don't
tend to do it.
So when I that I like that Ialways talk about people are in
networking but they don't tendto do it.
So when I talk to people Ialways say that joining a trade
(07:49):
group is kind of like joining anetworking group or like a
chamber or whatever, but withouthaving to go to the meetings.
So your meeting is your buy andyour sale, because everyone
that has their statements theyget the statements.
They look and see who came inand see them and a lot of times
they want to reciprocate andspend with them as well.
I'm from a small town, fromFrankenmuth, and I know that
(08:11):
when I would stop into abusiness and pay them you know
some, some clientele or bringthem some business or referrals
or things like that, I and ifthey're not there at the
business, I always kind of feltdisappointed.
I mean, don't get me wrong, I'mstill going to buy and whatever
, but I always like to see themto see that I'm there or so I
can say hi to them and you knowhow's things, how's the kids or
(08:34):
whatever, right, how's the dog?
And I always was disappointedthat they weren't there so they
could see that I was in theirbusiness spending money with
them.
So what you get when you join atrade group is that everyone
can see who came in to see them.
So next month that businesscould see that I was in and
bought whatever you know.
So that's I like that part ofjoining trade groups, the
(08:56):
networking value of that.
And of course you get instantbusiness community.
So, like I said, I mentionedDetroit, there's not really a
big, I guess, community per se,like the old town feel.
You know people miss that oldtown feel, the village situation
.
But so what trading does orjoining a trade group does is it
brings that back into sight, soto speak.
(09:18):
So everyone kind of doesbusiness with each other and
I've even heard other peopletell their business partners or
other members that they refer toget to come in and sign up is
basically, you know, like it'sjust a, they're a whatever
company like hey, don't, don'tscrew anybody in here in the uh,
in this group, because they alltalk to each other and it's a
(09:41):
small party and they all talk toeach other.
So you know, definitely doright by everyone that's in the
group and Otherwise word willget around and you just won't
get no more business.
And it's very true.
It's like we're all part of aparty or a group and we have our
own money.
And if you want in on it, yougot to do right by others.
(10:06):
And so joining our barter groupisn't just about the trades,
it's about joining, it's aboutrelationships.
So you have a built-inclientele.
Barter group members tend tosupport one another and they
drive bookings and patronagefrom one network to the other
within the network Referralengines.
Happy barter partners talk.
Your restaurant can create newB2B relationships and tap into
(10:28):
their extended networks, leadingto more word-of-mouth referrals
.
And then, of course, you getcross-promotion.
You collaborate in events orpromotions with other member
businesses and share audiences,costs and double your reach.
You're not just plugging intonew revenue streams, you're
joining a collaborativeecosystem where everyone wins as
the network grows stronger.
That's why referrals areawesome, because you know you're
(10:51):
going to bring people in thatyou think are good and will do
right by others.
So make a strong referral andthen you'll grow them.
They'll love it.
Hopefully they tell their buddy, you know, I mean.
It goes on and on.
So what I say?
Except for the quick deposityou make into the trade system
the four dollars, then you canspend that right away so you can
(11:12):
try it before you buy it, kindof a thing.
I mean, I know you're buyingbut like all you're doing is
putting 400 bucks in the systemso you can spend it with people
and then that gets more businessfor you faster because, like I
said, people will do businesswith other people who do
business with them, especiallyin the barter groups.
You increase foot traffic andtryouts.
That's the big thing that youknow a lot of restaurants have
(11:34):
issues with is just get them inthe door.
If I could just get somebody inhere, I know they'll love it.
You know every business doesthe same thing.
I know you'll love it.
You just got to take one bite,try it, taste it, and you know
the free samples things, ofcourse.
That's how it started out,especially in the mall.
I love the Chinese places wherethey have the toothpicks and
they say, hey, you want someorange chicken?
Of course you're going to eatmore.
(11:55):
It's candied meat.
You're going to love it, youknow.
So that's one of the and italways works on me.
So one of the best ways, ofcourse, to attract new patrons
is to get them to try your placeat least once.
So there's got the low risksampling barter group members
and their employees Don't forgettheir employees are more likely
to visit because their businessis already invested, so they're
(12:17):
already in the system and theywant to make sure that you do
well, so they're going to makesure they go out of their way to
do business with you when inthe cash economy or the open
economy you don't really getthat as readily, especially if
you're not in a small town.
You get the feedback loop.
First-time diners from tradepartners can offer feedback,
helping you test out new menuitems or service ideas, because
(12:39):
a lot of times people in thegroups become friends, or at
least business friends that theymight not have otherwise had
the potential to create.
It's kind of like a warmintroduction, like when you're
at a party and you getintroduced by a friend or their
friend like hey, this iswhatever you should.
You guys both like I don't knowhunting, I think you should
(13:00):
talk because you have a lot incommon kind of a thing.
You know, that's what I'm goingout with with that.
So then of course you get theword them off amplifiers.
You get the positive firstexperiences and shared with
friends, family, co-workers,expanding your, your reach
organically, incredibly.
So that's the big thing.
Of course, you're going to getpeople coming in there and
(13:20):
everyone that they know isprobably not a trade member,
right.
So they're probably the onlyperson that they know that's in
the barter group.
But when they go to yourrestaurant and they say, hey, I
just tried this place, youshould check that place out.
They have awesome fried chickenor their meatloaf is
phenomenally fabulous.
You're going to try it.
So you're going to get that,and people are going to trust
(13:42):
that that person is also abusiness owner, or even a
restaurant owner.
And they say, hey, you got tocheck out this place's food.
It's awesome.
And then there's more cloutwith that, right.
So don't forget about that.
So the word of mouth businessyou get isn't just from other
trade groups or other trademembers.
(14:02):
The other powerful thing that wedo is gift certificates.
So trading gift cards or mealvouchers as barter can introduce
your brand to people whootherwise might have never
walked in.
Now we do a lot of gift cardswith restaurants because, like I
have several that arefranchises, you know, and like
they say, I have 55 employees,dude, like there's no way I can
(14:26):
teach everyone how to run a.
You know the trade transactionand I get that.
So we'll do either $10 off or$20 off or a coupon or you know
whatever.
So, and then that is the facevalue.
So you don't get the money backon that, the breakage on that.
The business gets to keep thebreakage on that.
(14:47):
So if it's a $10 voucher, youdon't get a buck back, they keep
the buck.
So it's a benefit too.
The only problem is is that giftcards and things like that, the
certificates lowers yourability to get the traffic in
right, because now people got tothink ahead, they got to have
that on their hand and they gotto have the gift cards in their
(15:07):
car, their glove box or in theirwallet.
So although it's good forbusinesses to generate some foot
traffic, there is a limitationto taking them.
So a lot of places will takeboth.
But if the business owner isn'talways there or they have
multiple locations or a ton ofemployees and they rifle through
management, it's a lot of timesmanagement will take the card
(15:30):
or know how to run the card andnobody else will.
But if at least one manager ison staff at all time, then it's
no big deal.
You know.
So you retain their staff.
Retaining good staff is tough,right?
So barter opens creative waysfor you to reward them so you
can get employee benefitswithout cash outlay.
So employee perks offer staffaccess to meals or trade or for
(15:55):
benefits like massages, fitnessclub access, cardio detailing,
dental care is a big one andwithout increasing your payroll
budget.
So a lot of places.
We got one that does flowers,you know, like they're a
landscape supply company andthey have, like, I think, 55
employees that are on the giftcard program.
So every Christmas time they'llbonus the employees and
(16:18):
depending on I don't know howthey do it, but some employees
get 50 bucks by time how longthey've been there, but 50 bucks
, 200, 300, 400, 250, whatever,doesn't matter.
So the employees will getbonused and then they can use
those prepaid barter cards foranything that they want and
that's in the association, justlike a business owner would.
So a lot of times you have toeat with them.
(16:42):
But we also have dentists.
I don't know if we haveorthodontists anymore I don't
think so, but you know we gotthat teeth cleaning, whatever.
We have veterinarians, so takeyour dog or cat to the vet, get
a checkup.
You know things like that.
Get shots for them If youcouldn't afford it on cash.
We have an optometrist in thearea, get your eye exam, glasses
, etc.
So you know, employee benefitsare awesome.
(17:04):
The perks is cool where you canoffer that for them, that they
kind of earn themselves, becauseon their downtime they're
taking some trade maybe.
And then there you go't forgetrecognition, to host staff
parties, recognition events orprovide small tokens of
appreciation.
That are all sourced throughbarter.
So again we have anothercompany that goes to one of our
(17:25):
places that's like a bowlingalley and they have, I think,
laser tag and go carts andarcade batting cages.
You know, know they take trade.
So this place will rent out oneof their rooms for their
employee party or whatever, likethat right and they pay that
all in trade.
So it definitely gets used,utilized.
(17:48):
Then you get wellness.
So you got barter networks.
A lot of them offer wellnessservices were helping support a
healthier, happier team at afraction of that traditional
cost they might offer.
So like I just brought on aplace up in Grand Blanc that
does IV drips, vitamin shots,weight loss.
Then you got massage.
Therapy is a lot.
(18:08):
There's a lot of places that dothat.
We have acupuncture in Troy,things of that nature.
So we also have what do youcall it?
Physical therapy.
We have a place that does thattoo on trade, and they have,
like I think, five or sixlocations as well.
So there's that aspect that youknow don't forget about.
So providing all of the extrasboosts the morale and retention
(18:30):
that sets you apart as anemployer, and all without
hurting your cash flow.
So you know, you got therevolving doors out there with
the employees coming and going,so you keep them.
You know extra money doesn'talways necessarily increase
retention.
They can make extra money on aside job.
It's all about how fun of aworkplace maybe it is, or all
(18:51):
the benefits and perks that youprovide, whatever.
Because we don't even havechild care on trade.
So now that one can run up fast, because it's not like $45 a
day or $16 a day for child careright now, so that one can go
real quick, but anyway, maybe aday here and there per month
(19:11):
just to get the kids away and goplay for the day, that's cool
too.
Then you got, of course,flexible marketing and
advertising that you can get ontrade.
So marketing dollars areprecious, but barter can
dramatically expand your toolkit, trade for ad spaces.
So many barter groups havemedia companies, radio, print,
(19:31):
digital ads, and they acceptbarter for advertising.
So stretch your marketingbudget a little bit further.
We do in our association.
We have lots of things that areavenues that you can use your
trade dollars for to get cashbusiness.
For us I always say trade yourexcess time capacity, buy this
on trade, and then you're goingto generate and get in cash by
(19:53):
advertising.
You know, by using your tradedollars it's perfect.
Then you got in-kindsponsorships, often creating or
catering our event spaces,exchanged for branding
opportunities at trade shows,concerts or community events.
Then you got social proof.
Barter partners can promote oneanother by providing authentic
(20:13):
testimonials and reviews.
Now in our association in MetroTrading, we offer like a review
After you go visit a place youcan offer, like you know, one to
four stars and then a commentsection.
So we also have that as wellwithin the group.
These strategies put yourrestaurant in front of new,
relevant audiences, often farmore affordably than cash-based
(20:35):
advertising.
Then you got risk managementand then you get the business
agility of that all right.
So a tough business climatecalls out for out-of-the-box
thinking.
So you got non-cash reserves.
Barter credits acts as a kindof alternative currency or a
safety net, if you will.
If cash runs tight.
You still have buying power Nowin our association.
(20:57):
If you're a good person thatpays your bills and you pay your
fees and we know we can bringyou lots of business, we do let
you go into a credit dip so youcan go into a debt where you pay
.
The interest rate is 1.5% permonth and you pay that in trade
dollars.
So I just had one the other day.
(21:18):
He's opening up a new locationand he needed a attorney to help
him out with the liquor licenseand it was like five grand or
4,500 bucks or something likethat.
It's crazy.
But you know, he only had, Ithink, I think a thousand bucks
or something low in his account.
So we let him go negative.
We gave him a credit line.
He was able to pay the lawyer,save his cash, pay the lawyer on
(21:38):
trade and then, boom, now he'sgot his you know the license he
needed to get up and running andI know we can get a business
because he's an awesomerestaurant Like I go there, my
wife goes there, like we referhim out all the time.
He does big like catering things.
So I know we can get him out ofthe hole relatively quickly and
I think he's already out of itlike halfway there, and that was
(22:00):
just like a month ago, becausehe's got awesome food.
So you know, everything goesdepends on the business, of
course.
Of course, but.
And then you get market testingso you can use your barter to
trial new services or menu itemsin a low risk way.
You got feedback from networkmembers.
That's invaluable, don't forget.
Then you get the flexibilityduring downturns, when customers
(22:22):
are scarce and cash is thin.
Barter helps keep the wheelsturning and can lead to cash
paying customers down the line.
So if you're intrigued, reachout to your local barter network
.
If you're not in my area, youcan still contact me.
I'll give you a referral if Iknow somebody in your area.
We work with everyone acrossthe whole country.
(22:43):
We work really closely with onein Lansing, grand Rapids area.
He refers me in business.
I refer him in business becausewe don't really compete, we're
not really in the same network.
We do cross paths a little bitin Genesee County and Flint, but
Tennessee County and Flint, butonly because he bought the
(23:03):
other exchange that was goingout of business there.
So he bought that up.
So there is some members thatare there, but it doesn't matter
.
And then we work with Coloradoa lot place in Texas anyway and
Pennsylvania.
So if I know somebody, I'llmaybe hopefully reach out and
ask somebody if they knowsomebody in your area that you
might want to join.
Many specialize in servinghospitality and restaurants.
Ask about their member rosterrules and success stories.
Start with a modest commitmentTrade a few seats, a set meal or
(23:24):
gift cards and track theresults.
Speak with peers who havejoined, learn from their
experiences.
So anyway, that's it.
Barter isn't about tradingchicken wings for plumbing.
It's about creating meaningful,mutually beneficial
partnerships that help yourrestaurant lower costs, enhance
marketing reach, reward yourstaff and stay resilient,
especially in volatile times.
So thanks for tuning in to theTrading Post podcast.
(23:46):
If you have stories, questionsor want to hear and connect with
the Barter Network, drop us anote, find us on social media
I'm on Linktree and remember,sometimes the best currency
isn't cash, it's community.
See you next episode.
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.