Expansion is has been a key focus of Profile fashion accessories and now with 5 stores, saving on cost of expansion and transportation of stock has been very important to their bottom line.
12 years ago they made the decision to join Bartercard and at first, didn’t fully appreciate its benefits but once they got proactive things really started to happen.
“As a retailer, one of the major benefits of being a member of Bartercard is having Bartercard trade dollars to spend when cash is not so readily available. Being able to generate sales through the Bartercard international website is a fantastic extra income generator that we fully utilise.” says store owner Jonathan Deen.
Profile Fashion have also done some big deals utilising the Bartercard interest free line of credit as they have been able to buy in bulk which they couldn’t have done in the cash economy. This assisted their cash flow as they were able to purchase from Bartercard suppliers, using trade dollars, and then on sell various products for cash.
“We purchased $120,000 worth of shoes from a Bartercard supplier. After 7 months of promoting in shopping centres and online we sold out and made a $30,000 cash profit even after the warehouse rent and other on costs were taken into consideration!”
“The beauty of having the trade dollar is we plan our spending so we can reduce our business expenses, this way we are reinvesting into our business.”
Profile Fashion generally spend on printing, posters, accommodation and transport for when they visit their other stores and regularly use removalist on Bartercard to shift stock. It has overall been a great system and meant a big deal to their bottom line.