Who has created gift certificates before?
 

Hello Team

Who has created gift certificates to promote their goods and services?

In particular, how did you partner with hotels and travel vendors?

Please share.

Thank you

Re: Who has created gift certificates before?
 

Been doing that for years.

You should offer that in lieu of payments when ever you can.

For instance i owned a restaurant and we had to get some plumbing work done so i knew a plumber that come by and eat regularly. i proposed to him looking to get some work done and if i buy the materials would you take gift certificates for the labor? He basically said no. So i grabbed the phone book and started calling.

5 calls in got a guy that said Sure! No problem. Cost to get the work done was $1800 with me paying about $200 in materials. My food cost run about 22% so on the surface it appears that it cost me $352. It would have if not for breakage. Breakage is the % of gift certificates that are not redeemed before the certificates expire. Breakage is a Billion dollar business in the gift card industry. Incidentally the l longer you give someone to redeem the higher your breakage will be.

To partner with hotels and travel vendors you must have something that they can use or be of use to their customers.

You will get much better value trading service for service or goods for goods.

Thank you
 

I appreciate the detailed case study.

I think a light bulb has finally turned on...

Thank you

A couple of good reads.
 

http://edwardlowe.org/to-barter-or-n...nd-services-2/

https://www.forbes.com/2009/11/11/ir...ance-wood.html

Smaller mom and pop type places are more open to exchanging "in kind" services. It used to be a staple of the non profits.

GordonJ