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This is an idea I had a long time ago which I decided to possibly revive. I was hoping to get some input/feedback on your thoughts about the idea. Please keep this on the inside as I would like to keep it private.
Research:
Listia.com is one of the largest bartering website but it is only for physical goods. It has raised about $12mm in funding so far. It works like an auction marketplace.
There are a few other product bartering sites for products (only a handful of large ones), and of course craigslist.
Bartering Exchange Networks (this is mostly for services but can be used for physical goods as well): This is a $12 billion dollar industry. There are many bartering exchange companies, both on a local and national level. Generally it works like this: Businesses join the network (many have one time fees, most have monthly fees). The network has bartering brokers which help to facilitate transactions between businesses and then they collect a % of the value of the transaction (in dollars I believe) even though the transaction takes place with virtual currency specific to that site. Most of these are for local businesses and barter pretty much anything: web design, hotel room, etc.. Some have their own currency cards which are used like credit cards but of course only with points.
My Idea: Freelance bartering website
I want to simplify some of the process, and also start with a niche (for now) to see how it goes. This site would focus only on business services that can be delivered online.
My idea is for something like elance, but only for bartering.
There are legal and tax implications that I need to work out but that shouldn't be a problem as I'm a lawyer and have a lot of friends in the industries.
Example of how it would work: Each user would get points for signing up, and also get points for doing freelance work. So if someone needs a logo design, the designer would get 50 points for creating it (1 point = $1 value). Then he can use those points for something else (programming, contract review, etc..)
I haven't worked out many of the specifics but wanted to get some thoughts first.
Problem It's Solving:
There are a lot of people who have more time and skill than money. They would prefer to exchange their time/skills for services instead of having to pay for them.
Thank you in advance
Research:
Listia.com is one of the largest bartering website but it is only for physical goods. It has raised about $12mm in funding so far. It works like an auction marketplace.
There are a few other product bartering sites for products (only a handful of large ones), and of course craigslist.
Bartering Exchange Networks (this is mostly for services but can be used for physical goods as well): This is a $12 billion dollar industry. There are many bartering exchange companies, both on a local and national level. Generally it works like this: Businesses join the network (many have one time fees, most have monthly fees). The network has bartering brokers which help to facilitate transactions between businesses and then they collect a % of the value of the transaction (in dollars I believe) even though the transaction takes place with virtual currency specific to that site. Most of these are for local businesses and barter pretty much anything: web design, hotel room, etc.. Some have their own currency cards which are used like credit cards but of course only with points.
My Idea: Freelance bartering website
I want to simplify some of the process, and also start with a niche (for now) to see how it goes. This site would focus only on business services that can be delivered online.
My idea is for something like elance, but only for bartering.
There are legal and tax implications that I need to work out but that shouldn't be a problem as I'm a lawyer and have a lot of friends in the industries.
Example of how it would work: Each user would get points for signing up, and also get points for doing freelance work. So if someone needs a logo design, the designer would get 50 points for creating it (1 point = $1 value). Then he can use those points for something else (programming, contract review, etc..)
I haven't worked out many of the specifics but wanted to get some thoughts first.
Problem It's Solving:
There are a lot of people who have more time and skill than money. They would prefer to exchange their time/skills for services instead of having to pay for them.
Thank you in advance
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