ITEX, a membership trading community, is a network of business owners in Murfreesboro and all over the country who trade or barter goods and services.

The ITEX Corporation, now in its 40th year, has become the largest marketplace for business-to-business cashless transactions in the United States and Canada, according to the ITEX team.

In joining the network, business owners agree to accept the digital ITEX trade dollars for new sales. They can then use their trade balance instead of their cash to increase their bottom line or elevate their lifestyle, said Trade Manager Michelle Durden, who manages the ITEX community from the Gulf Coast to Indianapolis, including Middle Tennessee.

ITEX users are often new customers for a business. Business owners with access to this new customer base can benefit by making new sales and saving their cash, Durden said. ITEX members now process hundreds of millions of dollars worth of ITEX transactions with each other every year.

“ITEX is a company with over 25,000 clients throughout the United States, Canada and Mexico,” said Scarlett Ashley, a trade director for ITEX, representing the Nashville area, Indianapolis, Louisville, and Lexington. “We are a barter company. We help connect clients to barter their services or we help them get rid of goods that could be overstock.”

Since ITEX is nationwide, ITEX dollars can be spent locally at participating restaurants and advertising companies, for example, or ITEX dollars can be used for things like travel to Mexico, Hawaii and other beaches and locations, Durden added.

Ashley said most businesses come to ITEX by referral and word-of-mouth, as business owners who know and understand barter like to have as many options as possible for earning and spending trade.

“You can find companies and use ITEX dollars to get your car repaired, go to the dentist using ITEX like I did last week, go out to dinner like you do with regular money—you just do a barter,” said Terry Baird, owner of Exposure Advertising. “I’ve been using ITEX dollars for about 10 years. We use it for the business, and we also take trips on it.

“Anytime my kids have car trouble, I just send them to someone who does ITEX. We also use it to get hearing aids and glasses,” Baird said.

ITEX members pay a small monthly association fee, and a transaction fee, a percentage of the value of each transaction made, in order to be a member.

Additionally, through ITEX’s co-op programs, members are reimbursed half of their ad cost when they include the ITEX logo or tagline in their qualified advertising campaigns.

“As long as you put the ITEX logo on your ad in a publication, you only have to pay for half of it,” Baird said.

Rachel Albertson, owner of Inforule Social Media said, “I have utilized the ITEX platform to fill in gaps when I had open space on my calendar by promoting my business via membership emails.

“I have received business, inquiries, and made some good friends. And when my daughter got married, I was able to leverage my ITEX dollars to reduce my out-of-pocket costs,” Albertson said.

Once a business is a member of ITEX, they are granted access to a mobile app, a directory of businesses accepting ITEX, and a marketplace where products and services are promoted. The mobile app makes it easier to see local members and process transactions with other members of ITEX.

“ITEX is a great resource to bring new clients in to your business,” said Jennifer Durand, owner of The Nurture Nook Day Spa. “Once you’ve sold items or services through ITEX, it’s fun to be able to discover other businesses that you might not have come across where you are able to spend your credit.”

ITEX is different from many digital currencies in that its value against the U.S. dollar does not fluctuate. Business transactions are a dollar-for-dollar exchanges; ITEX members should pay the exact same amount of ITEX dollars for a product or service as they would using U.S. currency.

“What people pay in trade is what they would pay in cash,” Ashley said. “They save their cash dollars when they trade.”

___

Since 1982, ITEX has helped tens of thousands of businesses generate new sales, conserve cash flow, and increase profits, according to itex.com.
___

Business owners interested in joining ITEX can call the trading community’s local office at 615-933-4590 or go to nashville.itex.com for information.
___

The Nurture Nook Day Spa, located at 624 N. Walnut St. in Murfreesboro, offers luxurious spa services and products, and has a gift shop. Visit nurturenook.com for more information.
___

Exposure Advertising specializes in onscreen advertising at restaurants for local businesses. For more information, call Terry Bard at 615-427-9339 or email exposuread@aol.com.
___

Rachel Albertson of Inforule Social Media has an office in Murfreesboro where she helps customers develop their social media and online presence. Contact Rachel at rachel@inforulesm.com, 615-663-4620 or inforulesm.com.