Tradebank came into Canada in 1996, and sold its first franchise in 1997. John Porter, (Tradebank Niagara franchisee from 1997-2001) purchased Tradebank Canada in 2001 and took over as President. At that time there were approximately 700 Tradebank Member businesses in Ontario. Since 2001 the company has expanded into 3 provences and currently has 7 fanchisees. Edmonton, Southern Alberta, Regina, Kitchener/Waterloo, London, Ottawa, and Northern Ontario. The company head office is located in Stoney Creek and corporately we manage the territory spanning from Fort Erie to Brantford and around the Golden Horseshoe to Oashawa. There are currently over 2500 active accounts in our system and we plan on adding well over 700 new accounts this year alone. We will help our costumers improve cash flow this year by facilitating barter transactions on their behalf that will exceed $10,000,000 in purchases alone. We also plan on selling 3-4 more fanchises this year with our hottest leads coming from Kelowna, Saskatoon, Calgary and York Region (North of Toronto). Other regions that we are interested in selling are Windsor and Barrie as well as Kingston.
What is really exciting though is the fact that last year Tradebank formed a Foundation which aids local charities by stretching their budgets further which in turn allows them to accomplish more.
The Tradebank Funds Matching Program will come along side any Canadian Registered Charity (application must be approved) and help them procure products and services from members of the Tradebank Network. When a charity chooses to make a purchase from a participating business, be it printing, advertising, promotional goods or event costs, Tradebank will cover half the cost at the time of the transaction by making a gift from our Foundation to the Charity. In 6 months, we have already given over $75,000 to local charities and we plan on growing that number in 2012. Our target for this year is $250,000.
Obviously we could not do this without a great team of people and we are extremely blessed to employ a number of top quality individuals.
Tradebank is all about educating business owners that there is an alternative to spending cash. Why not keep the cash in the bank and leverage your unsold inventory or idle time and get what you need. It’s all about reciprocal business! When a business chooses to obtain products or services by spending TRADEdollars they are guaranteeing an equal amount of new business from someone else. To help educate our members we host TradeU’s (Trade University) where ever we have significant pockets of members.