ITEX is the largest trade exchange in America, and has been in operation for over 31 years. Here’s a recap of this year’s convention:

The 31st Annual ITEX Convention in Orlando, Florida last week was an event to remember. Fast paced and filled with workshops and training sessions on new account growth and customer relations, and lots of discussions with other ITEX offices about trading opportunities.

The event culminated with a presentation from our Chief Executive Officer, Steven White, outlining “Barter Matters” and “The ITEX Advantage”.

“Barter Matters”…….What does that mean?

• ITEX generates millions of dollars in new business for members acrossthe USA and Canada

• Members save precious cash on business expenses and enhance their personal lifestyles

• Our transaction platform is state of the art for our members to buy and sell

• We’re committed to the financial stability of the parent organization so members are confident in our currency

• ITEX franchises are managed by professionals that are ‘vested’ in the success of members’ businesses.

The ITEX Advantage comes in many forms – the depth and breadth of our Marketplace; the strength of the Broker Network; the ITEX platform technology; our corporate management team and staff; ITEX’s financial stability and our industry experience.

The ITEX Advantage allows all involved to work with friends who may be members, brokers and staff, and to assist each other to build and improve the value of their businesses and enhance members’ personal lives.

New initiatives unveiled:
• Launch of our new website, www.itex.com and updated marketing materials

• Launch of a major marketing initiative to attract new members and new franchisees

• “Barter for the Cause” –to expand our charitable organization members and support those in need.

Some facts about the ITEX Marketplace:

• 90 offices serving 23,500members; the broadest reach of any trading community in North America

• ITEX offices employ more than 350 professionals

• The Marketplace is processing $140 Million in Gross Merchandise Value annually

• Our web based secured network posts an average of 1,000 transactions every day

• No debt and profitable for the 9th consecutive year provides ITEX a secure and growing future

• ITEX does not deficit spend ITEX dollars. This means we don’t “create” them, nor spend what we don’t earn.

• Broadest member benefits in the industry:
- Lines of credit available without burdensome processing
- ITEX.com, 24 hour authorizations, and real time accounting
- Advertising Co-Op Program ITEX is the undisputed leader in the barter industry in size, transaction volume and services to members.

All of this being said, it doesn’t mean much if we don’t meet YOUR needs. Our TEAM is committed to providing sales and purchasing opportunities to grow your businesses, through quality customer service, delivered in a timely manner. This is our national mission, and it’s supported with our local broker-owners.

Your phone is very different than phones a generation ago. Landlines to cell phones. Machines to automated voicemail and text, even email. Similarly, barter has evolved, is easier to do, and allows you to do more than the “old-school” barter of yesterday.
(excerpt of CEO, Steven White’s keynote address at ITEX’s 31st annual convention in Orlando, Florida)

Organized retail barter started in 1960 with the founding of Business Exchange in Los Angeles, a company acquired by ITEX in 2005. Back then, the telephone and face-to-face meetings were the primary tools to complete a transaction.

Over the last five plus decades, our industry, led by the people either in ITEX or people who came to ITEX through acquisitions, has made significant strides forward with the help of technology, better business practices, and the longevity of many industry veterans, many of whom are in today’s audience.

Retail barter’s evolution is somewhat similar to the evolution of the telephone. Allow me to share a historical parallel. Alexander Graham Bell launched the telephone March 10, 1876, when his voice was transmitted by wire to his assistant Thomas Watson. Since that day, the telephone has completely revolutionized the way we live, socialize and conduct business.

I am a firm believer that barter, led by ITEX, will become a revolutionary tool for small businesses. Over the years, the telephone evolved from an ‘operator’ plugging in a wire to connect a call, to rotary phones with party lines, touch pad phones, to portable phones in your home and cell phones. Along the way, but mainly beginning in the 70’s, telephone companies added features like voicemail, call forwarding, call waiting and on-hold messages. 911 was added for emergencies and 411 for directory assistance. In order to expand the one-to-one phone call to include others, further improving their service, companies added conference calls and video conferencing to add more individuals in the communication.

What I find most amazing about the evolution of the telephone is that basic phone service, the ability to dial a number and talk with some else, has not changed much, however;the continual improvements and all the available features have made the phone almost impossible to live without. Even with all the innovative changes, the telephone is still used for one primary purpose: talking to others. Barter is still used for one purpose: “trade something you have for something you want”

ITEX has expanded and greatly improved the trade transaction and we have created many valuable and useful tools for our modern-day users. Over the decades, ITEX and our dedicated team have continually worked to improve the manner in which businesses participate in our trading community, growing in size and reputation, and becoming the defacto leader in the industry. Some of our accomplishments appear simple, yet are actually quite sophisticated.