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A little help starting out with a joint venture

by MS2012
3 replies
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Hi all,

I was planning on getting started on being a JV deal maker next week, trying to link businesses together. I was wondering how I would track gift certificates? I'm not talking about having a specific code on them which indicates its from me. What I'm saying is if I distribute the gift certificate to a restaurant and they in turn hand it out to there customer for a free manicure at a spa (valued at $50) and the same people keep frequenting that restaurant and keep collecting the free gift certificates this will cost the spa a ton of money because the same people will continuously be going back. What to do? I am new to all this so any suggestions would help, I have read quite a bit on JV's and this issue really wasn't discussed. If anyone could offer insight into this that would be tremendous, thank you.

Mike
  • Profile picture of the author kenmichaels
    Originally Posted by MS2012 View Post

    Hi all,

    I was planning on getting started on being a JV deal maker next week, trying to link businesses together. I was wondering how I would track gift certificates? I'm not talking about having a specific code on them which indicates its from me. What I'm saying is if I distribute the gift certificate to a restaurant and they in turn hand it out to there customer for a free manicure at a spa (valued at $50) and the same people keep frequenting that restaurant and keep collecting the free gift certificates this will cost the spa a ton of money because the same people will continuously be going back. What to do? I am new to all this so any suggestions would help, I have read quite a bit on JV's and this issue really wasn't discussed. If anyone could offer insight into this that would be tremendous, thank you.

    Mike
    nip it in the bud, print on the cert, coupon whatever, in the redeem info area
    "only good for first time visitors "

    Better worded, but you get the jist, and you dont have to spend money
    trying to figure out how to track things
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    • Profile picture of the author MS2012
      Do you feel this is a good idea to go out and try? or will it not net many dollars? your opinion is greatly appreciated, thanks for responding.

      Mike
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  • Profile picture of the author KimW
    How do you consider this a JV?It just sounds like marketing to me.
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