Creating Capital With Gift Cards:

In Chapel Hill, NC, just as in the rest of the country, times are tough. 

Facing a shrunken economy, shops and restaurants are doing all they can just to keep customers coming through their doors.

Even harder than that, though, is the prospect of trying to grow a business in the midst of economic turmoil.  Investors are holding onto their money a bit tighter than normal making it hard for small businesses to get loans.

The Barbecue Joint, a North Carolina treasure, has approached this problem in an interesting fashion.  The business is looking to move into a bigger location and needs about $100,000 for renovations at the new space.

They have generated half that amount so far with gift cards.  The co-owners created a program whereby if you write them a check for $1000, they will give you a gift card worth $2000.  The gift cards can be used for anything The Barbecue Joint offers including food, drinks, and even their catering services.

A group of four loyal customers ended up pooling together $1000 for the restaurant, each earning themselves a $500 gift card.  One of the men, Phil Draper said, “I just think they deserve a chance of success in a different, better location than what they have.” 

It is great to see gift cards used in such innovative ways.  Congratulations to The Barbecue Joint.