VO-BB - 20 YEARS OLD!

[Stephanie]

Hello VO-BBers!

A friend of mine who started his own business came out with a book he'd like recorded as an audiobook. I did a demo for him and his business partners that they liked very much - out of my very own apt! Thanks to all for their suggestions in a previous thread. My setup is quite hilarious, but whatever! In short, they'd like me to record and produce the book.

While I've recorded vo's in the past, they've always been produced by an engineer - except for a zillion radio spots I produced myself. So my friend is aware that this is additional work that will be figured into the cost of the project.

Here's the thing - because he's a friend, because this is the first project I'd be recording and producing out of my home and because his own business is a startup - I'm uncomfortable accepting cash from them. Please, no tomatoes. For the record, I have no problem accepting cash from strangers.

My thinking was that we could set up some kind of trade agreement. He's also a personal trainer, for example, and I would be happy to make that kind of exchange. But he has two business partners, and possibly a third entering the fray, and because they're a startup, they would like to work out some kind of deal as well. They're offering payment via promotion on their website, literature, etc. He is also extremely well-connected.

I was wondering if anyone (there has to be someone) has bartered in this way and if he/she felt that it was a fair exchange in the end - by receiving new business, referrals, word of mouth, etc. I don't want to minimize the value of my services (and as a result be a disservice to all vo peeps), as I know that this is a sore spot I've had to deal with myself.

The book is about 100 pages but is about to receive a revision. I haven't given them a quote yet and I won't know the full extent of what they're willing to offer until I come up with a dollar value. And I don't think I'll have a dollar value until I get the word count.

Any thoughts on this kind of arrangement? Many thanks in advance for your thoughts!

[asnively]

Congrats!

When I do trade, I do retail for retail. If, for example, my regular price to a stranger would be $5000 to record an audiobook, and he charges $100 per workout, then I'd better really love seeing this guy every morning for awhile!
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BMW X5

[Doc]

Stephanie,

I'm always reluctant to do business with friends because it often (but not always) ends in bad blood. That's not to say that I've never bartered out my work. However, I always get the agreements in writing. Both sides.

I also made certain that what they're offering is of benefit to me as well. I wouldn't hesitate to ask for an audio credit for the audiobook, complete with web site and phone number to begin with. I'd get their testimonial for my web site. And, I'd make sure that barter was commensurate with the work I have done.

To put it into perspective, a local ad agency is owned and operated by a good friend of mine who, coincidentally, used to be my G.M. at a station for whom I worked uses me exclusively for his "agency voice". He pays me my full fee for all voice work I do and never bats an eye. We never fight nor argue about anything. In fact, if we had not been able to arrange our working relationship this way, I would not have consented to be his voice.

Dunno if any of this helps. But, this is the way I handle things.

Whatever you decide, and that decision is purely subjective on your part, I wish for you great success with this endeavor.

[Jowillie]

What does THEIR accountant say? It may be a lot easier on them to give you the cash value. Barter or trade, it depends on how they declare your service as a business expense.
Have you discussed it with them. Establish how much we are talking about first thing and then figure out a payment or combination of payment method where everyone wins.
WE
_________________
Wild Willie Edwards
www.hometowntvtoday.com
http://vomictest.blogspot.com

[bobbinbeamo]

I've not done trade in the past. I am not a huge fan of the concept, as trade doesn't pay my energy bill, mortgage, etc.
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Bobbin Beam
www.bobbinbeam.com
blog.bobbinbeam.com

[Stephanie]

All good points, thank you.

Normally I would stay away from this kind of arrangement because, no, it doesn't buy groceries. And I *was* hesitant to do a demo b/c this is a friend of mine. I almost hoped that they wouldn't like it. At this point they're adamant, so if/when we proceed I want to ensure this arrangement will benefit both parties. Yes, I'll be asking for audio credit et al, and will put everything in writing - once I figure out an hourly rate. It's also a challenging first project to "cut my teeth on" with the potential for attracting other clients. Another one of those valuable learning experiences, I guess.

Thanks again!

[bobsouer]

Stephanie,

One other factor to keep in mind (and you'll want to discuss the specifics with a tax professional), is that barter income is taxable just like any other income and must be reported on your tax return. I learned this the hard way several years ago when I joined a barter association when I lived in Chicago. (Had some extra taxes to pay that year, which led me to drop out of the group.)
_________________
Be well,
Bob Souer (just think of lemons)
The second nicest guy in voiceover.
+1-724-613-2749
Source Connect, phone patch, pony express

[Frank F]

Bob is right on target (as usual). One other item I would suggest is you get a written contract, which when you complete your part it is signed and sealed. Thereby leaving them liable for their part of the agreement.

Legal issues often abound with "trade agreements". Make sure your client signs on the dotted line and further signs on the dotted line showing completion of your part of the agreement. I might suggest a UCC agreement with the client also - regarding the clients "property" and your rights as a lien holder (under the UCC). Also make sure you get your renumeration in a VERY timely fashion.

Toodles

Frank F
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Be thankful for the bad things in life. They opened your eyes to the good things you weren't paying attention to before. email: thevoice@usa.com

[Deirdre]

Usually with trade situations, someone's ox ends up getting gored.
If you are able to put a dollar value on your services and write out an agreement for the same value services in return, that's fine, but don't expect an equitable trade in the long run. If you go into this project with your eyes open, it's not so bad.
The upshot is that trades usually favor one party.

You said:

[asnively]

I got Lasik surgery for my husband in trade!
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Headaches / Migraines Forum

[Jowillie]

I produced a national newsletter for a partner and he paid me with a Lincoln Town Car. Our accountant worked out some sort of "reimbursed payment plan" and all was right with the tax folks.
Which reminds me to be careful about telling everyone about your barter dealings. I had another friend who bragged on what a great barter he was doing with a dentist and the IRS got him.
_________________
Wild Willie Edwards
www.hometowntvtoday.com
http://vomictest.blogspot.com

[asnively]

I just treated my barter arrangement as regular income.
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what is a recession

[Brett Mason]