
RECESSION FOSTERS CREATIVITY IN SMALL BUSINESS
This holiday season has witnessed a flurry of emails from retailers with special promotions and an equal number of emails with warnings about gift cards from major retailers. Hundreds of retailers have plans to close stores across the country making it difficult or even impossible to redeem gift cards. In years past, gift cards were an easy way to give a gift but this year that trend has clearly reversed.
When faced with tremendous uncertainties in the financial markets a small Inn in Gorham, Maine has taken their future into their own hands with the creation of a unique gift card program. This gift card or gift certificate is believed to be the first of its kind and according to the owners, “Creates a one of a kind win-win-win situation. My business wins, the consumer wins and the person who receives the gift card wins. A win- win- win situation.” In today’s economy, everyone has become accustomed to the unfortunate idea of loosing money in the stock market, retirement accounts and the value of our homes. This program stands out as shining example of a business becoming creative.
To call this idea a run of the mill gift card program would be an understatement. It’s almost like an investment/gift card program. What makes it incredibly different and perhaps very exciting is this classy Inn in Southern Maine will pay you just for buying a gift card. Each card comes with two things; first it has a yearly cash back incentive based on the original value of the card purchase. The buyer receives a 4% cash back rebate at the end of every year for a minimum of five years or as long as the gift card program exists. The yearly rebates continue even after the cards have been redeemed. Secondly, at the end of the program the last rebate check is for the original value of the gift card. Yes, the Inn is rebating 100% of the purchase.
The owners agree that the program sounds too good to be true so they often have to repeat the details. If you didn’t catch it the first time, the cards return 4% of the purchase value in cash to the buyer each year of the program and at the end of the program the buyer receives the full face value of the original purchase price even if the cards were redeemed, given away or lost.
Example: You buy 4 gift cards at $125 each for holiday gifts. At the end of the year, you will receive a check for $20. Each year you will receive another check for $20. In this example, its only $20 but you will continues to receive this end-of- year “rebate” for at least five years or until the end of the program. After the program ends you will receive the original amount you paid back. In this example, you purchased $500 in gift cards and now you receive that back. Someone once said there is no such thing as a free lunch but he might just have been wrong.
The Inn offering this unique gift card program is a top rated small Bed and Breakfast Inn located in southern Maine called “PineCrest Bed and Breakfast Inn”. The Inn offers premium lodging; fine dining three nights a week, live music and wine tastings. Although currently a 7 room Inn, the owners are using the proceeds from the gift card program as a creative way to help grow the business.
The gift card program creates a pool of funds that finance an expansion that will house additional luxury rooms, a handicapped accessible room for quadriplegics, an indoor personal spa pool and more. "Picture a Bed and Breakfast Inn with Resort style amenities and affordable" is how the owners describe their vision of the Inn.

For more information on the gift card or gift certificate program go to www.visitmainegiftcard.com. Or you can contact the creaters directly at matt@pinecrestmaine.com or go to www.pinecrestmaine.com
