Bartering for Musicians
How would Favabank be used by musicians?
Learning an instrument is a journey with frustrations to overcome, and rewards along the way. Favabank can be used by musicians of all abilities to help each other to overcome the frustrations and share in the rewards...
Learning through teaching
It is often said that we truly know something when we're able to teach it to others. Favabank offers a way for people to teach others regardless of their own ability. You only need to know a technique or a way of approaching your instrument that your student doesn't know in order to be able to impart a little knowledge. When learning an instrument you can find formal instruction, or pick up hints and tips from others more accomplished than yourself.
Favabank offers a way for musicians to seek learning and teaching opportunities from one another. You might be a good pianist who is also wanting to learn the drums. You could use Favabank to pass on tips on the piano, while seeking advice from a drummer who can teach you how to paradiddle.
Try before you buy
Choosing a musical instrument or gadget can be difficult without having the opportunity to have a play with it first. Other musicians on Favabank might be willing to give you access to their instruments so you can see if it's to your liking before ordering one for yourself.
You might need access to equipment to get a certain sound for your project. You may be able to find another Favabank member who'll be willing to loan you the equipment.
Hiring a musician
Perhaps you're recording a song in your home studio which would really benefit from the dark tones of a cello. Favabank could be used to recruit the services from a local cellist to complete your tune.
Access to a studio
Perhaps you've got a home studio and would be happy to help others to record their music. Perhaps you would like to grant access to your studio in return for Favas?
Somewhere to rehearse
Do you have a space which would be ideal for a group of musicians to rehearse? Bring your space to life with music, in return for a few Favas from the band members.
Drumsticks in an emergency
Suppose you've arrived at your gig and while setting up you realise you've forgotten to pack your drum sticks, or capo. If enough musicians are using Favabank you'd be able to send an emergency SOS to find another local member who'll loan you a piece of equipment for the night.
Favabank might be used to teach one-another in a group setting. This could be with one 'teacher' accepting Fava contributions from the students, or an informal meet-up where everyone can enjoy sharing what they know.
How do I tune this thing?
One of the most frustrating things when starting a new instrument is just getting the basic setup right. Is my guitar tuned properly? Is this the right way to set up my drums? Have I got the right embouchure for the saxophone? Another Favabank member might be available to help you get over these frustrating hurdles.
Getting yourself or your band known locally
As a local artist or local band you may wish to suggest your website as a listing in the Favabank Directory. You could also use the social pages to post an announcement about a forthcoming gig.
Promotional help or business mentoring
If you are part of a gigging band you will be functioning as a business and may wish to use Favabank to source general business advice, or a little help in putting together your promotional flyers, creating a website, making a demo etc...
Where can I borrow a PA?
Sometimes musicians need equipment so rarely that it's not worth owning. A Favabank member might be willing to loan their PA system for that one off gig you've got planned.
Saying thanks for online help
There are some great YouTube channels and personal websites offering free tuition videos. Favabank could be used as a way of saying 'Thank You' for great content as members could transfer a couple of Favas to the host.
Passing on unwanted equipment
If you've acquired an instrument that now lies abandoned in the corner of the room you could always dust it off and pass it on via Favabank to someone who might be able to make better use of it...
A note on tax implications of bartering
If you teach music professionally and use a website like Favabank to offer teaching on a barter basis your barter income would be considered as taxable by HMRC. Any non professional services bartered on Favabank are not considered as taxable.
A note on loaning expensive equipment
Some of the above examples involve the borrowing of potentially expensive equipment. We advise caution when loaning anything of value so please ensure that you are happy with the arrangement, asking for some kind of collateral if necessary. Insurance companies are introducing products to provide appropriate cover for the growing 'sharing economy', Favabank plans to be in a position to offer insurance to members in due course.
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Here we will begin to present some of the ways that Favabank might be used according to specific areas of interest or functions within society:
We will soon be adding more use cases here to reflect the ways that Favabank can be used for all kinds of purposes.
See Suggestions for a list of general everyday uses of Favabank.