International Monetary Systems, Ltd. announced that it is launching a franchise division.

The company, which presently serves more than 23,000 cardholders in fifty-one existing markets, hopes the new franchising division will enable it to introduce the IMS barter network to thousands of additional businesses across North America in cities where there currently is no IMS presence.

IMS’ CEO, John Strabley, stated, “Until now, all of our offices have been corporate-owned. Yet, in the current economic climate, all progressive companies that have a strong foundation are looking for additional ways to grow. We believe that offering IMS barter franchise opportunities to creative-minded entrepreneurs will add another dimension to our expansion efforts. Furthermore, we have been receiving frequent unsolicited requests to purchase a franchise from business people interested in bringing the IMS business model to their markets.”

Mr. Strabley also announced that Richard Harris, the former owner of National Commercial Exchange in St. Louis, MO, will oversee the IMS franchise division.