Two middle-aged ex-rockers, Steve Woodard and Paul Granese, seem to have bagged the Holy Grail of Web entrepreneurs: to be first in their "space." Their Web site, GigsOnline.com, occupies -- uncontested -- the spot where the businesses of barter and rock 'n' roll in New England converge.

It makes perfect sense when you think about it. GigsOnline.com lets professional musicians in the region -- who, like most independent businesspeople, have cash-flow problems -- trade instruments, sound equipment, or services for other commodities in demand in the music world. You could swap a wawa pedal in Worcester, Mass., for studio time in Boston, for example.

Woodard and Granese, who until recently had a Boston-area rock band called Thum, clearly know their niche. A down-to-earth tips area explains the rules to first-time barterers: "You know the phrase 'sex and drugs and rock 'n' roll? Well, on this site you're only allowed to swap for the rock 'n' roll part."

The site also has classified ads to match musicans and bands, and an advice column called "Audiosity," written by a hirsute fellow named Bob Andriano. There's a spot for downloading MP3 music files so bartenders can give local bands a virtual audition. A section called "Unsigned Heroes" features profiles of local bands.

According to Woodard, the partners, who are both in their early 40s, don't just see GigsOnline.com as a day job to support their music. They're planning to expand the site's scope to New York City and eventually the West Coast. Clearly, this pair is ready to boogie.

By Margaret Popper in New York
margaret_popper@businessweek.com