HacksawJimThuggin
All Star
I'd thought about becoming a middle man like this but just never had any real research into it. It was either this or ATM's. I like the residual on card machines over the ATM's tbh.
What's the work load like in terms of marketing and such?
to be honest, most of the agents that we employ who have accounts with us do it as a part time gig on the side... we just recently built a web page, but before that, it was strictly word of mouth... everyone usually knows at least a person or two who owns a business, and chances are, they're getting hosed on their processing; so once you show them that you can save them money every month, they are glad to refer you to some of their close friends who also own businesses... I really suggest it to anyone who wants to make some money on the side.
Like I said, everyone knows someone that owns a business. One of our agents had a friend that owned a few little boutique type clothing stores; all he did was set up the initial meeting and now he gets a $1,000 check from us every single month for doing absolutely nothing
if you're serious about it, I would recommend looking up an ISO in your area (ISO is the company that has the direct relationship with the bank who will provide funding, you'd be an agent under them) and discuss some options... the hardest part is just getting the business owner to give you his merchant statement; once you get that, you can analyze it and tell him exactly how much money he'd be saving within an hour... we usually upgrade their terminals for free, which cost us like $100-$200, but we more than make up for it in the long run