Materials that organize our core content into an action plan for 2016
How to Sell Corporate & Multi-Location Merchant Accounts – #2016Workshop
How to Sell Corporate & Multi-Location Merchant Accounts
For years now there have been two big holes in my training. The first one is understanding interchange. I used this knowledge to sell larger deals and to better service all my accounts by lowering the cost of processing without lowering my fees or margin, but I have always felt it was just too complex to squeeze into a ten minute video on YouTube. The other hole has been a comprehensive training program on selling larger, corporate accounts such as multi-location or regional businesses that are headquartered near you. Well, I finally have the format for this training with the #2016Workshop. Today I want to give you a taste of what it takes to sell these larger accounts and what you can expect to make once you have this skill set.
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Let’s start with the opportunity. The average multi-location business with a corporate headquarters has between five to twenty locations. Conservatively speaking, say your average multi-location sale will have ten locations. These locations are almost always doing well over $10,000 per month in volume (usually much higher), so that means your approval bonus would be $4,000 on a ten location deal ($400 Approval Bonus x 10.)
In addition to your approval bonus, we offer a 10X profit true up. In my experience, you will usually make an average of $60 per month, per location in residuals on most multi-location deals. That means $60 x 10 = $600, plus you already got $400; you would receive an additional $2,000 true up on this ten location deal after three months. This also means your residual income would be $600 per month or $7,200 per year.
In your first twelve months, the average multi-location business will generate $13,200 in profits for you!
Imagine if my #2016Workshop can help you close three multi-location deals next year? That means your income would grow by well over $40,000, and you would be adding almost $2,000 per month to your portfolio income. Today let me share five facts you might not have known about selling multi-location businesses. Then join me this Monday night to learn about the extensive training sessions and workbook chapter on selling multi-location businesses.
Fact #5 – Most corporate owned, multi-location businesses have terrible pricing. This might surprise you, but think about it for a second. The reason small businesses are so saturated in terms of payment processing is that the owners are getting called every day and sales people often walk in. No one is walking into corporate office buildings and pitching merchant services. To get a decision maker on the phone is almost impossible. This means that these large companies often go for three years or more without receiving competitive processing bids.
Fact #4 – Multi-Location business owners network with and trust each other. The first multi-location deal I did was honestly really tough and took me several months. But after the first one, getting multi-location deals got easier and easier. Once you show that you have what it takes to service a large account, word will spread quickly and referrals will start coming your way!
Fact #3 – You already come into contact with amazing corporate owned, multi-location prospects in the field. The odds are that you just don’t ask the right questions or know what to do with them. How many times when a prospect told you, “We are corporate owned” you just walked out? Or maybe you knew the business was corporate owned and didn’t even bother to walk in! What a waste! Let me teach you how to move forward with these deals while still protecting your core prospecting time for the “mom and pop” shops that bring in the steady income.
Fact #2 – Finally! a logical sale! This one may not make sense to the new rep. But for those of you who are veterans, I know this will hit home. Multi-Location businesses go with the most logical vendor, not the one with whom they connect emotionally or about whom they feel good. They check your references, run the numbers, and make a decision. I will teach you how to get your foot in the door. After that, getting the sale will come down to the numbers and the risk. It is truly a very straight forward sale once you get the decision making process nailed down.
Fact #1 – Dishonest or novice reps have zero chance of competing here. This is great news for you if you plan to complete our #2016Workshop. Don’t you get frustrated with all the dishonest reps who come in and steal your prospect by making a ridiculous promise they can never keep or by telling the merchant something that is clearly not true? Multi-Location, corporate owned businesses are very, very good at weeding out these sales people. They ask tough questions and expect expert answers. If you are serious about this industry, now is the time to get the knowledge you need to go after some big fish and get paid what you deserve.
I am so excited about this portion of the training. I honestly believe this training alone will double the income of many sales partners in 2016. Will you be one of them?
JOIN ME MONDAY NIGHT for the special, live webinar event! #2016Workshop