We have many people apply to sell credit card processing with us every day. The top question they ask is: How much can I make in this position? The answer is a difficult one - because at the end of the day their income is based upon how hard they work. It inevitably leads them to ask how much earning potential there is. The short answer: Our top sales reps make over $100k a year. Below is a brief explanation of how they do it.
Every time one of our agents signs on a new client they earn up to $500 just for signing the deal. In addition they will earn a monthly bonus of up to $1,250. This is a great way to put some money in their pocket right away - but it pales in comparison to where the real money is made when you sell credit card processing - RESIDUALS.
What are residuals? Every time one of our clients runs a credit card through their merchant account we make a percentage of the sale. (This may be anywhere from a few pennies to a few dollars.) This is paid to us for as long as the client is processing credit cards with us. The sales rep who brought the client to us earns up to a 60% split of this income. So EVERY TIME the business swipes a credit card our sales representative is making money. This is residual income.
How could a few pennies or dollars possibly add up to a $100,000 a year income? If our rep brings 15 clients to us every month (less than 4 a week) at an average profit of $50 per client per month to the rep they are increasing their MONTHLY INCOME by $750. After 12 months of hard work they have increased their monthly income to $9,000. This is the equivalent of $108,000 a year! Now imagine if you put in that type of hard work for a few years? We like to say that it is totally possible to make a million dollars when you sell credit card processing - you just have to do it $50 at a time!