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Old 2nd April 2013, 11:32 AM   #1
mikebmt
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Hi guys! I just got an amazing idea... I have lots of retail friends who has retail gas station and grocery stores! I am really thinking of starting some credit card processing service! Anyone has any idea about it! Or can anyone think of some business that I can do with 300 c-store B2B and make my living! I see these stores as an asset and instead of trying some products with luck I am actually thinking of using these c-store as assets and trying to think of some business idea which can flourish!
Your input is really needed and appreciated!

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Old 3rd April 2013, 01:43 PM   #2
jgbreeden
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The merchant account reselling business has a nice advantage in the perpetual commissions, but it is highly competitive. Everyone who gets a new business license gets bombarded with solicitors wanting to set them up for accepting cards.

But that group of business connections is definitely an asset worth capitalizing.

Talk to those business owners and find their pain point. What is a common annoying task that they wish the had a better solution for?

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Old 7th April 2013, 03:06 AM   #3
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Quote:
Originally Posted by mikebmt View Post
Hi guys! I just got an amazing idea... I have lots of retail friends who has retail gas station and grocery stores! I am really thinking of starting some credit card processing service! Anyone has any idea about it! Or can anyone think of some business that I can do with 300 c-store B2B and make my living! I see these stores as an asset and instead of trying some products with luck I am actually thinking of using these c-store as assets and trying to think of some business idea which can flourish!
Your input is really needed and appreciated!
I think the best way for you to go about is to approach your retail friends and see the common pain points that they are having. From there you could mould a better idea.

Hope this helps.

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Old 7th April 2013, 07:00 PM   #4
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Agreed. Payments processing industry is a highly competitive industry with very low margins, so unless you have good volume it might be difficult to make a profit.

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Old 9th April 2013, 03:02 PM   #5
mikebmt
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Agreed. Payments processing industry is a highly competitive industry with very low margins, so unless you have good volume it might be difficult to make a profit.
Thank you for your input! I appreciate!

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Old 9th April 2013, 09:14 PM   #6
panthervision23
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I think you and your retail friends have to go deeper with your business plan before you venture this Payment processing industry. Just like the commentators here, it's a highly competitive industry. I suggest you must have a backup plan just in case when something doesn't go as planned.

Try to make up worst-case scenarios so that you know how to deal with threats if they arise.

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Old 12th April 2013, 07:14 AM   #7
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Thank you for your input! I appreciate!
You are welcome

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