The commercial – sales and service market affords the agent an opportunity to use his or her past work history to open relationships and sales not primarily focused on by the average payment processing agent. Commercial business opportunities typically fall into two categories – product sales and service sales.
- Businesses whose focus is the sale of products primarily deliver goods for resale, wholesale or industrial purposes. Photo equipment suppliers, air conditioning sales and plumbing supplies all fall within this category.
- Business whose focus is the servicing of commercial accounts delivers services for businesses, contractors and specialty consumer needs. HVAC repair, installation of heavy equipment and machinery, and the servicing of industrial accounts all fall into this category.
Commercial – sales and service business relationships often ‘cohabitate’ with other vertical markets. As an example, a business whose focus is the sale and service of commercial grade kitchen appliances may be included within this vertical market niche. It may also fit well within the restaurant vertical market. And if they focus more on installing high-end kitchen appliances in new homes for the wealthy, this company may fit well in the retail vertical market.
Some relationships may be very large, servicing many businesses. Becoming the ‘preferred merchant services provider’ for such an organization could be a tremendous boon to your business model.
A unique opportunity when servicing businesses in this vertical market is for you to become a member of any association that provides ‘trade journals’ to the respective industry. Having work experience with the focus vertical market you will develop is often a significant benefit.
Do not invest significant time or energy on the larger national accounts unless you possess an advantage that will bring you to the top decision makers. There are literally thousands of opportunities in this vertical market, and generally, these markets are not as overrun with processing sales outreaches, as are other vertical markets.