Tailors and Seamstress - 5697

Climate: SWOT (Strength, Weakness, Opportunity and Threat)

Agents servicing the Tailors and Seamstress vertical market are dealing with an industry whose primary strength as a processing opportunity lies in the convenience factor inherent in accepting payments via credit cards and in the increase of add-on sales as cash in hand isn’t a limiting factor.  Historically, business owners within Visit tailors to boost your credit card salesthis vertical market have discouraged the use of credit cards by customers.  Today, the payment climate reflects a willingness for businesses to promote towards payment processing.

Many business owners who do not accept card payments cite two key concerns regarding card payments in general:  fear of excessive equipment costs and start up fees and do not believe sales will increase, rather their cash paying customers will become credit card using customers thus incurring fees.  Although these are by no means the only concerns mentioned, they are heard often enough throughout this vertical market regarding payment processing that you should take pains to address early in your conversation.

For businesses who are not actively searching to make a change from their current payment processing provider one very common concern in this vertical market is  that they have met with other companies who often failed to provide the service levels that were promised.

Opportunities for the agent are (Monetary) equipment purchases and upgrades, (Referral Base) decision makers for the business tend to value an agents specialization in their type of business, and (Portfolio Value) typically does not require as much due diligence and support as other vertical markets; thus a low maintenance account.

The greatest challenges when approaching businesses within the Tailors and Seamstress market are gaining initial interest, pricing concerns such as ‘rates’ and ‘transaction fees’ and gatekeepers which are extremely effective at screening sales professionals.

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