(Note: I posted this message on another forum, and then found this forum, which looks like it has a lot more activity. So I'm posting the message here as well, hoping to get as much advice as possible :) I'm mentioning this so I don't have to defend myself for posting on two forums.)

Hi,

I've been involved in online businesses for a number of years, and have dabbled in the merchant processing business, but have never booked an account. I always wanted to get into the business, but because it always seemed like a cut-throat bait-and-switch type business, I never felt comfortable trying to convince a business to switch processors -- based on 'lower rates' that I'd heard repeatedly would probably be increased within months of landing the account...

But I've been reading the Greensheet for about 10 years and ISO and Agent for a few years as well, and have been drawn to the MCA business because it seems pretty straightforward and appears, at least, to be very profitable.

Years ago, I sold printing to businesses, cold-calling, following-up, and repeat-visiting about a thousand businesses until my print and copy sales were over $50,000 per month.

So I'm wondering if I could do the same thing in the MCA industry? Are there any ISOs or salespeople on the forum who built a decent income cold-calling and canvasing businesses? If so, could you share how it worked for you?

I'm also wondering what the ratios are -- how many cold-calls it takes to get a warm lead, and then how many warm leads you need to close a deal, and what the average deal size is.

Also, I'm wondering who the best MCA lenders are? In the Greensheet, I've seen quite a few (pretty convincing) ads for Capital for Merchants, which is what finally put me over the top, to take this business seriously and give it a shot. But since there are quite a few MCA lenders out there, I'm wondering if there are one or two that are considered the best by those who sell MCAs on the street.

Any advice you can share for a newbie in the industry would be appreciated.

Thanks!
Mark

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