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06-09-2016, 01:48 PM #24
- Join Date
- Mar 2015
- Posts
- 32
I don't see this business being worth anymore.
I know two big ISO's that are cutting down on commissions and are getting ready to close shop. This whole industry isn't hot anymore, let me explain why:
When the New York based guys discovered cash advance 8 years ago people were getting rich quick over-there for a few simple reasons-
The product was unknown.
The big deals came a dime a dozen.
People were uneducated so you could sell them anything.
No competition, leads were trash cheap.
Cold calling actually brought you volume.
The lenders were funding every deal, literally.
But unfortunately today this industry is over. At least from a "get-rich-quick" perspective. Every merchant shops around, especially the big deals. In result it's harder to sell high-priced deals, plus it takes three times the time.
I see that people are investing thousands in marketing and not making anything in return. You spend $5000 on getting leads, you close five deals, by the time you're done you walk out with zero. Take that cash and through into another business. Sell on amazon. Open a car wash. I don't know.. But cash advance is game over.
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