[jotucker1983]

Lol, boy this thread is a mess. OF_Funder must have been having a bad week or something and just wanted to rant. Maybe that's why he kept posting then immediately deleting his posts?

But getting back to the topic of sales, Karen let's discuss your proposal again:

Anyone want to come to my office and see me and my top brokers cold call off of UCCs and close sales on a bet $$ ??Bring money.

It can be a daily funder experiment.I can get 5 leads on 30-50 dials, and 20 leads close 1.I can do it..and Ive done it over and over and over on many bets..gets tiring. Think what you will.I know this a waste of time.
( and I do not do 3rd 4th positions etc, did a 3rd once for an emergency)

Karen, UCCs are nowhere near as productive as they used to be, and with your estimated production results, you don't seem to be painting the complete picture. Let's break this down:

- You call 200 UCC data records
- You generate 20 "interested" merchants
- You generate 1 "close"

By "close" I assume you mean you collected an application? Or by "close", do you mean that's a funded deal?

Here have been my results on UCCs since about 2015 when EVERYBODY started calling them:

- I do a call rundown on 100 UCC data records

- I will generate about 12 interested merchants because many merchants flat out slam the phone down on your face today because you are the 7th guy that called that day about a damn "cash advance", and he's getting tired of it.

- Of those 12 interested merchants, after pre-qualifying them (what you guys refer to as ISO Underwriting) only about 5 of them pass that pre-qualification. The rest are stacked to high heaven hell, NSFS/Overdrafts through the roof, bad credit, etc., etc.

- Of the 5 that pass, I collect complete applications from 4 of them

- Of the 4 submitted to Underwriting, 2 are approved

- Of the 2 that are approved, 1 funds

1 fund out of 100 calls to UCC records is not a sustainable strategy for any Broker Office today.

Brokers have to utilize other marketing strategies today as UCCs are DEAD. Plus understand something, many companies are not even filing UCCs on the good/quality merchants anymore, many companies are only filing them on the "bad" or "higher risk" merchants, which further delimits the quality of UCC marketing.

[Michael I]

Lol, boy this thread is a mess. OF_Funder must have been having a bad week or something and just wanted to rant. Maybe that's why he kept posting then immediately deleting his posts?

But getting back to the topic of sales, Karen let's discuss your proposal again:



Karen, UCCs are nowhere near as productive as they used to be, and with your estimated production results, you don't seem to be painting the complete picture. Let's break this down:

- You call 200 UCC data records
- You generate 20 "interested" merchants
- You generate 1 "close"

By "close" I assume you mean you collected an application? Or by "close", do you mean that's a funded deal?

Here have been my results on UCCs since about 2015 when EVERYBODY started calling them:

- I do a call rundown on 100 UCC data records

- I will generate about 12 interested merchants because many merchants flat out slam the phone down on your face today because you are the 7th guy that called that day about a damn "cash advance", and he's getting tired of it.

- Of those 12 interested merchants, after pre-qualifying them (what you guys refer to as ISO Underwriting) only about 5 of them pass that pre-qualification. The rest are stacked to high heaven hell, NSFS/Overdrafts through the roof, bad credit, etc., etc.

- Of the 5 that pass, I collect complete applications from 4 of them

- Of the 4 submitted to Underwriting, 2 are approved

- Of the 2 that are approved, 1 funds

1 fund out of 100 calls to UCC records is not a sustainable strategy for any Broker Office today.

Brokers have to utilize other marketing strategies today as UCCs are DEAD. Plus understand something, many companies are not even filing UCCs on the good/quality merchants anymore, many companies are only filing them on the "bad" or "higher risk" merchants, which further delimits the quality of UCC marketing.

Huh .It is easy to call a hundred a day . So on your math,you fund 22 deals a month .average deal size let's say 40k . Average commission let's say 10 % . You are making 88k a month.more then most make in a year

[HDF]

Huh .It is easy to call a hundred a day . So on your math,you fund 22 deals a month .average deal size let's say 40k . Average commission let's say 10 % . You are making 88k a month.more then most make in a year

Not sure you can assume a 40k handle on a UCC data respondent that is stacked to the gills. 15K might be a better estimate overall. IMHO

[Michael I]

Not sure you can assume a 40k handle on a UCC data respondent that is stacked to the gills. 15K might be a better estimate overall. IMHO

OK so making over 30k a month

[jotucker1983]

OK so making over 30k a month

NO where near that amount Michael. Try about $30,000 a YEAR, again, if he's a one man shop having to juggle everything.

[jotucker1983]

Huh .It is easy to call a hundred a day . So on your math,you fund 22 deals a month .average deal size let's say 40k . Average commission let's say 10 % . You are making 88k a month.more then most make in a year

Some notes on your response:

- When you're a one man shop that has to "do it all", you have to juggle a lot of aspects that makes it difficult to run through 100 - 200 calls a day, especially when you actually have a real Pipeline and Underwriting Queue.

- 10% commission is a little out of the ballpark to be competitive. I've done deals at 10%, but the vast majority are 2% - 5%.

I would say if a guy bought 10,000 UCC records for the entire year and he's a one man shop having to juggle everything, this might be his results from the 10,000 records:

* He is able to call through the entire list 2 times over 12 months

* He generates 700 interested merchants after both runs (I'm changing my number from earlier, after reviewing it, I believe it was too high, this range is more realistic with the status of today's UCC records)

* 70% of the interested merchants can't be funded, that's 490. Either they are stacked too high, NSFs/Overdrafts too high, bad credit, etc. That leaves 210 that pass pre-qualification.

- Of the 210 that pass, he collects 168 complete applications

- Of the 168 applications, 84 are approved

- Of the 84 approved, 40 close

- Of the 40 that close, average new deal commission is $900 or $36,000 in total

- Of that $36,000 he has to take out the cost of buying the UCC records, cost of his dialer, cost of his website, cost of his telephone system, and other costs, that might total $8,000 leaving him with $28,000 remaining before taxes.

He better have a good renewal portfolio or to be honest, he could pursue better opportunities elsewhere.