How
much time will the business require?
Any business requires that you put time and effort into it in order for it
to be successful. The amount of time will depend on your goals. You can
operate either of these businesses either part time or full time. The more ambitious
you are, the more aggressive you will be, which will increase the time requirements.
If you hire sales people and run all other aspects of the business yourself, the business
can be very successful by working 10 - 15 hours per week.
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What kind of person is
successful these types of businesses?
An individual must be self-motivated and very self-disciplined to be successful in any
business. For these businesses you must be willing and able to sell yourself and/or
hire and manage sales representatives; and you must be able to handle multiple operations
tasks and projects. Each client you obtain will have different needs and you must be
innovative to meet those needs. The manuals will provide most of the information you
will need to meet your prospective clients needs and APS is available to provide
additional support when needed.
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Is any
knowledge of accounting required to operate these businesses?
Experience in accounting and/or billing is not necessary to sell these services to
businesses. A general understanding of business operations is helpful. If you do not
have experience in keeping the books of a business, you may want to seek the help of an
accounting professional in setting up your own accounting system.
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How do I get clients?
The manuals includes flyers, brochures and personalized letters which you can use to
generate leads through direct mail. Sample agreements, telephone scripts and
information on how to hire salespeople are also included. We also supply leads on diskette
or on paper. But, again, sales is the primary ingredient of success, whether you as the
business owner does the selling or you hire salespeople.
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There
are many business opportunities available - why are these so special?
These are not gimmicks or fads. They are needed services. They save companies time and
money, and can provide you a substantial on-going income. Also, the investments are very
small compared to a franchise business. You can start either business in your home,
part-time, and go full-time when you feel comfortable. And the income potential is
unparalleled for the size of the investment and the amount of time involved in getting
these set up and running. Once it is running, you can hire others to do the work and just
concentrate on marketing to more businesses, thus building your income to whatever level
you desire.
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What do I
get from Automated Payment Services?
We offer complete business packages, including all the marketing and operating tools
needed to make your business a success. With our support you will save time and money and
eliminate most of the pitfalls which might cause financial failure.
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What kind of
support will I get from APS?
Automated Payment Services can only be successful if its licensees are successful.
For the Payment P Processing offering, APS only generates income, after the initial
investment, from optional annual support fees. For the Past Due Accounts Management
program we generate revenue only on the processing. For either business, APS must
provide a level of support to make its licensee successful or WE cannot be
successful! You can, and should, call for help on the software, administrative
questions, operations - anything at anytime. We will do all we can to help you.
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Am I guaranteed I'll make
money?
APS cannot guarantee you will make money. Many success factors are related to the
individual; motivation, ability, time and effort put in the business, etc. However,
we give you the tools to make these businesses work, but it's up to you to use the tools
effectively. Either of these businesses have the ability to grow rapidly and to
generate substantial profits.
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Can you
describe the Payment Processing industry?
The Payment Processing industry is relatively new compares to the payroll service industry
15 years ago. At that time most companies were processing their own payroll. Today, 1 out
of every 4 payroll checks is produced by a niche third party service such as ADP.
The Payment Processing service business replaces the accounts receivable function in much
the same way the Payroll Processing service replaced a company's payroll processing
function. The simplicity of bank drafts, the efficiency of EFT (Electronic Funds
Transfer), the availability of powerful PCs and software, and the trend for companies to
outsource functions not a part of generating revenue all assure the success, both today
and in the future, of the Payment Processing service business.
You provide businesses with instant collections by debiting the bank accounts of their
customers and electronically crediting or delivering drafts directly to the business. This
saves businesses money by eliminating the invoicing (postage, forms, labor, etc.), as well
as late notices and phone calls, and customers love the convenience.
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What
incentive is there for the customer to have his account automatically debited?
Some companies offer either one-time or permanent discounts off the customers'
fees for enrolling in the automatic debit service some a giveaway (coupons to McDonald's,
etc.) to sign up. Many just sell the convenience to the customer. Some companies offer all
new customers the service as simply an option - pay the full amount or sign up for
automatic debiting.
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What
is the future for Payment Processing Services?
Unlimited! There is very little competition at this time. Banks market this service to
large companies they already have a business relationship with. But banks do not have
sales personnel to market the service to small or medium size businesses. It is this
market that is our niche. No one else can do what you can do for your clients!
So, there is a window of opportunity right now that will mean big profits for those
who get involved now.
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How
much do I have to know about the banking industry?
You do not need an in-depth knowledge of banking terminology to successfully operate a
Payment Processing business. The manuals and materials will teach you the basic terms and
definitions you need to know. With our banking background and the assistance you will get
from your bank, you will get all the help you need, when you need it.
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How
long before I can start my business and make money?
As soon as you complete reading the manual and setting up your business you are ready to
get started. Income can begin immediately from the initial fees charged to a client and
from the Checks-By-Phone service. Income from recurring debits begins four to six
weeks after the first client has been enrolled.
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Are any special
licenses required?
No special licenses or permits are required to operate a Payment Processing Service
business. Bank drafts have been around a long time and are accepted by almost all
banks. The Federal Reserve does not require a special license or registration to
process pre-authorized checks through the banking system. However, processing debits
electronically can only be done through a bank. No licenses are required but you must
establish a relationship with a bank that can transmit to the Federal Reserve System.
Since the bank will make a profit from you, they will be happy to assist you in your
business.
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How much computer
knowledge is required to use the software?
The software (AutoDraft) can easily be learned by people with basic computer skills. The
manual is clear and easy to understand and covers all the menus and options.
Automated Payment Services is available to answer any questions you may have and help you
learn what is necessary.
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Why would companies be
interested in this service?
Virtually all businesses have past due accounts. Internal collection efforts are
expensive and often not very successful. A company cannot address past due accounts
for a cost that is even close to the cost of the service (as low as $9.95 per account),
and the guarantee they will recover the cost of the service makes the service easy to
sell.
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Is this
business considered a collection agency?
Businesses that are classified as collection agencies must follow strict guidelines, post
bonds and are carefully monitored in most states. Collection agencies usually are
involved in collecting money, which we are not. APS is not aware that this business
is considered a collection agency in any state.
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How long before
I can begin to make money?
This is a relatively simple business and can be learned in a few days by reading the
manual and contacting APS with questions. You can then begin making money
immediately since companies pay you when you make the sale.
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