Credit card terminals are used to authorize and charge credit card payments in most brick-and-mortar establishments. Credit card terminals can be wireless or they can connect to a computer and remain stationary. Credit card terminals range in price and being a dealer or reseller for these devices is a lucrative business -- any business owner that would like to accept credit cards needs a terminal.
Review your current knowledge of computer systems and/or credit card terminal equipment. Having an understanding of credit card terminals will allow you to comfortably discuss which terminal is necessary for each unique business owner. Research merchant processors to began getting an understanding of the current terminals on the market (see Resources).
Legally establish a business and obtain an employer identification number. Your lawyer can structure your business as a corporation or LLC with your Secretary of State or you could do so yourself by visiting your secretary of state’s website.
Obtain an employer identification number (EIN). This is issued from the Internal Revenue Service. You can obtain one for free by going the IRS' website and applying or printing form SS-4 from the website and mailing it to the IRS. Contact an IRS agent over the phone if you prefer to receive your EIN this way.
Locate companies that are willing to wholesale credit card terminals and point-of-sale equipment. Research import/export sites like Tradekey.com to have your credit card terminals purchased from overseas. Purchasing terminals wholesale will allow you to charge any retail amount when selling them to your business owners. Wholesalers will expect you to have proof you are in business (EIN and corporation).
Partner with merchant account processors to sell credit card terminals. Merchant account processors are responsible for accepting credit card payments for the business owner and charging a percentage and transaction fee. Contact your local bank and other merchant processors (see Resources) to determine if you can sell terminals to their customers or to their business itself.
Contact your local chamber of commerce to determine what new businesses were recently established and offer your services to these businesses. You can contact them if a phone number is provided, or mail a flyer, which you can create using desktop publishing software purchased from your local office supply store.
- credit card terminal image by Igor Zhorov from Fotolia.com