How to Run a Utility Bill Payment Agency

Learn how to run a utility payment agency where people can come to pay their gas, electrical and water bills in one place. It does take some time to set up this type of business and you have to charge a fee for the service, but you also have to have a need for this type of business. In large cities where the utilities are so far away and spread out, this service would work great.

Things You'll Need

• Office space
• Accounts set up with utilities
• Credit card machine (optional)
• Bank Account for the business
• Licenses
• Telephone
• Computer

Instructions

1. Find a location for your business that is centrally located. Most utility companies are not local or are in remote locations. You need to be accessible for everyone. This is especially true for people that do not drive or have computer access.

2. Schedule appointments with each utility to discuss your intentions. You must have a plan set up to pay the utilities and have then recorded for each person that gives you a bill and money for payments. Some utilities have software that you can install on a computer for making automatic payments right away.

3. Set up a bank account. This will be where you make daily deposits of the monies you have taken in for the day. If you have an account set up with the utility, they will take the total amount owed for the day out of your bank account on the date you have set up.

4. Apply and buy a credit card machine if you will accept credit card payments. Your bank will have more information on how to do this and what machine to have that can link to your bank account. There is a fee for using credit card machines, so you will need to pass this fee unto the customer if they use a credit card.

5. Apply for your licenses. Depending on where you live and what conditions apply to working with money, you may need a special license for running this business. You can contact your local city clerk to get a list of any licenses you will need.

6. Decide what your fee will be per payment. You want to make money, but you have to consider your customers and price accordingly. This is not a get rich type of business. You need to build up a clientele before you start seeing higher profits. Some people will combine this business with another business and make this a service rather than a sole business.