We’ve discussed before in a previous blog post, Starting a Credit Repair Business for Under $500, that typically there are two options when starting a credit repair service. The first is to spend up to $25,000 on a credit repair franchise. The other is to piece it all together and buy all the necessary components to begin your business in the credit repair industry.
Of course, that previous blog post goes on to share how you can become an Independent Agent with our company and have the best of both worlds. You can own your own credit repair business but not have to start from scratch. Everything is provided for you for under $500.
An Important Question to Ask Beforehand
There is another important decision to make, however. Actually it’s a question you have to ask yourself. The answer to this question will dictate what direction is the best for you to follow. The question is, “why are you getting into this business?” This is a simple question with a complex and very valuable answer. Typically people get into credit repair for one of two main reasons, or both. They want to help people, and/or they want to make money.
If you want to do either or both you must then ask yourself how many people do you want to help? And, how much money do you want to make? If the answer to either of those questions is a lot, or a significant amount then here is the stark reality of this business. You can’t help a lot of people nor make a lot of money on your own.
Starting a Credit Repair Service Takes Hard Work!
In order to help a lot of people in the credit repair business you have to have the time and skills to market and sell your service, and do the administrative work on the back end once you get the clients. The time to do both is almost always under estimated by people that have no experience in this industry. On top of that you have to charge a reasonable fee. The days of charging $1,000 or more for credit restoration are over. There are too many companies out there doing it for far less. If you compete for business charging a similar fee you won’t have enough revenue coming in to make it work.
There is an answer when starting a credit repair service, and we’ve found it. By having other Independent Agents running their own credit repair business and yet getting paid a percentage on what they do while you are running your own business, you can build a large operation on a regional and even national scale. This is a concept that any successful company utilizes. Your income is not just dependent on your own efforts. It’s now derived from the efforts of many others.
In addition, these Agents that are now helping you build your business while they build their own are being trained not by you, but by our training company. In fact, they are being trained by the same people that are training you. The individuals doing the training have all established a credit repair business that is generating at minimum $50,000 in revenue per month over $250,000 a month. This certainly qualifies them to teach you and your Agents how to be successful in this business. They are helping a lot of people.
Additional Factors to Consider
There are so many other factors to consider as well when starting a credit repair service. What are the laws in your state regarding credit repair? Do you have to register with your state and purchase a bond? How are you going to generate enough revenue if you cannot charge upfront fees? By the way, did you know that you cannot charge upfront fees? By becoming an Independent Agent with our company you don’t need to worry about any of this because we have taken care of all state requirements. And, because we are a 501c3 non-profit organization and our staff does all the credit repair work, we (and you) can charge upfront fees. Did you catch that? Our staff handles all the admin work so you have time to get more customers!
If you consider everything you should before entering the credit repair industry you’ll see that our business model is brilliant. It offers you everything you need to build a very large, or even small, credit repair business. You do not have to invest a fortune. You do not have to deal with all the regulations and laws governing the industry. And, you’ll have time to develop a steady stream of customers. You can be in business today.