If you want to start a credit repair business and have already done a bit of searching on the internet you may have come to the conclusion that you basically have two options. The first is to piece together the infrastructure of your business by buying credit repair business software to generate dispute letters, a website, contracts, training, and other essential components. Or, you could purchase a credit repair franchise that presumably has everything you need to get started. We actually are going to provide you a third option to start a credit repair business below that solves a major challenge that the first two do not.
Disclaimer - I recorded this video in 2019. Since then some things have changed including the fact that we have new AI technology that streamlines the disputing process.
To get the latest details watch the video at Credit Repair Business Opportunity
The Challenge in Starting a Credit Repair Business
Neither of the first two options overcomes the challenge of having enough time to not only find clients but also provide the credit repair service for those clients. Finding clients is a full-time job by itself. Doing the work of credit repair is another full-time job. Therefore, the first two options come with limitations to the amount of credit repair business you can generate. To break through this limitation you’ll have to hire staff to go out and get the business or deliver the credit repair service to your clients, whichever part you do not want to do or are least skilled to do. More about this will be discussed below.
What's Your Track Record?
And here’s something else. When you get started and talk to your first sales prospects what are you going to say when they ask you about your track record, how long you’ve been in business, and the results you’ve been able to achieve for previous clients?
Further, and perhaps most importantly, it is imperative to receive training on how to build a business. This is especially true if you have never started a business before. What if you could be trained by people that have already achieved significant success in building a credit repair business? Wouldn’t it make sense to duplicate what they have already done?
What Do You Need to Start Credit Repair Business?
If you have searched around the internet what you most likely found are the types of opportunities mentioned above. Companies that provide pieces of the infrastructure, and others that offer a credit repair franchise.
Before you can decide on a company to work with that offers pieces of the credit repair business infrastructure you’ll want to understand what you’ll need. Here is a partial list of what it takes to start a credit repair business.
What You'll Need to Get Started
First off a website is essential, of course. If you know how to use WordPress or otherwise can build a website, that’s great. Or, you can pay someone to set up the site for you. Either way, you’ll still need to draft text for that website such as frequently asked questions, a marketing video explaining your service, a contact form, an option for a client to sign up for your credit repair service online, and more.
Another important element is giving your client online access to their account and the ability to check on the progress of their service, what items are being disputed, what items have been deleted, etc. This is essential to compete in today’s credit repair market.
You’ll need professionally designed marketing materials- brochures, flyers, videos, business cards, logo. Many companies today have quality videos about their credit repair service.
You’ll have to provide credit repair contracts for your state and other states if you want to do business outside your state. Note that if you want to conduct business outside your own state you’ll have to fulfill all the requirements in each state as you do with your own state.
You’ll need a dedicated phone line for sales and customer support. Using your personal phone for your business not be sufficient.
You’ll, of course, need to find training on credit repair law such as the Fair Credit Reporting Act and the Credit Repair Organizations Act, sales training, and training on building a business that can be done online and in person. Here’s a list of states that require Surety Bonds
What Credit Repair Companies Provide Everything?
There are companies that provide a lot of the essential elements in getting your credit repair business s started. Credit Repair Cloud is one of those companies. The cost will range from $179 to $599 per month for credit repair software. But CreditRepair Cloud doesn’t overcome the big 3 challenges. You still have to do all the work of getting clients and delivering the service, you have no track record, and you get no business-building training.
A Credit Repair Franchise
When we first launched our business in 2012 there were some franchise options. Those companies have now gone out of business. There are many reasons why the franchise option didn't work. Restricted territories, high start-up costs, and franchise fees are a few.
There is also a company once called Credit Repair Nerds that has now changed its name to Credit Repair USA which is not a franchise. They consider you a licensee. According to a video on their website, they’ve been bringing on licensees since March of 2015 and have about 90 such licensees. Licensing fees ranged from $999 to $4,500. They now seem to be offering a new program for $99/month. It's difficult to figure out what their business model is from their website so we suggest you call them if you're interested.
You’ll have to check with them to see if they have registered with your state and followed through with state requirements such as a surety bond. If they have not you’ll have to provide that yourself. Even if they have you may be restricted to doing business just in your state.
The Company That Provides Everything to Get You Started in Credit Repair for Under $300
So, what if you could find a company that provided everything you need to get started as stated above?
All the work of delivering the credit repair and financial services to your clients so your job would simply be to go out and get paying clients.
Credit repair at one of the most competitive rates in the industry.
Decades of experience in the credit repair business.
No limits and geographical limitations. You can do business in any and all 50 states.
You can develop an unlimited team of other Agents and get paid bonuses and a guaranteed residual income for doing so.
You'd have other credit-related services to help your clients save more of the money they earn, grow that money, and learn how to protect it long-term.
Credit repair business training through a flexible online system with recorded and live training sessions.
And, you could get started immediately for under $300
In addition to the credit repair training that is second to none, you get one on one mentorship from someone who has built a business using the same system and is one of the top producers in the company.
If you’re serious about getting into the credit repair business this is not a hard decision.
ERA Credit Services can offer you the opportunity to start a credit repair business, get everything listed above, and do it for under $300 out-of-pocket start-up costs. You can literally start today and begin earning money by the end of the day. We also have the best compensation plan in the industry.
If it sounds too good to be true, it’s not. We have simply found a way to provide a better opportunity. Don’t you owe it to yourself to find out more? Visit Credit Repair Business Opportunity.
This article which was originally posted in 2016 is updated regularly and was last updated in July 2023.