To start a credit repair business or any business, you must think about a credit repair business plan.
In doing so most people will start thinking about what they need. After doing just a bit of research on the internet they may decide they need software, a website, knowledge of state law, and training. That may seem logical. But I would recommend you start from a different place.
Building a Credit Repair Business Plan
Instead of first thinking about what you need, first, think about what you’re trying to accomplish for yourself. What do you want this new business to do for you? How is your new credit repair business going to fit into your life and your existing job or business? When starting a credit repair business first consider the following:
- How many hours per week can you devote to it?
- What are you willing to do to market your new business?
- How much time are you able to give your business before it generates a profit?
- What can you afford to invest in starting a credit repair business?
- Are you willing to do all the administrative labor for your clients?
- If so, will you still have time to find new clients and referrals?
- Will doing all of what is required of you take away from an existing business or job?
- Do you like, are you good at, or are you willing to learn how to sell?
Once you answer questions like these now you can start looking at different credit repair business models. Yes, there are different ways to set up your credit repair business depending on your needs and desires.
Match Your Needs and Desires with the Right Credit Repair Business Model
Time and Money are Abundant
If you have a significant amount of financial resources and time you can start your business from scratch. You can research and buy credit repair software from a company like Credit Repair Cloud. Then build a website, social media pages, start a blog, and all else that’s necessary to drive traffic to your website. You can build a sales funnel for online marketing. And, continually do the administrative work and still market your business to continually find new clients.
Time is Limited, But Money Isn’t a Problem
You can then purchase a credit repair franchise. You’ll have most everything from a credit repair standpoint already set up for you. You’ll only need to focus on setting up the marketing of your business. Hopefully, the franchisor you choose will provide the administrative tools to do the credit repair work. Just know that buying a credit repair franchise starts at $9,500 and goes much higher.
Time and Money are Limited
If this is the case you’ll need to find a business model that takes care of a lot of the setup and ongoing credit repair process for you. You will be charged only a nominal fee to get your business set up. You’ll have a staff that does the redundant work of credit repair for your clients. And, your marketing materials, videos, online marketing tools, website, and more are set up for you from day one. Plus all the state and federal law requirements are satisfied in all 50 states. That means you can do business anywhere in the country.
What is this Credit Repair Business Plan?
In the credit repair industry, people typically spend more time, effort, and money researching how to get their business started than they can afford. They don’t create a credit repair business plan. They don’t consider what they truly want out of a credit repair business. And therefore they either quit before they get started, or they fail just a few months into it.
The Best Credit Repair Business Plan in the Country
We started a credit repair business in 2012. We built that into a business that produces nearly $1 million in revenue annually and a 6 figure income. You can exactly the same thing. All you need to do is take 30 minutes to watch a video detailing the business model and then book a phone appointment to get your questions answered. If nothing else, you’ll be much more aware before you start your credit repair business. But this credit repair business plan and business model may fit perfectly into what you’re trying to accomplish.
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This article which was originally posted in 2018 is updated regularly and was last updated in July 2023.