For several years I have been blogging and producing videos about how to, and what you need to start a credit repair business. If done correctly the credit repair business can be an incredibly lucrative and rewarding home-based business. However, it’s all about the business model. If someone chooses the wrong business model it can be a failure before it gets off the ground.
The reason I am qualified to share this information is that I started my own credit repair business in 2012. Today that business produces nearly $1 million in annual revenue and provides me a very comfortable 6 figure income. I have worked from home the entire time and control my schedule. My wife and I travel whenever we like. I can decide to work while traveling or have someone on the team work my business for me and shut down completely.
The revenue, income and time freedom I enjoy are all a result of the business model we chose. I cannot stress this enough. You can choose to go it alone and start a credit repair business all on your own. I contend that if you choose this type of business model you will never generate the revenue, income and time freedom you perhaps desire.
What Are You Trying to Accomplish?
I believe that in order to start a successful credit repair business you must look at what you want that business to accomplish for you before you start it. You must also think about what you need to start a credit repair business. What are all the components of a credit repair business? Then decide how you’re going to implement them.
The chart below is a list of items you must consider before you begin any work on starting your business. As you will see there is a lot to think about. You can easily compare starting a credit repair business on your own versus joining our company as an independent credit repair agency owner.
Please note that an independent agency is a business that you own. You can sell that business or will it to your heirs just like starting your own business by yourself. However, as you can see, the advantages are many.
If you want to explore more about owning an independent credit repair agency I give you the process of doing that below the chart.
Start Your Own Business
Own an Independent Agency
Surety Bond if Required by Your State
No Surety Bond Required as you will represent a 501(c)3 non-profit credit repair company which is exempt from CROA
Can only do business in the state for which you have a surety bond or are registered
Can do business in all 50 states and U.S. territories (Puerto Rico, U.S. Virgin Islands, etc.)
Software to Generate Dispute Letters
No software is required as you will have a dedicated staff that generates dispute letters for your clients
Website for Marketing
Build it yourself or pay someone to do it for you. Costs will vary depending on size of site and technology incorporated
Online Marketing Tools for Lead Generation
Must develop yourself or purchase
Individually branded sales funnels and phone apps provided at $20/month with the potential of getting it free
Merchant Services (the ability to take credit & debit cards)
It is very difficult to find a merchant services company that will work with a credit repair company especially when new and not established
Provided by the company at no charge
Pulling Credit for Clients
It is very difficult to find a credit report broker willing to work with a credit repair company. Most small credit repair companies ask the client to pull their own credit
Provided by the company at no charge
Marketing Materials (Brochures, Flyer, Folders, Business Cards) compliant with Federal Trade Commission & state law
Create yourself or pay someone to generate FTC and state compliant marketing materials
Provided by the company at a nominal fee
Capital Required to Get Business Started
Estimated to be between $2,500 and $10,000
Time Required to Get Business Started
Could be weeks or months depending on owners commitments to a job or other business
Be in business today
Credit Repair Training
Online or seminar courses. Costs will vary
Training on the credit repair process and federal laws, and the probability of item removal provided at no cost
There doesn’t appear to be any specific training available on how to build a successful business
Online video training, live weekly training through the internet, and one on one coaching provided at no cost
Online Client Progress Reporting
There doesn’t appear to be any specific software available to give clients online access to their credit repair progress
Provided to the client and the independent Agency at no cost
Client Services Provided
Typically only removal of derogatory items limiting the increase in clients credit score (Payment History 35% of score)
Provided by business owner or staff must be hired. This can be a challenge if business owner is committed to a job or other business, or working with new clients
Provided by company at no charge 9 am to 9 pm Monday – Friday Eastern time in English & Spanish
Keeping referral sources, such as real estate & mortgage professionals, up to date on the progress of the clients they refer to you can be a challenge. There doesn’t appear to be any specific software available for this
Referral sources receive an online portal linking them to progress reports of the clients they refer to you
Business Growth Potential
Limited based on the owner doing all the credit repair admin work, marketing, sales, and all other aspects of the business. If staff is hired it reduces profits generated from clients
Unlimited for 2 reasons. The company and staff provide all work and materials except marketing & sales. And Agencies, at no cost to them, can bring on an unlimited number of independent Agents to expand the business throughout the country. As the number of Agents grow so does the revenue & profit from the business
Because all knowledge of credit repair and building a business must be acquired at a cost, it is beneficial that the owner have as much previous experience as possible
No previous credit repair or business experience is necessary. Of course, if the Agent has previous experience in either it will help their business grow faster
If You Want To Learn More About Joining Us
as an Owner of an Independent Credit Repair Agency
Watch This Video for Details
If You Like What I Shared in the Video About Working with Us
in the Credit Repair Business, Lets Talk!
Click the icon below and pick a day and time that works for you.
I’ll call you at that time.
We’ll have a conversation to see if this credit repair business model is the right fit for you.
I hope you got value from this post. That is my goal.
If you did, you can get notified of new blog posts as I publish them. Just enter your Name & Email Address.
“That is the only email you’ll get from me and I do not distribute my subscriber’s information”. – Dale Guiducci