It often occurs to me how much different this business of credit repair is than what people perceive it to be before they get into it. As an example, we get calls frequently from people that want to start a credit repair business. And, of course, they want credit repair business training. But they believe the training they need is in how to remove negative items from credit reports. Do they need to know that? Yes, of course. But that isn’t what is going to make them successful in this industry.
The function of analyzing credit reports and drafting dispute letters is clerical work. One shouldn’t expect to be paid a six figure income for that. They should expect to have staff that handles this for their clients while they perform the function that creates the most value. And, that is building a business.
It’s not just credit repair training. It’s credit repair business training.
We teach our Agents how to be efficient and effective at getting clients, referrals for clients and overall, building a large business if that’s what they so desire.
We have a flexible online training program that will fit anyone’s schedule. In addition, our Agents receive one on one coaching from Dale Guiducci. Dale has developed a credit repair business that generates over $1 million in annual revenue. We teach people absolutely, unequivocally everything they need to know with regard to building a successful business in the credit restoration industry.
Don’t sign up for an expensive seminar that will teach you how to analyze credit reports and draft dispute letters. With our company you’ll have a staff that does that for you. Learn how to be a business owner, an entrepreneur in the credit repair industry. Learn how to leverage your time while you build your new credit repair business.
Be in Business For Yourself, But Not By Yourself
The key to success in the credit repair industry is the business model. If you do it all alone you simply won’t have the time and resources to generate the clients and deliver the service. With our business model it’s turn key for you. It allows you concentrate on the revenue producing tasks and let the clerical work be done by a staff of trained people. If this makes sense to you click below and learn more.
If you want to start 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 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.
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.
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, 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 you probably did a search for the following terms-
start credit repair business
how to start a credit repair business
starting a credit repair business
credit repair business opportunity
credit repair business franchise
and terms very similar. 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.
First off a web site 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 web site 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.
There are companies that provide a lot of the essential elements in getting your credit repair business s started. CreditRepair Cloud is one of those companies. The cost will range from $179 to $599 per month. 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.
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 their 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 your 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 Just $300
So, what if you could find a company that provided everything you need to get started as stated above?
And, did all the credit repair service work for you so your job would simply be to go out and get paying clients.
And, offered credit repair at one of the most competitive rates in the industry.
And, offered clients a satisfaction money back guarantee.
And, has been in the credit repair business since 2004 with stellar third party documentation.
And, did not limit you with geographical limitations. You can do business in any and all 50 states.
And, gave you the opportunity to develop an unlimited team of other Agents, and get paid on their business.
And, allowed you to offer other credit related services such as online credit monitoring, credit and identity protection though Lifelock, suggestions and solutions of positive trade lines for your clients, a Will and Trust, a service to help your clients pay off their bills faster, and more.
And, provided you with all their services potentially free and included up to $100,000 in term life insurance.
And, you could get started immediately for $288.00 plus $89/month. By the way, the $89/month is waived after you get your first 5 customers.
In addition to 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 credit repair business, get everything listed above, and do it for $288.00 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?
This was originally published in April of 2016 and has been updated for accuracy.
Thinking about a home based MLM business opportunity?
In the movie ‘Steve Jobs’ there is a scene near the beginning that takes place in the 1980’s where the character is talking about how computers will be in every home and business people will be able to work from anywhere on the planet. Guess what? That’s exactly the situation we have right now about 25 years later. Which is perfect for those who want a home based MLM business.
It is very possible to start a home based MLM business, conduct business, and develop that into a highly successful and lucrative business from “almost” anywhere. Why “almost”? Because you still need to have affordable access to a cell phone for fast, one on one communication. So, let’s just say we’re still somewhat limited although some people have done this from Thailand, Tahiti and other exotic locations.
Of course, you still need infrastructure, product or service fulfillment and other key elements. That’s why an MLM business model is a good option to look at. Most of us realize that a home based MLM business has some stigma attached to it. That’s the old school MLM home businesses where you have to have parties and accost your friends and neighbors. I wouldn’t do that type of work from home either.
So what is the best MLM business out there today?
First let’s discuss, “what is an MLM business?” There are many varied definitions but the core factor they all have in common is that an individual can sell products or services and also develop a sales team that sells products and services. There are many other factors that may be perceived as positive or negative certainly, but consider the following.
What if you didn’t have to “recruit” your friends and family? What if you could make a nice income from just selling services and didn’t have to recruit anyone if you didn’t want to? What if you weren’t great at selling but could develop a sales team of great sellers because the company trained those people for you? What if you could contact people in other professions that had a huge incentive in referring customers to you? What if customers were truly customers and not people that signed up for an auto ship just to get vastly overpriced products at a just slightly better price? And, what if your sales team consisted of highly motivated people like yourself that truly wanted to develop a top MLM business?
Is a home based MLM business a good business? It’s a great business if you can find what I just described. And you can because we are working with such a company. This is our full time career and we are looking for motivated, professional individuals that truly want to find a home based MLM business opportunity.
There is a thorough description and videos for you to watch. You’ll find a company you can be proud, and not hesitant for a second, to represent. Then give us a call. We’ll share with exactly how we built our business, and how we (my wife and I) work side by side building a highly lucrative business from our home near the beach in Florida. You’ll find our contact information on our website and be able to schedule an appointment to talk with us.
Since 2012 over 2,500 people have contacted me because they have an interest in knowing how to own a credit repair business. Most were mainly focused on how to do credit repair, meaning the fulfillment of the service. They are less concerned with discussing how to start, build and maintain a credit repair business which is where I direct the conversation. That’s what they should be concerned with and asking questions about.
There are many issues to tackle when starting any business. Yes, you have to understand the fulfillment piece, in this case delivering results to the customer for credit restoration. But there’s much more to it. What about the state and federal laws, the technology used for fulfillment and marketing, the marketing and sales functions, the competition, and the cash flow?
Do you have a plan to own a credit repair business that encompasses all these aspects and more?
Ultimately it comes down to this question. Do you want to be an entrepreneur or a solopreneur? An entrepreneur is going to use their highest and best value to operate and expand a business. They are not going to perform all the functions of the business. They are going to utilize the efforts of other people that are appropriately positioned for the value they bring to the business.
A solopreneur is going to be in business for themselves but also by themselves. They are going to wear all hats. Sales, marketing, technology, fulfillment, customer service… everything. To attempt this in any business is a daunting task. In the credit repair industry it’s a recipe for failure.
Starting a Credit Repair Business on Your Own
Of course, even if your intention is to own a credit repair business and be an entrepreneur, initially you will most likely start it alone. Just know that setting up your credit repair business and then doing the marketing, sales and fulfillment yourself all take a great deal of time. There is typically not enough hours in a day to do all 3 especially if you want to start a credit repair business on a part time basis. And, it takes very different skill sets. That’s why you eventually want to bring on people that have skill sets and hours you don’t have.
Further, you want to understand what functions brings the most value to your client and to your business. In the credit restoration industry the fulfillment (credit report analysis, drafting dispute letters, and customer support) is the least valuable function with regard to what you can pay someone else to do that job. That’s an administrative function that you can pay and train people to do for a reasonable hourly wage. It does not take a college degree or a large amount of previous experience.
The functions that bring the most value to your business are marketing and sales
To own and operate a successful credit repair business you have to know how to continually get lots of customers and how to sell to those customers. Yes, you can hire people to do this but you’re going to have to pay them far more than a reasonable hourly wage. Marketing and sales skills are honed with years of experience and people want to get paid well for that experience. This is the part you should do, not the fulfillment.
Our business model provides the fulfillment of credit repair services to the client by a well trained staff. All the marketing pieces, a website, brochures, business cards, flyers, folder, product videos and more have been prepared for you. The technology to keep your client, you and any referral source you’re working with updated on the progress for that client is in place. We provide training on how to market and build a credit repair business. And, we show you how to sell credit repair to customers. You get one on one mentoring from someone who is already highly successful in the business.
By watching this video you will understand what is necessary to work in this industry in each scenario. If ultimately the third option in this video makes the most sense for you watch the next video on that page then let’s talk. You’ll see how to ‘Book a Phone Appointment’ with me. We’ll discuss the hours and skills you have and design a business plan that makes sense for you. I look forward to talking with you.
More and more people are interested in starting a credit repair business. There are many companies out there selling software, websites, training certificates and more. In their advertising these companies make it sound so easy to use their products and make a lot of money. But think about it. These companies are selling other people their products and are not in the credit repair business themselves. Maybe they realize starting a credit repair business isn’t that easy. In fact, most credit restoration businesses fail in the 1st year.
It is true that about 43 million American consumers have a poor credit score. It’s also true that 4 in 5 credit reports have errors on them. And, the criteria for lending having tightened dramatically. It would seem that people would be knocking down the door of anyone claiming to be able to increase their credit score. But it’s not the case.
Starting a credit repair business and making it a success is difficult. Here’s why…
You Must Know How to Find Motivated Clients
#1– People can live with poor credit their whole lives. Not everyone with a sub 600 credit score has the need or desire to increase their score. Their poor credit score only hurts them if and when they attempt use their credit. Such as when trying to qualify for a mortgage or car loan. With regard to buying a car they’ll still be able to make that purchase albeit with a higher interest rate. The bottom line is that you have to work hard and be a savvy marketer to find clients. Then you have to be a very good salesperson to convince your prospect to do business with you. Especially if you’re just getting started because you have no track record.
Unless You are Well Capitalized You Could Have a Cash Flow Problem
#2– There’s a federal law called CROA. This law prevents a company that is not a 501(C)3 non-profit, attorney or bank from collecting up-front fees for credit restoration services. Yes, you can charge a nominal set up fee. Most people discount it’s affect because they wrongly assess that monthly fees will make up for it. Here’s the problem. Most people will not continue to pay monthly fees unless they see results quickly. People are impatient and want an increase in their score right away. If they don’t see it they will stop paying the monthly expense. Therefore you’ll have a cash flow problem. You’ll not see the return on your investment of time, energy and money. And you’ll likely fold within your first year. This creates more difficulty in starting a credit repair business.
You Must Price Your Services Competitively
#3– The days of charging thousands for credit repair are over. Ten years ago, even five years ago companies charged thousands of dollars for credit repair. Some still do but the tide is turning. Many companies like ours charge a lot less than even $1,000. Therefore the big profit margins in the industry just don’t exist. If you calculate what you earn hourly you may as well get a part time job and not have the headaches.
You Must Wear All the Hats
#4– There’s not enough hours in the day to build a successful credit restoration business from scratch. People severely underestimate the time it takes. You have to promote the business. Then sell to clients and follow up with clients. Then put in the time to dispute items to the credit reporting agencies, and everything else that goes along with it. This factor alone leads to most people failing in the first year.
There is however a way to start a successful credit repair business.
Work with a company that does all the back end work of analyzing credit reports, drafting dispute letters, providing customer support, and adhering to state and federal regulations. Our company does that and provides a website, an online tracking system, and training. As an Independent Agent our job is to market and sell. This frees up the hours needed. However, that’s not enough. You still have to do more sales volume than one person can do to achieve a significant income.
How do you achieve more sales volume than you can do yourself? Develop a team of Independent Agents. The fact is that no matter the business model chosen there simply isn’t enough hours in the day to make a credit restoration business work on your own. You need help. By developing a team of Independent Agents who are, in turn, building their own Agency you can develop a significant income into the tens of thousands per month. You could never do that on your own.
If your goal is to do credit restoration on the side and make very little money then go buy software and have a go at it. But if you want a long term career where you can earn a significant income and eventually stop working because you have a substantial team of Agents working for you, then contact us. The support you’ll receive will go a long way to help you in starting a credit repair business.
If You Liked the Video, Book an Appointment to Talk with Me!
Since we began representing United Credit Education Services in 2012, we have always strived to be a part of our community and support local businesses. We realize the challenge small business owners face and the huge benefit of referring business to each other. That is why we are proud to announce that ERA Credit Services is now a member of the Central Pinellas Chamber of Commerce.
We are very pleased to be a part of the Central Pinellas Chamber of Commerce.
We have already begun to establish meaningful relationships with business owners in the area. We look forward to helping small business owners with challenged credit as well as real estate, mortgage and banking professionals that need credit worthy clients.
The Central Pinellas Chamber of Commerce is one of the most active groups we have joined. In addition to leads groups that meet every two weeks, there are a variety of events that occur throughout the month that are always well attended by members and guests. As well, there are opportunities to host happy hour or other meeting events for more exposure for our business.
For more than 60 years, the Central Pinellas Chamber of Commerce has been empowering business by providing the necessary tools and resources to help them succeed. This includes networking leads groups, government advocacy and economic development initiatives in addition to programs and events focused on professional development.
If you would like further information about Chamber of Commerce activities and the benefits of joining the Chamber call Membership Director, Kathy Pabst Robshaw at 727-584-2321.
Looking for an MLM or Network Marketing Opportunity was originally posted in 2014 and was updated January, 2017
If you’re setting out to find an MLM or network marketing opportunity you most likely have experience in the industry. Therefore, you want to find a company with the attributes that are important to you. But at the same time eliminating many of the pitfalls or disadvantages you may have discovered with a previous company.
What if you could find a company that offered all the advantages and attributes of a great MLM opportunity but had eliminated many of the pitfalls and disadvantages? Let’s examine what some of these advantages and disadvantages are.
Advantages of an MLM or Network Marketing Opportunity
Residual and recurring income
Utilizing the efforts of other people (OPE)
Start up/ground floor opportunity
Low start up cost
Selling products that are needed not just desired
Unlimited income potential
Disadvantages of an MLM or Network Marketing Opportunity
Ongoing monthly fees/costs for product
Trying to recruit family and friends
Ground floor opportunities usually come from inexperienced companies
Products that are over priced
Products that have competition at retail stores
Selling a product that is a desire not a need
Having to train and manage people
Carrying inventory so people can try the product
Competition from other MLM’s in the same space
Low initial income
If you have experience in the industry you can perhaps add items to each of the lists above. The point is that choosing the right network marketing opportunity is the key. And, you want to have as many advantages and eliminate as many of the disadvantages as possible.
Here’s a company that I believe has done so and something you may want to take a strong look at. Many “traditional” network marketers will find this company to be very unique. It may be a bit foreign to them and they don’t quite grasp the differences.
Network Marketing Opportunity
Financial Education Services (FES) is a 14 year old company so the infrastructure is solid and stable, and they have tremendous scalability. FES is also debt free. It’s a ground floor opportunity without the typical risk associated with a company that is new.
The flagship product of FES is not a product at all. It’s a service, credit repair. Tens of millions of people are in need of this service and will continue to need credit repair long into the future. Because FES and its credit repair division, United Credit Education Services, have not only a 14 year track record but they have already serviced 250,000 customers. And, they both have an A+ rating with the Better Business Bureau.
They also have other financial services that people need such as a will & trust and identity theft protection. Also a service that helps people pay off their debt faster, on line credit monitoring and more. By offering services and not products they eliminate the issue of buying and maintaining inventory. And, the margins for services are far better than for products because there are no manufacturing and shipping costs. Therefore they can actually offer these services for less than traditional businesses can. This puts their independent Agents in a great position to compete in the marketplace and still have a very lucrative pay plan.
Referrals for Sales from Other Professionals
Something that FES has to offer that perhaps no other company in the MLM or network marketing space has is the ability to get referrals for sales from other professionals. Real estate agents and brokers, mortgage brokers and loan officers, auto salespeople and dealers, banks, solar companies and more. Any professional or company that has a need for their clients to have a certain credit score to close business with them is a potential referral source. Individuals and companies in the industries listed above lose a significant amount of their business because their prospective customers cannot qualify due to credit score. The FES Agent can solve this problem by developing relationships with these people who are happy to refer these “lost” prospects to them.
Eliminating the Negatives of Network Marketing
This company certainly provides all the advantages listed above but here’s how they have eliminated the typical disadvantages of MLM or network marketing.
Ongoing monthly fees/costs for product- Agents for FES can choose, and should choose to purchase their services for a nominal monthly fee. But once they have 5 other Agents or customers on the services theirs is now free. No more monthly fee.
Recruiting everyone that you know- FES promotes recruiting of Agents certainly but trains their Agents to look for serious business-minded entrepreneurs. That may be one’s neighbor but more than likely friends and neighbors become customers or simply referral sources.
Ground floor opportunities usually come from inexperienced companies- This company has a ground floor opportunity but is not a start up by any means. It’s the best of both worlds.
Products that are over-priced- FES services are priced lower than what is found in the current marketplace for an inferior service.
Products that have competition at retail stores- the consumer cannot find the services FES offers at a store. They aren’t going to replace these services while running their errands.
Selling a product that is a desire not a need- The services that FES offers are not just a desire. People need what FES Agents have to sell to be able to refinance or buy a home, car, rent a home or apartment, and more.
Having to train your own team- FES provides the top training in the industry. The concept is to plug your new Agents into the training system and allow the top producers in the company to train your Agents. Also, FES trainings are not hype and not just motivational. Their trainings are filled with content about building a business.
Carrying inventory so people can try the product- no inventory is needed
Competition from other MLM’s in the same space- there is none
Low initial income- this may be the best part. An FES Agent can earn a $100 commission on a credit repair sale (Protection Plan Membership with credit repair), and $12/month residually. What other MLM company has a product or a service where one sale can result in that type of pay off? FES Agents can get themselves in a position on a part-time basis to be earning $4,000 or month or more in 90 days or less. Of course, results are based on the individual Agents efforts and time they put into the business. Click here for details and our income disclosure.
Contact Us About This Network Marketing Opportunity
If you are looking for an MLM or network marketing opportunity but want a company that is different, and has eliminated many of the pitfalls in the industry, FES just might be for you.
Contact Dale Guiducci, Vice President with Financial Education Services and owner of ERA Credit Services, an independent Agent of FES and United Credit Education Services.