2019 has been a year of change if nothing else. Stricter government regulations on the credit repair industry have kept our company busy making sure it and our Independent Agents are compliant in every way. In addition, we have been continually enhancing our product offering to our clients to include non-credit related products and services to help people save money. So, it was time, perhaps a bit earlier than I anticipated, to release a brand-new credit repair business overview video entitled, Start a Credit Repair Business for 2020 and Beyond.
Major Change in the Industry
Since 2012 when I first started my own credit repair business, I see a major change. It is far more difficult to start a credit repair business on your own now than ever before. It’s not just the government regulations. Although that is an issue. Even if, as a credit repair business owner, you learn the laws and try to abide by them, you may still get contacted by your state and be asked to make changes to your marketing or other practices.
But it’s also the competition. As in other industries, the larger players dominate advertising on and offline. They can afford to charge lower fees and beat the smaller companies that way as well. So, even if you figure out how to get your business up and running, you need to compete with much larger companies for the clients.
Work with Us and Stay Ahead of the Competition
That is why working with us is a great way to go. Collectively we are a major player. Our attorneys stay on top of all state regulations. And, we have done something no other company has done in this industry. We have other services that we give our clients at no extra charge. And, we charge less than any of the major players out there. Therefore, by working with us you stay ahead of the competition.
Start a Credit Repair Business for 2020 and Beyond, my new video, is going to share all the details. It’s 30 minutes long. So, get in a place where you won’t get distracted and take good notes. I love videos because they share 100% of the correct information 100% of the time. And they never forget to tell you something. But once you watch the video, you’ll then be able to book a phone appointment with me. We can get into any questions you may have. And, I’ll share with you my 7 plus years of experience in the industry. You can then make an informed decision if this is the right fit for you. I look forward to talking with you.
If you’re looking to start a credit repair business you may have come to the conclusion that you basically have two options.
Option 1- Piece together the business by paying separately for software, a website, contracts, training and other essential components by buying kits, CD’s and manuals.
Option 2- Purchase a credit repair franchise that presumably has everything you need to get started.
We actually are going to provide you a third option for a credit repair business opportunity below that we believe you’ll find head and shoulders above the first two.
A Challenge to Overcome to Start a Credit Repair Business
Neither of the first two options overcomes a major challenge in the credit repair business. You need to have the time to not only find clients but also perform the credit repair service for these clients. Finding clients is a full time job by itself. Doing the work of credit repair is another full time job. So, to work with either of the first two options there will be a limit to the amount of credit repair business you can generate. Or, you have to hire staff to generate the business or provide the credit repair service, whichever part you do not want to do or are least skilled to do.
If you have done any homework on the topic you probably did an internet search for the following terms as we did:
start a credit repair business
starting a credit repair business
credit repair business opportunity
credit repair business franchise
and terms very similar. What you found are the types of opportunities mentioned above. Companies that provide pieces of the business, and others that offer a credit repair franchise.
What You’ll Need to Start a Credit Repair Business from Scratch
Before you can decide on a company to work with that offers pieces of the credit repair business you need to understand all the pieces you’ll need. Here is a partial list of what you would need to start a credit repair business.
A Web Site– and 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.
Marketing Materials– brochures, flyers, videos, business cards, logo
Credit Repair Contracts for your state or other states if you want to do business outside your state
Credit Repair Software to assist in the credit repair process, sales tracking, and accounting
A Staffed Phone Line for customer support
An Automated Process for updating clients on the their credit repair progress
We found no companies other than the third option which we’ll reveal below that provides all these pieces.To put it all together, costs will range upward from $1,000 to start a credit repair business. But that does not include many of the missing parts of your business. You can estimate the true start up costs yourself but our figure is conservatively at $10,000 over the first year.
Credit Repair Franchise
There is the credit repair franchise or licensee option. We found a few although there may be more.
There is also a company called Credit Repair USA which is not a franchise. They consider you a licensee. According to a video on their website as of the update of this post they’ve been bringing on licensees since 2015 and have about 200 such licensees. Franchise Gator lists their fees at between $199/mo to $1499/mo.
Challenges with a Credit Repair Franchise
Let’s assume each of these franchisors or licensors provides you with everything listed above. And let’s ignore for the fact for a moment that many credit repair franchisors have gone out of business. That, of course, leaves their franchisees with no benefit to the money they spent on the franchise. You still have to consider that franchisors typically limit your territory.
And what really are you paying thousands of dollars for? None of these companies have a household name. If you buy a Subway sandwich franchise you’re getting a recognized name and national TV exposure. But none of these companies will accomplish that for you. And, are they going to satisfy the requirements in your state or do you have to do that?
The Best Solution to Starting a Credit Repair Business
Option 3- So, what if you could find a company that provided everything you needed to get started in your credit repair business? And, you got everything from Day One.
Website- you have a personalized web site built for you. It’s complete with frequently asked questions, marketing videos explaining your service, a contact form, an option for a client to sign up for your credit repair service online, and much more.
Online Marketing- if you want to use social media and other aspects of the internet for marketing you’ll have landing pages and a contact management system. If you want to do build a credit repair business online, you’re ready to start posting and placing ads.
Marketing Materials– you’ll have immediate access to professional brochures, flyers, folders, videos, and business cards. These materials are compliant with all state and federal regulations, and laws.
Credit Repair Contracts- you’ll have digital contracts right on your website for all 50 states. And that’s how you’ll enroll your clients, right online.
Credit Repair Software- we have the most sophisticated credit repair software in the industry. However, you won’t have to learn it because you’ll have staff provided to you. These highly training credit repair personnel will pull credit reports, analyze those reports, draft dispute letters and get them processed. All that information will be uploaded to your online portal for your review.
Customer Support- again you’ll have a dedicated team to handle all your client calls, answer questions and update you if needed.
Automated Client Reporting- each of your credit repair clients with have an online portal and secure login. Any information or updates on their account will be uploaded for their convenience.
Training- immediately available to you will be our online training system. You can not only start your training right away but you can do it on your schedule. You’ll also be included in our weekly live training that you can access from your home or office.
Highlights of our Company
We offer credit repair at one of the most competitive rates in the industry.
And, we provide clients with a satisfaction guarantee.
We do not limit your geographical limitations. You can do business in any and all 50 states.
You can find and develop other individuals who wanted to also be in the credit repair business, and get paid on their business.
You can offer other services such as a Will and Trust, LifeLock, a service to help your clients pay off their bills faster, a service that showed them how to increase their credit score beyond just fixing their credit, and more.
We provide you the benefit of up to $100,000 in life insurance.
And, you could get started immediately for less than $300.
Well, if you’re serious about getting into the credit repair business this is not a hard decision.
ERA Credit Services can provide you with the opportunity to be in the credit repair business, get everything listed above, and do it for less than $300 out of pocket start up costs. You can literally start today and begin earning money by the end of the day. On top of everything listed above we 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?
Watch This Video to Learn
How to Start a Credit Repair Business for Less Than $300
Did You Like What You Saw in the Video?
If so, then click below to ‘Book a Phone Appointment’
This post was originally published in June of 2013 and has been updated for freshness, accuracy and comprehensiveness.
ERA Credit Services and/or it’s partners, Agents or affiliates make no guarantees to the level of financial success our Independent Credit Repair Agents can achieve. Earning substantial income with this opportunity requires hard work, leadership and dedication and some Agents may make no money at all. All income you receive with will depend upon your individual effort and ability. To see our full income disclosure visit Income Disclosure
ERA Credit Services is an Independent Agency representing a 501(c)(3) non-profit organization and does not directly provide credit repair services or accept funds from clients for credit repair services.
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. “Please know that I do not distribute my subscriber’s information”. – Dale Guiducci
One of the ways to get into the credit repair industry is to purchase a credit repair franchise. By buying a franchise it gets you marketing and selling much quicker. You don’t have to wade through the legal and technology minutia on your own. Your business should be pretty much ready to go. You just need to go find clients.
What we offer is not technically a credit repair franchise. But it’s much like a credit repair franchise without the restrictions. We call it an Agency. The infrastructure of technology, service delivery, marketing materials (including websites, videos, landing pages), and client tracking is all provided. You’ll have an expert staff that pulls and analyzes credit reports and drafts dispute letters for your clients.
Our credit repair agency offers everything a franchise does with 5 major advantages
Other Services in Addition to Credit Repair
Credit repair is a much needed service without question. But you must understand two facts about credit repair. One, it’s not the only thing that can be done for someone to increase their credit score. Two, if credit repair is all that you sell, your clients go into it with the idea of getting out as quickly as possible. Your residual income isn’t “sticky”. You’re just replacing clients instead of adding to them. We provide other services to help the client with their credit as well as their whole financial picture. We also have services that people want long term. Your retention of clients therefore is much higher. And, we provide all these services for the same price as other companies charge for credit repair alone.
Training from Successful Credit Repair Agency Owners
Training is a cornerstone of our credit repair Agency program. But the key is that you get trained by highly successful Agency owners. These are entrepreneurs that generate revenues in excess of $1 million a year in the business that you want to learn. How brilliant is that?
You Have an Unlimited Territory (US)
You not restricted to a city or county as you would be as a credit repair franchise owner. With our Agency you can do business in any U.S. state or territory. All the bonding and legalities have been satisfied. This is HUGE even if you’re thinking that there’s enough business in your local market. Which there is. But once you understand this industry you’ll be thankful for the ability to do business anywhere.
Grow Your Credit Repair Business Exponentially (or Not)
You have the choice to introduce this business opportunity to others. When you do so you earn bonuses and overrides on those credit repair Agencies. Would you like to expand your business to other metro markets and states? You can! But you don’t have to. If you simply want to sell the services yourself and not expand, that’s ok too. It’s your choice.
Low Start Up Cost
The least expensive start up costs for a credit repair franchise that we could find is $9,500. However, you can get started with everything you get with a franchise and all the other advantages for just $288.00!
If this business model sounds appealing visit our site and watch a couple of videos that will give you details.
After watching the videos you can schedule a phone appointment to speak with Dale or Shirley Guiducci, two of the top people in the credit repair industry. They will discuss your goals, answer questions, and give you their insight of many successful years in the business.