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Credit Repair Business Plan

Credit Repair Business Plan

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 into 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 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 is 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. You can 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. You can 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 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 set up 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.

Watch This Video

If You’re Interest is Piqued Now Just Book a Phone Appointment With Us

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
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Want to Start a Credit Repair Business or Create a Job For Yourself?

Over the past 5 years I’ve had over 2,000 people contact me because they want to start a credit repair business. I admire them. They want to strike out on their own and build something for themselves. However, most of these people are initially misguided.

Doing It All Yourself

Typically they see themselves doing the credit repair work. You know sitting behind a desk, analyzing credit reports, and drafting dispute letters. What they don’t realize is that there is less value in doing the admin work than getting the customers. That’s reflected in the hourly wage a credit repair company will pay for that type of work which is about $10-$15 an hour. The value is in getting customers.

However, you can’t both get customers and do the admin work effectively. There just isn’t enough time in the day. If you have no customers, you have no work. If you have lots of customers where are you going to find the time to deliver the service? If someone truly wants to draft dispute letters they should never start a credit repair business. Just go work for a credit repair company. It’s a lot less stress, you don’t have to do everything else, and it doesn’t cost you anything.

Let’s say someone ignores this advice and they still want to start a credit repair business. They feel they can do both, get customers and do the admin work. They may even hire employees to do the admin work so they can do the marketing and selling. Or, they hire someone to do the marketing and selling so they can sit behind a desk and analyze reports and draft dispute letters.

Do You Want to Own a Credit Repair Business or Have the Business Own You?

Here are some million dollar questions. What happens if you can’t work? What happens when you want to take time off? Who’s going to take calls from customers after 5 pm and on weekends? Who’s going to get the work done when your employee is sick or has to take time off themselves?

What someone has built in this scenario is a business that owns them. They have no more leverage than when they worked at a job. They have even less leverage because they can’t walk away from their obligation to their customers.

Trust me on this. My wife and I were in this situation ion 2012. It’s overwhelming and seems like there’s no way out. If we stop we lose our income. If we keep going we’re unhappy, stressed and overworked.

The Best Solution if You Want to Start a Credit Repair Business

What’s the solution if you truly want to start a credit repair business? Build something for yourself but not by yourself. Create an expandable business that can operate without you. Become a true entrepreneur.

In order to do that you needs two things. One is a system. You could call it an infrastructure. Websites, other technology, customer service, service delivery, legal team, marketing materials, employee training, etc. You can build this yourself with a ton of money, time and management headaches. Or you can leverage what someone else has already done. I like the second option. Then you need a distribution network. You’ve got to have other people exposing your business, selling to customers, and finding other people to expose your business.

In other words, why reinvent the wheel? Someone’s already done that. Use their wheel. They may take some of your profit as compensation for having built this infrastructure. But it takes millions of dollars to build a top notch, professional, reliable, and completely legal infrastructure. Do you have millions of dollars?

And, instead of hiring employees why not show others what you did, let them start their own business too, and get paid on what they produce? You have no overhead, employees, or liabilities!

In this scenario you’ll still need to work the business yourself for some time. Maybe 5 years, 7 years, 10 years.  But along the way you’ll develop a business that operates without you for a period of time. And an income stream that keeps paying you even when you take time off, are sick, etc. Eventually you will be able to walk away entirely and get paid the kind of income entrepreneurs get paid.

Credit Repair Business Start up Costs

If you’ve researched how to start a credit repair business you might think what I’m describing is expensive, takes too much time, and that you don’t know how to do it.

The truth is that if you have $288.00 you can do this.

If you have between 10-15 hours a week or more, you can do this.

If you are willing to get trained online, join a Facebook Group, and attend a FB Live each week, you can do this.

How do I know all this? My wife and I did it. Our business will generate nearly $1 million in revenue this year. And, we do it all from home without ANY employees. In fact, we now train other people who want to start a credit repair business. They want a true business that they own. Not a business that owns them.

We can help you too if that’s what you truly want, are open to new concepts, have some money to invest , have some time, and are willing to learn.

want to start a credit repair business

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Want to Start a Credit Repair Business or Create a Job For Yourself?
The Best Credit Repair Software

The Best Credit Repair Software

Often times people call me and ask what credit repair software we use or what we would recommend. Of course, they are making that call because they have done some research on what they need to start a credit repair business. Based on what they read on the internet, they feel they need the best credit repair software package.

They have also seen on our website that we are a major player in the credit repair market. We have a long and successful track record having helped well over 250,000 people since 2004. So, we should know the best credit repair software, right?

The Problem with Credit Repair Software

But here’s the problem. If someone is going to try and do all the administrative work of repairing credit, despite the software they are using, they are already making a costly miscalculation on what it’s going to take to be successful in this industry.

Credit repair software companies like Credit Repair Cloud, Credit-Aid, Dispute Suite, CreditUmbrella and many others would have you believe that all you need is the right software and you can have a phenomenally successful business. That’s because they are not in the credit repair business. They don’t do credit repair. They have no idea what it is to be in the trenches building a credit repair business.

The value in the credit repair business is not credit repair software. It is marketing and sales. You have to first develop a strong and ever producing pipeline of credit repair customers. How do you do that? We teach our Credit Repair Agency owners exactly how to do that.

Then you have to know how to stack up what you do against everyone else in the credit repair business. Why would someone work with you and become your customer? How are you different? It can’t be your track record because you just got started. It can’t be your method because if you bought credit repair software you’re just like hundreds of others. What we do is very different and far more effective.

Marketing and Sales Brings the Real Value as a Credit Repair Business Owner

But here’s the real key. If you’re analyzing credit reports and drafting dispute letters (using software or not), a function that is worth only about $15/hour, then who’s out there getting the sales and selling to the customers? The marketing and sales is the real value in the credit repair business. Whoever gets the most credit repair customers wins!

We have a staff of people that do all the credit repair admin work for our Credit Repair Agency owners. So they can concentrate on building their business, getting credit repair customers, and being an effective credit repair salesperson.

We have people coming into the credit repair business with no experience (and making no investment in credit repair software) that in their second year are generating over $1,000,000 in sales revenue. And, they are not doing any of the credit repair admin work.

Explore Your Options Before Buying Credit Repair Software

If you would like to understand our business model, and get started as an Agency owner in the credit repair business for less than $300, then click the link below. Watch the 2 videos on that page. Those videos will share with you how our business model stacks up against others. And, more importantly, will show you our track record, the services we offer (credit repair is just one way to increase a client’s credit score), the website and marketing materials that are prepared for you, the tracking system we provide, the compensation (second to none), and our incredible training program that teaches you how to build a successful credit repair business.

Click here NOW- Start a Credit Repair Business for less than $300

Then schedule an appointment to speak with us right on our website.

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Build a Credit Repair Business From Home

Using technology, tools, and training it is possible to build a credit repair business from home. Even a credit repair business that has clients all over the country.

You can start that business without having to build all the technology, websites, marketing materials, payment processing, government compliance, and everything else you’ll need. You can do it for less than $500. And, get trained by people that have become immensely successful at it.

How and why that is that possible? Because there’s a company that has built the entire infrastructure you need for your credit repair business from home. This isn’t a new company or a start-up. This company has been doing this since 2004. They have an A+ rating with the Better Business Bureau. The company is certified by the National Association of Credit Services Organizations (NACSO).

Through their independent Agents around the U.S., this company has helped over 250,000 consumers remove over 1,000,000 derogatory items from their credit reports with Experian, Equifax and Transunicredit repair business from homeon.

This company is Financial Education Services (FES)

Think about it. It would take tens of thousands of dollars and years to build what FES can provide you from day one. Plus you can offer all the services to clients that FES has developed. They don’t have just credit repair. They have a suite of services to help customers increase, monitor and protect their credit score. You can also provide services that save your clients money, such as a Will & Living Trust.

Build a credit repair business from home for yourself, but not by yourself

What about building your business so that it can produce more customers than what you can do by yourself? FES gives you the opportunity to build a sales team. What if you had 5 people on your sales team? Couldn’t you have more customers and help more people? Wouldn’t you be able to build a bigger credit repair business from home? Couldn’t you earn more income?

Let’s talk about income. People may think that because FES provides all this, the Agent in the field can’t make as much money. It’s just the opposite. Because FES delivers the services to the client, the FES Agent can spend their time finding more customers. And, they spend virtually no time with paperwork.

For every customer, an Agent earns a $100 immediate commission and $12/month on a residual basis. There are also Customer Acquisition Bonuses that range from $100 to $550. And FES has a very unique benefits package called the R&R Club.

When an Agent hits a specific number of customers, they become an R&R Club member. FES then starts paying them $600 to drive a brand new Audi of their choice. When the Agent does more production they receive cash bonuses. Then even a house payment of up to $5,000 a month.

How much would you like to earn in a credit repair business from home?

Is $1,000 a week enough? $2,000, $3,000 a week or more? There are independent FES Agents all over the U.S. earning significant incomes, driving Audis and living a great life style. All from an initial investment of under $300.

If you’re truly interested in a career in credit repair, and owning a business for yourself you’ll want to speak with us.

or visit https://eracreditservices.com/credit-repair-business-opportunity/

Then give us a call
East Coast (727) 222-0120
West Coast (619) 492-3040

Dale & Shirley Guiducci
Vice Presidents
R&R Club Members
Six Figure Club Members
Outstanding Achievement
Leadership Award

 

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Build a Credit Repair Business From Home

The Reality of Starting a Credit Repair Business

The devastation of the financial and real estate markets over the better part of the last decade has created a huge market of consumers in need of help with their credit report and increasing their credit score. As a result, many have decided to look into starting a credit repair business.

starting a credit repair business

But just like any other business, if you have never attempted starting a credit repair business before there is a lot of information to gather and knowledge necessary to do it the right way. The credit repair industry, like many others, has a high percentage of people that start the business and quit within the first year. Why is that? And how do you avoid being one of those people? This article will cover the points you need to consider.

Laws and Licensing

There are no licenses you need to have to be in the credit repair business. However, you do have a few laws you must consider. And, these laws may be different in each state. The Credit Restoration Organizations Act (CROA), a federal law, states that a for profit company cannot charge fees before performing credit repair work for a consumer. Although many have come up with creative ways to deal with this law it will affect cash flow for a new business owner. However, attorneys, banks, credit unions and 501(c)3 non-profit companies may charge upfront fees. They are exempt from CROA.

In addition, certain states require surety bonds up to $100,000. You can purchase these bonds for far less than the surety amount but you’ll need to check with your state to make sure you have a bond if one is necessary.

Initial Investment of Starting a Credit Repair Business

There are typically two ways to go with starting a credit repair business. The first is to purchase all the necessary components such as software, a web site, legal documents, training, etc. separately. We’ve estimated this cost to be about $10,000 in the first year although these items can be purchased on a monthly basis. The other way to go is to purchase a franchise. The investment in a credit repair franchise is between $19,000 and $25,000. Don’t be discouraged if you do not have $10,000. We will give you a third alternative below that has a start up cost of less than $500.00.

Fees for Service

In addition to deciding how you are going to charge for your credit repair services (if you cannot charge upfront how are you going to charge?) you must also decide how much to charge. Gone are the days when you can charge $1,500 to $5,000 for credit repair services. There are established, reputable companies out there that charge less than $500.00 for a very effective service. You’ll have to compete with that when starting a credit repair business.

Technology

Consumers today expect that a company will have technology in place to allow them to stay in touch and keep track of what’s happening with the progress of their credit repair process. And, there are companies out there that have obliged. You must provide your customers with the ability to check the status of their account online to be competitive in this industry. Doing this as solopreneur may be an expensive and daunting task.

Skill Set

In order to be effective in this business you have to be good at three things, marketing, sales and administration. You have to be a good marketer. Selling your credit repair service to friends and family may get you started but you must position yourself as a credit repair expert in your area. You have to get the word out in the community by developing relations with other business professionals that may have clients that need your service. You must have an online presence as well. Not just a website but the ability to drive traffic to your web site. You need to have leads coming to you every day.

Then you have to be great at sales especially when you’re new because you have no track record or credibility to fall back on. You have to sell against local and national companies that your prospective customer is going to contact as well. Even if your company has the same credentials and advantages as other companies how good are you at selling and closing sales?

Lastly, you have to be good at credit repair. You have to have the ability to pull credit reports (more below) and analyze those reports. You have to know how to advise the client as to the probability of removing all types of items (bankruptcies, short sales, foreclosures, liens, charge offs, medical bills, student loans, repossessions, late payments and more). You then have to know the correct dispute codes and reasons that a credit bureau will open a dispute about these items. Then you have to track this information and be prepared to challenge each item multiple times for a client. This is no easy set of tasks.

Time

You have to have time to do all that is stated above when starting a credit repair business. Many credit repair business owners get caught without enough time to develop new customer pipelines because they are busy doing the credit repair work for their existing customers. Or, they can’t find the time to service the customer because they are trying to develop new customers.

The Solution

Everything stated above comes from experience. It seems daunting, and if done on your own it is. However, we have developed a system for new credit repair business owners that addresses and overcomes everything we have discussed here. It is a system that has taken care of the laws in all 50 states, has an initial investment of $512.00, has the latest technology for you to offer customers, provides you with training on the skill set and mind set necessary to be in this business, and allows you the time to market and sell because the administration work is handled for you. In addition, we help you provide the best, fastest, and most effective credit repair service in the industry. And, you can do business in all 50 states. And, you are provided the top training in the industry. But the best component to this solution is that you can develop other credit repair agencies and earn income from those agencies. It is without question the best opportunity for anyone that desires to start a credit repair business.

For more information visit Credit Repair Business Opportunity

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Want to Start a Credit Repair Business? Here Are Some Factors to Consider

We’ve discussed before in a previous blog post, Starting a Credit Repair Business for Under $500, that typically there are two options when starting a credit repair service. The first is to spend up to $25,000 on a credit repair franchise. The other is to piece it all together and buy all the necessary components to begin your business in the credit repair industry. starting a credit repair service

Of course, that previous blog post goes on to share how you can become an Independent Agent with our company and have the best of both worlds. You can own your own credit repair business but not have to start from scratch. Everything is provided for you for under $500.

An Important Question to Ask Beforehand

There is another important decision to make, however. Actually it’s a question you have to ask yourself. The answer to this question will dictate what direction is the best for you to follow. The question is, “why are you getting into this business?” This is a simple question with a complex and very valuable answer. Typically people get into credit repair for one of two main reasons, or both. They want to help people, and/or they want to make money.

If you want to do either or both you must then ask yourself how many people do you want to help? And, how much money do you want to make? If the answer to either of those questions is a lot, or a significant amount then here is the stark reality of this business. You can’t help a lot of people nor make a lot of money on your own.

Starting a Credit Repair Service Takes Hard Work!

In order to help a lot of people in the credit repair business you have to have the time and skills to market and sell your service, and do the administrative work on the back end once you get the clients. The time to do both is almost always under estimated by people that have no experience in this industry. On top of that you have to charge a reasonable fee. The days of charging $1,000 or more for credit restoration are over. There are too many companies out there doing it for far less. If you compete for business charging a similar fee you won’t have enough revenue coming in to make it work.

There is an answer when starting a credit repair service, and we’ve found it. By having other Independent Agents running their own credit repair business and yet getting paid a percentage on what they do while you are running your own business, you can build a large operation on a regional and even national scale. This is a concept that any successful company utilizes. Your income is not just dependent on your own efforts. It’s now derived from the efforts of many others.

In addition, these Agents that are now helping you build your business while they build their own are being trained not by you, but by our training company. In fact, they are being trained by the same people that are training you. The individuals doing the training have all established a credit repair business that is generating at minimum $50,000 in revenue per month over $250,000 a month. This certainly qualifies them to teach you and your Agents how to be successful in this business. They are helping a lot of people.

Additional Factors to Consider

There are so many other factors to consider as well when starting a credit repair service. What are the laws in your state regarding credit repair? Do you have to register with your state and purchase a bond? How are you going to generate enough revenue if you cannot charge upfront fees? By the way, did you know that you cannot charge upfront fees? By becoming an Independent Agent with our company you don’t need to worry about any of this because we have taken care of all state requirements. Our staff does all the credit repair work. Did you catch that? Our staff handles all the admin work so you have time to get more customers!

If you consider everything you should before entering the credit repair industry you’ll see that our business model is brilliant. It offers you everything you need to build a very large, or even small, credit repair business. You do not have to invest a fortune. You do not have to deal with all the regulations and laws governing the industry. And, you’ll have time to develop a steady stream of customers. You can be in business today.

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