Tag Archives: starting a credit repair business

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Credit Repair Business Owners" />

The 7 Habits of Highly Effective
Credit Repair Business Owners

The credit repair business is a great home based business option. You can help a lot of people and it can be very lucrative.

However, the business failure rate is extremely high if you don’t have the right business model or operate your business in the right way.

Learn the habits that successful credit repair business owners have in common and avoid the mistakes many make.

7 habits highly effective credit repair business owners

Extract – The 7 Habits of Highly Effective
Credit Repair Business Owners

Credit Repair is a great choice as a part-time or full-time business. You help people improve their lives while having the opportunity to change your own. However, there is much to learn about starting and running a credit repair business. In the 7 Habits of Highly Effective Credit Repair Business Owners I give you 7 key elements from my experience as a highly successful credit repair business owner. I believe this is the most honest and candid information about the credit repair business that you will find. I hope you find it valuable as you do your research into this dynamic and potentially lucrative industry.

The Ultimate Goal – Interdependence

The late Stephen Covey published ‘The 7 Habits of Highly Effective People’ in 1989. It has now sold over 25 million copies in 40 languages around the world. He outlines 7 specific habits that we should develop to move us through stages from Dependence to Independence and finally to Interdependence.

Interdependence, the ultimate goal is “the paradigm under which we cooperate to achieve something that cannot be achieved independently.” Read this sentence again. It is a theme discussed in different ways by nearly every author of business building and personal development information from Napoleon Hill to John Maxwell. Robert Kiyosaki maintains that in order to reach financial independence we must develop systems and networks. By developing systems and networks we become ‘interdependent’ and thus can rely on others to help us produce far more than we can on our own.

To test this theory, try and think of just one highly successful individual that did it all on their own. My first inclination is to think of professional athletes. They surely were alone in achieving their success, weren’t they? In sports you perform as an individual even if part of a team. Yet in virtually every Hall of Fame speech the athlete runs out of time giving thanks and credit to dozens of people that impacted their career. And without whom they wouldn’t be standing at that podium on that day.

The 7 Habits of Highly Successful Credit Repair Business Owners

The 7 habits listed below are separate concepts and each will help you build your credit repair business. But combined they will help you go from Independence to the ultimate goal of Interdependence. They will help you achieve much of what Covey, Hill, Kiyosaki and many others have been trying to teach us for decades.

In ‘The 7 Habits’ Covey lists the 1st habit as ‘Be Proactive’. I’m going to assume you are already being proactive because you are taking the time to read this. You want to discover the missing keys to your success in credit repair. Therefore, I’m going to take his 2nd habit, ‘Begin with the End in Mind’ and make it our 1st habit.

To read the entire 7 Habits download it now…

After reading the 7 Habits of Highly Effective Credit Repair Business Owners if you want to discover a highly effective credit repair business model and then speak directly with Dale Guiducci visit
Credit Repair Business Opportunity

Credit Repair Business – The Reality

It’s a Great Business But…

The changes in the American economy over the last 2 decades have created a huge market of consumers in need of help with their credit report and increasing their credit score. As a result, many people have decided to look into starting a credit repair business.

But just like any other business there are challenges. 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. Bonds will run you between $1,000 and $10,000 every 2 years depending on the surety amount and your credit score. Yes, credit score affects just about everything.

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 that charge $90 to $125/month for a very effective service. You’ll have to compete with that when starting a credit repair business.

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 $300.00.

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. 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 Sets

If you’re doing it alone 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. Can you pull credit reports (credit report brokers don’t want to supply credit repair companies) and analyze those reports. Do you know how to advise the client as to the probability of removing all types of items (foreclosures, liens, charge offs, medical bills, 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. Credit repair business owners can’t find time to develop new customers because they are 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.

All the state laws and requirements are met. You can do business in ALL 50 states right away.

There is a low initial investment of less than $300.00.

This system provides the latest technology for you to offer customers.

There is an online training platform and one-on-one credit repair business coaching.

You utilize a staff to do the credit repair admin work. This allows you the time to market and sell to customers.

In addition, you’ll provide the best, fastest, and most effective credit repair service in the industry.

But the best component to this solution is that you can develop other people that want to build a credit repair business. They are part of your business and you earn income from their production.

It is without question the best opportunity for anyone that desires to start a credit repair business.

For more information watch a Detailed Video & Book an Appointment to speak with us

start a credit repair business

This post was originally published in March of 2014 and has been updated for freshness, accuracy and comprehensiveness.

Credit Repair Business – The Reality
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

Start a Credit Repair Business
for Under $300

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 businessstart 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

Training on Credit Repair Law such as the Fair Credit Reporting Act and the Credit Repair Organizations Act, sales training, and business training that can be done online and in person.

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.

CreditCRM

According to Franchise Gator,  CreditCRM has a start up of $15,000.

Credit Dispute Pro

Franchise Clique lists Credit Dispute Pro at a start up of $9,500.

Credit Repair USA

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’ve been in the credit repair business since 2004, have an A+ rating and are accredited by the Better Business Bureau and our credit repair division is accredited by the National Association of Credit Services Organizations.

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.
<img class="blog_post_image" src="https://eracreditservices.com/wp-content/uploads/2013/06/Start-a-Credit-Repair-Business-e1544346822128.png" alt="Start a Credit Repair Business
for Under $300" />
<img class="blog_post_image" src="https://eracreditservices.com/wp-content/uploads/2016/04/start-credit-repair-business-625x415.jpg" alt="Start a Credit Repair Business
for Around $300" />

Start a Credit Repair Business
for Around $300

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.

You’ll of course need to find training on credit repair law such as the Fair Credit Reporting Act and the Credit Repair Organizations Act, sales training, and training on building a business that can be done online and in person. Here’s list of states that require Surety Bonds

What Credit Repair Companies Provide Everything?

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?

start credit repair business

This was originally published in April of 2016 and has been updated for accuracy.

Starting a Credit Repair Business
It’s Not That Easy

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.

Starting a Credit Repair Business

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

#2There’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.

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Credit Repair Business Model – The Right One for You

Credit Repair Business Model – The Right One for You

When considering starting a credit repair business there are many questions you need to ask and get answered. It’s very important to choose the right credit repair business model to satisfy your needs, goals and perhaps even limitations. I mention limitations because few of us come into a new business totally prepared with every skill set and requirement necessary. In most cases, only after we are in a business do we realize certain elements that are required that we didn’t beforehand.

Download Our Free Questionnaire to Find Out Which is the Right Credit Repair Business Model for You

credit repair business model questionnaire

Click Here to Download-  Choose the Right Credit Repair Business Model for You – Questionnaire

There are actually 3 different business model types in the credit repair industry. Here are some questions you need to consider before choosing the right one.

What Are Your Goals?

a) Income (initially and long term)
b) Time (time to recuperate investment and hours a week to devote to the business)

What Is Your Skill Set & What Do You Like To Do?

a) Sales & Marketing
b) Administrative

How Much Can You Invest?

a) Start up costs
b) Marketing
c) Staff

Which Credit Repair Business Model Should You Choose?

Here are those credit repair business model types, what is required, and some of the advantages and disadvantages of each. Choosing the right one for you depends on your goals, your skills, your time, and the money you have to invest.

Starting Your Own Business

1) Federal & state laws and regulations
2) Software
3) Website
4) Training
5) Office (home or other)
6) Marketing
7) Competition
8) Sales skills
9) Admin skills
10) Limited income unless you want to expand & hire staff

Conclusion- You must have a substantial amount of time & money to invest. You must also enjoy admin work, as well as understand that your customer base will be limited unless you hire staff.

Buying a Franchise

1) Significant investment $12,000 to $20,000
2) Still need to be concerned with Federal & State laws and regulations
3) Website, training, administrative should all be provided
4) Competition
5) Marketing skills
6) Sales skills
7) Limited income unless you hire sales staff

Conclusion- You must have a substantial amount of time & money to invest. And the franchisor must train you on how to market and sell against the competition

Owning an Independent Agency

1) Low start up cost- less than $300
2) The parent company has satisfied all state & federal requirements
3) Website, marketing materials, training, administrative are all provided
4) Training includes Sales & Marketing
5) The ability to add multiple Agencies provides unlimited income potential along with a residual income component
6) No staff needed

Conclusion- This is the lowest risk option providing potentially the highest reward. It also provides the ability to start making sales and earning income quicker.

For Detailed Information on the topic of Credit Repair Business Model Watch This Video

For more on our Independent Agency business model visit www.eracreditservices.com/credit-repair-business-opportunity