Credit Repair Business Plan

Here is the executive summary of a credit repair business plan:

• a description of your business, including your products and/or services
• your mission statement
• the management of your business
• the market and your customer
• marketing and sales
• your competition
• your business operations
• projections and financial plans

Any business plan must therefore speak of management, which refers to your experience. If you have experience managing a team, attention to detail and/or financial experience, this is relevant and should be included.

In writing about your customer, the consumer, you will find that there are about 70 to 80 million Americans with bad credit, many millions of whom will need to finance a home or car or other purchase and therefore will be interested in buy credit repair services. . While some people try to repair their credit on their own, credit is becoming more complex and important. Few people succeed or try, and just like dealing with plumbing or car repairs, most are willing to pay a professional to get it done right.

Next, you need to include a specific marketing breakdown. We’ve found that early on, referral relationships are a great place to start. By offering “credit repair seminars” or “lunch and learn” events to local real estate agents or car dealers, you can quickly position yourself as an expert, develop referral sources, and help them sell more homes or cars. As your business grows, you’ll want to branch out into mass media, internet marketing to increase your visibility and scale your operations.

The next section will generally cover the competition, which of course varies by market. Today, the credit repair business is still open and largely based on point-of-need referrals, which means people often get their credit back when they get ready to buy a home or car, or afterward. of being turned down for some type of financing (ie, a credit card on better terms than they currently have). In the longer term, the Internet is a massive source of business that still has substantial opportunities. A still largely untapped area that needs someone to execute your credit repair business plan is the area of ​​social marketing (i.e. Facebook) and joint ventures with point-of-need media i.e. a referral relationship with major real estate websites, car dealership websites. , etc . that depends on attractive financing.

Next, your plan must cover the operations. You can run a home based credit repair business, or you can use office space. An underutilized idea is to rent a desk inside a busy real estate office. This may provide more than just a professional meeting place, but the proximity of agents who depend on their clients having good financing will virtually guarantee that some clients will be delivered to you. This can also help integrate your credit repair business into the local ecosystem of potential referral businesses, such as mortgages, insurance, and financial professionals. Most real estate offices would be willing to rent a desk or office on or near the premises. Another option for your credit repair business plan is to run a credit repair business from home, but have set hours at local real estate offices or car dealerships to review any new files and answer questions they may have. agents or dealers.

The projections and financial plans in your credit repair business plan should address start-up costs and revenue, and possibly even exit, such as the sale of the business. Since there are systems that provide more than just software, but complete turnkey systems (similar to a franchise) that include training to make you an expert, unlimited paralegal support, annual conferences, marketing support, legal support, and much more, you should research your options.

Obviously, success varies by talent, work, resources, and skills with any business opportunity. That said, we know of affiliates who have taken their credit repair business plan and executed that plan, earning over $100,000 per month. If you like the idea of ​​being your own boss and earning an executive-level income, we encourage you to consider your business plan as the first step in an exciting new adventure.