Credit Repair Service Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Credit Repair Service Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Credit Repair Service business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
Your Business Planning Package will be immediately emailed to you after you make your purchase.
Product Specifications (please see images below):
- Bank/Investor Ready!
- Complete Industry Research
- 3 Year Excel Financial Model
- Business Plan (26 to 30 pages)
- Loan Amortization and ROI Tools
- Three SWOT Analysis Templates
- Easy to Use Instructions
- All Documents Delivered in Word, Excel, and PDF Format
- Meets SBA Requirements
The demand for credit repair services has skyrocketed over the past 15 years. This has been especially true since the end of the great economic recession that lasted from 2008 until 2011. During this time, many people ran into substantial issues relating to mortgages, credit cards, auto loans, and releases that they couldn’t afford. As such, many of these people incurred substantial issues as it pertains to their credit reports for not properly pay these debts. Credit repair services can be highly businesses in any economic climate. Even in times of economic prosperity, there are going to be people who do not have good credit scores and are going to want to improve them in order to qualify for credit later on. As such, these businesses can be a great investment given that they generally have low barriers to entry and modest start costs. Many credit repair services can be started from home for as little as $5,000. Individuals that are looking to develop credit repair services on a larger scale immediately, can expect that these costs will range anywhere from $20,000-$100,000 pending on how much cash the entrepreneur wants to have on hand.
Much like any other business plan, a document that is specific for a credit repair service should have a three year profit and loss statement, cash analysis, balance sheet, breakeven analysis, and business ratios page. Thanks and financial institutions generally do not like to place money with new credit repair services given that not many tangible assets are being purchased. As such, if you are looking for capital to start this type of business you may need to sell finance it at first or work with a private investor to get funding that you need. Once established for two years, many banks and financial situations may be more open providing you with a line of credit back at that is based on your monthly receivables.
It is absolutely imperative to develop a well formulated credit repair service marketing plan. This is a highly competitive industry, and as such, a new credit repair service must be able to attract potential customers. One of the ways that most people find credit repair services these days is online. As such, it is very important to have an expensive online presence in order to make sure that people can easily find your business. This is going to be one of the most common marketing trends required moving forward.
A credit repair service SWOT analysis is a must for any entrepreneur thinking getting into this industry. For strengths, a credit repair service is able to generate highly predictable streams of revenue from ongoing repair services also generating recurring revenue through things such as ongoing credit monitoring. A weakness for this business is that there are very low barriers to entry and as such the competition within this market is substantial. As it relates to opportunities, many credit repair services have begun to offer complementary products such as credit monitoring that can substantially boost the monthly revenues of the business. For threats, there are ongoing changes regarding how credit is reported among the three major credit bureaus. As such, it is important that any entrepreneur that owns and operates a credit repair service understands the ongoing changes within the industry on a regular basis.
In closing, a credit repair service can be easy to start business provided that an individual has the proper understanding of how to assist individual with their credit issues. Additionally, it is important to note that a substantial amount of cash should be on hand in order to finance the early start up costs of these businesses as, again, banks and lenders typically do not provide funding for these types of financial businesses.