Are you looking at Credit Repair Business Opportunity options?
Over 70 million americans have bad credit, and are willing to pay to fix it.
As our economy weakens and rebounds, even more Americans will default on their obligations, creating millions more potential clients each year.
Fortunately, the credit repair business opportunity arena is still a fairly open field, considering the profit potential. The average credit repair service buyer spends $800 to $1200, with complex files reaching over $2,000. A skilled team with marketing in place can handle over 100 files per month, with an average phone representative handling about 40 files. If you invest the time to put communication on autopilot, using autoresponders, online video, and automated postcards, you should be able to increase this.
The perfect credit repair business opportunity includes everything you need to start a credit repair business: software to generate the letters and forms needed, a CRM (Client Relationship Management) software package to manage thousands of clients in various stages of processing, video training to allow you to quickly train call-center level employees to become credit repair representatives, a website along with internet marketing systems and automated email followup in your name, and some marketing for your credit repair business opportunity.
Beyond that, here are a few secrets some of our members have used to build $100,000+ per month businesses.
1. Use Radio. It’s effective, predictable, and is a great medium to reach the prime demographic for credit repair, which are late 20’s through mid 40’s people. Cost per conversion (actual sale) is often around $185 to $215, so with an average gross profit of $800+, even on small files there’s a substantial opportunity.
2. Direct mail works predictably provided you buy targeted data from the credit bureaus. That said, you’ll need another reason to reach them, because frankly the credit bureaus profit from helping creditors, not credit repair companies. A good postcard campaign will reliably produce a 2% to 3% incoming lead ratio.
3. Your relationships will be paramount. For anyone in real estate, finance, or insurance, the credit repair business opportunity is a perfect fit. Your credit repair business opportunity will allow you to produce more profit from your existing database, and help you “fish upstream” if you sell larger products requiring good credit such as homes or cars or financial services. If you are not in one of those businesses, carefully cultivate referral relationships with financial planners, bankruptcy attorneys, mortgage bankers and brokers, realtors, and other professionals in a position to refer business to your credit repair opportunity.
4. Internet marketing is profitable but extremely competitive. Venture into it only if you are committed and have a good team. Frankly, there are plenty of people who will tell you to spend a few hundred on pay-per-click and you’ll get rich. This is rarely true. There is no shortage of people ready to take your money and sell you a solution – just be sure you have a team you can trust, and expect to spend a few thousand just getting started online. That said, the stakes are high and profit is there.
5. Use referral marketing actively. The best way to work this system is a concrete, scheduled repeatable system of handwritten notes, holiday cards, company newsletter, and company parties including your referral partners.
Last, be sure to check the local laws regarding your credit repair business opportunity. Some states have regulations over licensing and disclosure.