Credit Repair Business Plan

Here’s the executive summary of a Credit Repair Business Plan:

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

For someone looking for a credit repair business plan, a simple description might be “Ace Credit restoration provides credit restoration services to help consumers attain good credit and therefore have more attractive financing options. The company provides credit repair on a fee-for-service model charging $800 to $2000 per client and reaches new clients via relationships by credit-dependent professionals (real estate, car dealers, etc.), financial professionals (tax, insurance, financal planners), consumer direct marketing (internet, radio, tv, postcards), and past-client referral cultivation.

Any business plan should then talk about 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.

When writing about your client, the consumer, you’ll find 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 will therefore be interested in purchasing credit repair services. While some people do attempt credit repair on their own, credit is becoming increasingly complex and important. Fewer people succeed or event attempt it, and like dealing with plumbing or auto repairs, most are willing to pay a professional to get it done right.

Next, you should include a specific marketing breakdown. We have found that at first, 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 up your operations.

The next section generally will cover competition, which of course varies by market. Currently, the credit repair business is still open and largely driven on referrals at time of need, meaning people often get their credit restored when preparing to buy a home or car, or after being declined for some type of financing (i.e. a credit card at better terms than they have presently). Longer term, the internet is a massive source of business that still has substantial opportunity. One still largely untapped area needing someone to execute their credit repair business plan is in the area of social marketing (i.e. Facebook) and joint ventures with point-of-need media i.e. a referral relationship with leading real estate websites, car dealer websites, etc. who depend on attractive financing.

Next, your plan should cover operations. You can run a credit repair home based business, or you can use office space. One under-used idea is renting a desk inside a busy real estate office. This can provide more than just a professional meeting place, but the proximity of agents who depend on their clients having good financing will virtually guarantee some clients are delivered to you. This can also help embed your credit repair business into the local ecosystem of potential referring businesses such as mortgage, insurance, and financial professionals. Most real estate offices would be open to renting a desk or office within or nearby the facility. Another option for your credit repair business plan is to run a home based credit repair business, but have a set schedule at local real estate offices or car dealers to review any new files and answer questions the agents or dealers might have.

Financial projections and plans in your credit repair business plan should address startup costs and revenue, and possibly even exit such as sale of the company. Since there are systems that provide more than just software, but complete turn-key systems (similar to a franchise) including training to make you the expert, unlimited paralegal support, annual conferences, marketing support, legal support, and much more you should investigate your options.

Obviously success varies by talent, work, resources and abilities with any business opportunity. That said, we know of affiliates who have taken their credit repair business plan and executed on that plan, grossing 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 take look at your business plan as just the first step an an exciting new venture.

Job? Why I Chose A Home Based Business

For years, people have asked me why I don’t get a “regular job”.

They seem to struggle with the idea that I don’t have a 9 to 5 job and they just can’t figure out why I don’t like getting up early, complaining about Monday mornings, “working for the weekend”, etc…

I could go on and on about how much I love the freedom, the option to set my own hours, the possibility of creating an incredible amount of income, and they would all be really good points.

I really do enjoy sleeping when I get sleepy, getting out of bed when I feel like getting out of bed, traveling when and where I like, and knowing that my income is happening around the clock and around the world.

And I’ve definitely got some big goals. Yes, some of them are related to the type of cars I would like to drive, the homes I would like to live in, the experiences I want to have, and all that fun stuff. Why not?

But let’s break this down to just some good old fashioned “real world” thinking.

If you give any serious thought to what is happening to the economy, the job situation, and what life is starting to look like for people from just about every walk of life, I personally believe that it makes sense for you to be honest with yourself. If you really do the math, I think you will gain a much better understanding of why I started my home based business.

These days, if you have a job at all, you are considered “lucky” by those who are unemployed. But let’s take a serious look at what a typical job scenario is like for most people. We’ll make a few assumptions, such as:

You’re working a job that pays you $15 an hour.

You’re working 50 hours per week.

You’re getting paid for 52 weeks out of the year.

This gives you a gross annual income of $39,000.

With some standard assumptions about taxes which include you being a single person with no children, your tax bill is going to be about $4,000, making your Taxable Income $35,000.

This means you get $35,000 deposited in to your bank account each year and you trade 2,600 hours of your life every year to get that money. That, alone, is a rather sobering thought in my opinion, but let’s keep going.

We need to make a few more assumptions about what it takes to live the life you are in. Your numbers may be more or less than these:

Expenses:

Monthly Rent/Mortgage $1,000

Utilities: $300

Car Note: $300

Car Insurance: $100

Fuel: $200

Groceries: $600

Monthly Totals: $2,500

Annual Totals: $30,000

These numbers do not take in to account anything beyond the very BASIC living expenses! You are literally trading 50 hours of your life every week and chances are, you have more month left over at the end of your money. You’re not alone. If you are paying off a student loan, paying for credit card bills, have a car repair, unexpected emergency, health insurance, doctor visits, clothing expenses, etc… you can see how this gets way out of hand very quickly!

When this sort of math settled in on me while being married and raising FIVE kids, I realized that I needed to do something else and I needed to get started FAST!

So What Did I Do?

I started learning about home based business and discovering how I could leverage my then limited time and financial resources to change my financial picture. For me, it has been one of the best decisions of my life. I’ve been successfully unemployed for more than 14 years. I’ve been able to be present with my family, coaching basketball with my kids, traveling with my family, and actually BEING a husband and father.

I don’t look back on my life and wish I had spent more time with my kids because I was THERE with them throughout their lives. To this day, we are still very close even though they are all grown up, moved out, and pursuing their own life goals. (They all understand and are working on their own home based businesses, too!)

Not everybody starts a home based business to “get rich”. Some folks just want to create some additional income. Some folks just want to set up a “Plan B” in case their job falls through. Others just want to supplement their income or pay off some bills and yes… some of us want to create a life we are really excited about and can afford to live on our terms.

If you see this math and you believe that it makes sense to stay on that same path, then you need to understand that things are going to get tougher. But if you believe that a home based business may be a good option for you, then I encourage you to start your research. Find someone that is successfully building their home based business and ask them to show you how

If you saw the move, “The Pursuit of Happyness”, t hen you may recall that Chris Gardner’s life was changed by asking two questions of a very successful broker:

1. What do you do?

2. How do you do it?

Be willing to ask the questions and then learn the skills.

A home based business may very well be the solution you need.

Small Business Income in 2 Simple Steps

Creating a small business income seems daunting, but escaping the J.O.B. world is easier than you might think. With just two simple steps, you can begin generating wealth from the comfort of your home office.

First, you need to find a niche. What do you know a lot about? Is it cooking? Car repair? Home business building? Whatever you know a ton about, you can make money in. Don’t worry if you can’t yet figure out how to make money from your knowledge; minimization methods will come later. It is just crucial that you identify what you know most about in order to build a small business income.

See, you need to look around the niche that you feel attracted to. Let’s take car repair for example. Suppose you look around the internet and see other small businesses generating income from their car repair knowledge. Perhaps they are charging to give step by step repair instructions over the phone. Some others may simply have a car repair blog with Google AdSense banners. Simply look around the world of your niche.

Second, you need to identify what is missing. Look again, this time more closely, at the existing small business models on the internet. What are they missing? Are they too specific? In our example, perhaps some websites only give repair guides for foreign cars or only Ford trucks, but perhaps there is no repair guide for tractor trailers. Well, there are a lot of tractor trailer owners who own a cab and accept freelance jobs. Maybe this group of people needs help repairing their own tractor trailer cabs.

So, it is crucial to identify the missing space in the market. Remember, building a small business income is not necessarily about providing secret knowledge to the world that nobody else knows about. It is simply about appealing to prospective customers in a new and unique way. If you can do that, and only that, you will make a fortune.

Be sure to click the link below where I reveal my seven step process for generating leads, building relationships, and maintaining longevity in any small business.

How to Run an Auto Mechanic Business From Home

It is very easy to earn money especially for those that have the skills and knowledge. One basic skill that can make you become productive than you are now is the skill and knowledge about machines and automobiles. If you are skillful, have the training and knowledge for these things, then you might want to start learning about how to start your own small business from home that offers auto mechanic services.

With the increase in the demand for cars these days, it is no wonder why there are also lots of auto mechanic shops that have also become in demand. Since most people own cars nowadays, more auto mechanic services are also needed. This should be the perfect motivation for you to start your own auto mechanic shop.

A little knowledge about how to run a business from home that offers this type of service can really get you a long way. Besides the increase in the demand for this type of service, most people prefer home based businesses these days because they charge lesser fees and schedules are more flexible.

Starting an auto mechanic shop business from home is ideal for those that have the skills. It is better if you already have a degree in auto machinery or something like that. It will also be best if you have experience from previous jobs that you had. Besides being able to learn how to start your own small business from home, you must also be able to provide your clients the best service. This means that you must know what you are doing.

Another important thing to know is that this is a legitimate work from home business idea . You won't have to deal with a lot of legalities in starting and running this business. It will be better of you are a licensed auto mechanic but most clients won't really go into those kinds of detail.

You will just need to secure a business permit to operate since you will be setting up a shop at home and in a residential area. You can always ask your local authorities for any additional information that you are not sure about how to run a business from home like this.

Make a list of materials and equipments that you need. This includes basic garage tools which most homes already have. You can invest on advanced tools if you have capital but you can always make use of tools that you already have. Just invest on brand new ones if you already have money available.

The type of service that you offer to your clients is also important. You can either focus on a single service like car check up and fixing basic car troubles. If you have the skills and knowledge, you can go as far as the advanced services like customizing cars. These will all depend on how much you know and what you can actually do.

You will need to allocate a space at home as your work area. Your garage will do. You will also need to make sure that your tools are very well organized for you. Some clients might ask you to do this and that for a limited amount of time. That is why organization is important. You will need to provide the best service and efficiency to your clients. You must ensure that you do your job correctly and quickly. People are too busy with their schedules and careers that they will prefer to have things done quickly.

You will also need to decide on how you will charge your clients. You can coordinate with local auto mechanic shops for the fees that they will charge so that you could base your fees with theirs. You can also research through the internet about local auto mechanic shops about charging fees. You will also need to be flexible on your schedule. You can also coordinate with local towing companies if in case some of your clients would need such services.

Here are a few things that you can do to start your auto mechanic shop business from home.

1. Prepare yourself. You will need to ensure that you know what you are doing. This means that you must review and research.

2. Allocate a space at home for your work area. Your garage is the most ideal work area since you already have your car repair tools organized there. Invest on additional tools that you will need.

3. Coordinate with local towing companies for any special services that you will need to provide to your clients.

4. Decide on how you will charge your clients. You can learn from other local auto mechanic shops in your area.

5. Advertise through local newspapers, the internet and through your friends.

Besides being effective on your job, you must also ensure that you are efficient because clients would expect you to give them the best service.