Credit Repair Cloud Blog | How to Start a Credit Repair Business

5 Expert Tips to Start and Maintain a Profitable Credit Repair Business

Written by Keenan Jones | October 14, 2019

The decision to start a credit repair business is exciting. Working from home and being your own boss while helping people at the same time is a pretty awesome prospect. After you experience the initial emotion of what this life could feel like comes the question of “how” – how will you turn an opportunity into a success?

Our veteran credit repair professionals always say: don’t dive into your credit repair business without a plan. A business plan is a blueprint for your business operations.

The expert tips in this post will help you create a solid credit repair business plan that empowers you to start and maintain a profitable credit repair business.

Set a Profitable Price Point

One of the top priorities for your credit repair business plan will be to decide--how much should I charge my clients? Setting a price point that is both fair to clients and profitable to you is important, but it doesn’t have to be difficult. Potential pricing structures include:

  • Flat fee
  • Pay per deletion
  • Recurring monthly payments

You need to choose what’s right for you, but successful entrepreneurs agree, recurring payments are the way to go to maximize your business’ profitability.

Once you know how you will charge clients, calculate your potential revenue. Credit Repair Cloud’s ROI Calculator helps you project how much money you could make with a credit repair business based on startup costs, pricing model, and the number of clients.

Take Advantage of Software to Save Time

When it comes down to it, the actual “work” of serving your credit repair clients is fairly simple. It involves many recurring tasks like running credit audits, creating dispute letters, customer intake, and even billing. Save time and increase your ROI by using software designed to make running your credit repair business easy.

Credit Repair Cloud’s tools and support can help you:

  • Decrease admin hours
  • Delegate tasks to your team
  • Increase time spent on valuable client interactions and education
  • Increase time spent networking with affiliate prospects

In other words, you can’t do it all--nor should you. With the help of credit repair software, you delegate, automate, and spend more time growing your business, not handling the details.

Share Your Knowledge

If you want to go beyond simply repairing credit and becoming a “credit hero”, you need to become an expert on everything credit-related. Next, you need to pass your knowledge on to your clients. The more you know about how credit works, the better service you can provide.

There are a variety of resources on the Credit Repair Cloud website to get you started:

As you deepen your credit expertise, you can then educate clients about how credit works and how to spend responsibly--it will help them get out of debt faster and stay out of debt.

Make Your Business Mission-Driven

While this post is about the “how” of your credit repair business plan, there’s no denying the importance of the “why”. For consumers, your why is important. Mission-driven marketing contributes to customer loyalty and increased revenue.

Many successful credit repair entrepreneurs get inspired and motivated to help people in the following ways:

Your mission-driven business goals will not only appear throughout your company’s messaging, but they will also guide your vision and growth.

Make Your Business Self-sustainable

Along with growth, sustainability is a major goal for every business owner. A self-sustainable business has stable revenue, recurring customers, and a steady stream of new business prospects.

In a service-oriented business such as credit repair, becoming self-sustainable means keeping customers happy and creating “positive buzz” about your credit repair business. Credit repair entrepreneurs have shared some of their favorite ways to keep leads coming in:

  • Encourage your clients to leave positive reviews on your company’s Facebook page, Google business page, or on your website
  • Find opportunities to network with potential affiliate partners and make it clear that you offer a commission for client referrals
  • Provide great service to retain current customers

Making your business self-sustainable gives you the stability and peace of mind you need to start scaling your business faster.

Take advantage of these tips to help you start and maintain a profitable credit repair business!

If you’re still unsure about how to create your credit repair business plan, fear not. This guide provides the recipe for a scalable credit repair business.