If you want to start a credit repair business from your home—you’re not alone. Ever since the coronavirus pandemic redefined work as we know it, people have been looking for ways to earn on their terms.
Here’s what you need to know:
1. Get to Know the Laws and Regulations
Before you set up shop and start seeing clients, you need to be 100% sure that you understand your state’s laws pertaining to credit repair services.
These laws protect consumers from fraud. They run the gamut from practically non-existent in states like Alabama and Wyoming to incredibly restrictive in Georgia.
There might also be other requirements—such as registration, surety bonds, insurance, or licensing—that your new business needs to fulfill.
Whichever state you’re living in, you want to keep things above board and not violate any laws. A little diligence at this stage can save you trouble down the line.
2. Choose the Right Credit Repair Business Software
There’s no shortage of credit repair software out there, but you need a resource that lets you start for free and grows with your business. In other words, something that you can use for the long haul.
Client Dispute Manager fits the bill. Not only do you not need a credit card to sign up for a 30-day trial, but its different plans ensure it can accommodate your business at every step. Best of all, it offers free credit repair business training.
With one of the best dispute software at your fingertips, you’re ready for the next step in your journey.
3. Set Up the Basics
You now need to take the measures that come with being a responsible business owner. If you’ve operated a business in the past, this should feel familiar. If not, here are the steps to follow:
- Create a business plan—this should cover finances, operations, sales, marketing, pricing, and the other essential aspects of running a business.
- Register as an LLC—this is to protect your assets and finances if things go wrong.
- Get an EIN number—this can be done easily through the IRS website and helps identify your business for tax purposes.
- Consider financing options—if you don’t have enough savings to cover operating costs until you’re seeing clients regularly, you’ll need to look into financing. Popular options include a business loan or line of credit.
4. Start Your Business
This is what you’ve been waiting for. Once all the paperwork is in place, and you’ve completed your training, you can finally start your business. This is the time to put your business plan, training, and knowledge into action.
Go after your target market, ask friends and family to recommend your services to people, and attend networking events to foster useful contacts in the industry.
Bonus: Now that you have read this article, why not take your new skill and start your own credit business helping others? We have free training that can help you do just that.
Click here to learn more.