Writing a Business Plan for a Credit Repair Service
Credit is the life blood of the
United States economy. People require credit in order to purchase homes, make everyday purchases, finance vehicles, and start new businesses. With the advent of the Internet and the ubiquitous nature of technology, many people now rely heavily on their credit scores in order to acquire the funds that they need. Almost all banks and lenders as well as private funding sources will frequently take a look at an individual's credit report in order to determine whether or not they are worthy credit risk. Credit is also used when applying for residential leases as well as for commercial space leases.
From time to time, people get themselves into financial difficulties in their credit score often takes a hit when they are unable to meet their financial obligations. Of course, a credit score can fluctuate over the life of an individual and certain things are removed from a credit report after a certain period of time. Additionally, many mistakes are often made on an individual's credit report and it is necessary to have a credit repair service address these issues. Over the past 14 years, Deutsch and Thomas has worked extensively with credit repair services that assist people with improving their FICO score. We are familiar with all the different revenue streams that can be generated by providing credit repair services not only from directly assisting someone with fixing a specific issue, but also highly recurring streams revenue from ongoing credit monitoring services. The financial model we use clearly showcases all the different
revenue streams that are available to a credit repair service.
As is standard with all of our work, we always provide our clients with a full five-year financial model that features a profit and loss statement, common size income statement, cash flow analysis, balance sheet, breakeven analysis, and business metrics page. We also develop a full-scale marketing and advertising plan specific to your local market as it relates to developing relationships with people that need to have credit issues fixed, developing relationships with referring accountants, and developing relationships with other third-party professionals that will send their clients to your business. We always provide all the necessary economic analysis, credit repair service industry analysis, demographic profiles, and competitive issues that the business will face as it expands. We also discuss some of the challenges and issues that many of these businesses face during their expansion and startup periods.
If you are seeking to have a professionally written business plan for your credit repair service, please feel free to contact us anytime at 646-216-9844 or through the contact us form on this website. We look forward to working with you!