Monthly Archives: November 2017

credit repair merchant account

Winning Tips on Starting a Successful Credit Repair Company

Interested in started a credit repair business or are in the process of starting one? Even if you feel you are on the right track, it never hurts to have a few more tips from credit repair professionals who own successful, established businesses. If you are seriously considering entering the industry, take a look at the following tips from the experts:

Make it a full-time job

Some entrepreneurs mistakenly assume they can tackle credit repair a couple of days a week while still holding onto their current full-time job. However, approaching it this way is very rarely – if ever – successful. Your clients simply won’t take you seriously. To ensure your business venture is profitable, you have to make it your full-time job.

Start with a complete business plan

Trying to start a company without a business plan is like setting out on a trip across the country with no map or planning; the likelihood that you will see the project through is less likely. Without a well-developed business plan, you will have no idea what each phase of the startup process requires to be successful. Your business plan should (at least) cover the 4 basic parts of starting a new company: finance, sales, marketing and operations.

Seek business funding and processing solutions

Once you have created a business plan, you will have a better idea how much capital you need to fund the business venture. Keep in mind, most banks are unwilling to work with startups, and credit repair companies are considered to be “high-risk”. If you encounter a problem with securing business funding and payment processing solutions, consider working with a high-risk specialist like First American Merchant. With FAM, for example, your credit repair company can secure a credit repair merchant account in as little as 24 hours.

Choose a niche

You will also need to identify which types of potential clients you would like to work with. This decision will ultimately affect you affiliate, marketing and operational strategies. In choosing a niche, you ensure you are fully prepared to help each client achieve his or her goal; thus, building a successful company with a stellar reputation.

Develop a pricing structure

Some credit repair companies base their pricing structure on their competitors’ structures. However, this is not always the best or most effective approach. Developing a pricing structure off of other companies fails to take into account what will actually make your company profitable. In order to start out with a profit, you will need to base your audit fee on your cost per acquisition (time, money and resources spent acquiring leads).

Never stop learning

Above all, learn, learn and learn some more. The most successful entrepreneurs take a little time out of their day every day to continue learning. Doing so also allows you to establish yourself as an expert in your field. Someone they can go to for answers for both personal and confusing issues.

Business Funding expert, Nathan Hale, founded First American Merchant with his eyes set on helping the backbone of our country, small business owners. His passions include writing/producing music, and travel. First American Merchant is America’s Best credit repair merchant account company, serving both traditional and high-risk Businesses.