Are you about starting a judgement recovery business? If YES, here is a complete sample judgement recovery service business plan template & feasibility report you can use for FREE. Okay, so we have considered all the requirements for starting a judgement recovery service business.

We also took it further by analyzing and drafting a sample judgement recovery service marketing plan template backed up by actionable guerrilla marketing ideas for judgement recovery service companies. So let’s proceed to the business planning section.

Why Start a Judgement Recovery Service Business Plan?

There are businesses that can be started with very minimal capital, but they can still generate huge revenues annually and one of such businesses is a judgment recovery services business. This business that can be started from the comfort of your home and with just a laptop and telephone as long as you have the skills for pulling credit reports, conducting investigations, bringing the debtor back into the court for extensive examination, seizing property, putting liens on homes, garnishing wages, and amongst others.

The judgment recovery professional “takes assignment” on judgments before he or she enforces them. This means that the judgment is actually transferred into the judgment recovery professional’s name, usually through the same method by which any considerable asset, such as real property, is lawfully transferred. From this point onward, the judgment recovery professional is the new creditor, and is thereby standing in the original creditor’s shoes.

You can be sure that your services would always be in demand by small businesses and individuals that can’t afford to hire the services of well – established consultants. They know that it would save them cost, and one good thing about it is that you can handle up to 20 clients per time depending on how organized and hardworking you are.

If you are interested in starting a judgment recovery company, then you should conduct thorough feasibility studies and market survey before committing your money and other resources to it. Aside from feasibility studies and market survey, one of the important documents that will aid the success of the business is a good and workable business plan.

Below is a sample judgment recovery service business plan template that can help you successfully write your own business plan with little or no stress;

A Sample Judgment Recovery Service Business Plan Template

1. Industry Overview

The judgment recovery service is classified under the Debt Collection Agencies industry and this industry comprises of businesses that pursue payments on debts owed by individuals and businesses. Most collection agencies operate as agents of creditors and render their services for a fee or percentage of the total amount owed. Other agencies purchase debt portfolios from creditors at a discount and then pursue outstanding balances for their own gain.

The Debt Collection Agencies industry under which judgment recovery falls under is in a mature stage of its growth. The industry is characterized by growth in line with the overall outlook of the economy, consolidation from the largest players in the industry and wholehearted market acceptance of industry services. The judgment recovery business will continue to be in high demand in the united states.

If you are close observer of happenings in this industry, you will notice that over the five years to 2018, revenue for the Debt Collection industry is expected to contract due to tightening regulations from the Consumer Financial Protection Bureau. For the first two years of the period, consumers continued deleveraging as they had in the immediate wake of the recession.

From 2015 onward, although households began to readily assume debt, industry revenue continued to decline. This is partly attributed to more stringent supervision from the Consumer Financial Protection Bureau and lower debt recovery rates. Regulation is expected to tighten further over the five years to 2023, and, as a result, industry revenue is projected to continue to decline.

The Debt Collection Agencies industry is indeed a large industry and pretty much active in most developed countries of the world most especially in the United States of America, United Kingdom, Australia and Canada et al.

Statistics has it that in the United States of America alone, there are about 8,941 registered and licensed Debt Collection Agencies cum Judgment Recovery Agencies businesses scattered all across the United States responsible for employing about 126,010 people and the industry rakes in a whooping sum of $12 billion annually.

The industry is projected to enjoy -2.4 percent annual growth within 2013 and 2018. The establishments with the lion share of the available market in this industry are Alorica and Encore Capital Group.

A recent report released by IBISWORLD shows that the Debt Collection industry remains fragmented, with the top four businesses expected to account for 25.2 percent of the industry in 2018. More than half of the industry comprises sole proprietors and partnerships due to the industry’s low barriers to entry.

Market share concentration is expected to continue increasing over the next five years as companies look to mergers and acquisitions for increased revenue. The report further stated that acquisition activity is common in a mature marketplace, and IBISWorld projects that this trend will continue over the next five years as businesses focus on cutting costs and improving productivity. Companies will look to grow market share by acquiring smaller operators and their portfolios.

One thing is certain about starting a judgment recovery services business, if you are able to conduct your market research and feasibility studies, you are more likely not going to struggle to secure clients because there are always clients all across the United States who would need your services from to time.

Some of the factors that encourage entrepreneurs to start their own judgment recovery business is because the business has low level entry requirements.

With a judgment recovery business, you can afford to partner with other smaller firms that are into debt collection related services. You can partner with credit repair services firms, you can partner with payday loan firms, you can partner with prepaid credit card firms and you can partner with law firms. The bottom line is that, if you have a robust network and you are well positioned, you can indeed maximize your judgment recovery business.

2. Executive Summary

Ken & Ken® Judgment Recovery, LLC is a registered and licensed judgment recovery firm. The business will be based in New York City – New York. We have been able to secure a well – positioned office in one of the most patronized office complexes in New York City. We are aware that to run a standard judgment recovery firm can be demanding which is why we are well trained, certified and equipped to perform excellently in this business.

Ken & Ken is a client – focused and result driven judgment recovery firm that provides broad-based services such as pulling credit reports, conducting investigations, bringing the debtor back into court for extensive examination, seizing property, putting liens on homes, garnishing wages, and so on at an affordable fee that won’t in any way put a hole in the pockets of our clients. We will offer professional judgment recovery services to all to our clients at local, state, national, and international level.

At Ken & Ken® Judgment Recovery, LLC, our client’s best interest would always come first, and everything we do will be guided by our values and professional ethics. We will ensure that we hire professionals who are experienced in the judgment recovery and debt collection industry.

Ken & Ken® Judgment Recovery, LLC will at all – time demonstrate her commitment to sustainability by actively participating in our community and integrating sustainable business practices wherever possible. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.

Our plan is to position the business to become the one of the leading brands in the whole of New York City – New York, and also to be amongst the top 10 Judgment recovery businesses in the United States of America within the first 10 years of operation.

This might look too tall a dream but we are optimistic that this will surely be realized because we have done our research and feasibility studies and we are enthusiastic and confident that New York City – New York is the right place to launch our judgment recovery business before sourcing for clients from other cities.

Ken & Ken® Judgment Recovery, LLC is founded by Kennedy Holmes and Kenneth Adamson. The organization will be managed by both men since they have adequate working experience to manage such business.

Kennedy Holmes has over 5 years of experience working at various capacities within the debt collection industry in the United States of America. Mr. Kennedy Holmes who is the senior partner graduated from both University of California – Berkley with a Degree in Accounting, and Harvard Business School and he is a fellow at The National Judgment Network (NJN).

3. Our Products and Services

Ken & Ken® Judgment Recovery, LLC is going to offer varieties of services within the scope of the Judgment recovery cum debt collection services industry in the United States of America. Our intention of starting our judgment recovery firm is to work with individuals, household, startups and well – established corporate organizations who would want to outsource their judgment recovery concerns to professionals.

We are prepared to make profits from the industry and we will do all that is permitted by the law of the United States to achieve our business goals, aim and ambition. Our business offerings are listed below;

  • Account collection services
  • Bill collection services
  • Debt collection services
  • Delinquent account collection services
  • Tax collection services on a contract or fee basis
  • Collection on debt portfolios
  • Repossession services
  • Credit reporting services
  • Dispute processing
  • Cease and desist collections processing
  • Settlement assistance

4. Our Mission and Vision Statement

  • Our vision is to build a judgment recovery service that will become the number one choice for individuals and corporate clients in the whole of New York City – New York.

Our mission is to provide professional, reliable, trusted and result oriented judgment recovery services that assist individuals, startups, corporate organization and non-profit organizations.

Our Business Structure

Ordinarily we would have settled for two or three staff members, but as part of our plan to build a standard judgment recovery firm in New York City, we have perfected plans to get it right from the beginning which is why we are going the extra mile to ensure that we have competent, honest and hardworking employees to occupy all the available positions in our firm.

Below is the business structure that we will build for Ken & Ken® Judgment Recovery, LLC;

  • Chief Executive Officer
  • Judgment Recovery and Debt Collection Consultants
  • Admin and HR Manager
  • Marketing and Sales Executive
  • Accountant
  • Customer Care Executive/Front Desk Officer

5. Job Roles and Responsibilities

Chief Executive Office:

  • Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results and developing incentives.
  • Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for fixing prices and signing business deals
  • Responsible for providing direction for the business
  • Evaluates the success of the organization

Judgment Recovery and Debt Collection Consultants

  • Responsible for handling services that revolves around account collection, bill collection, debt collection, delinquent account collection, tax collection on a contract or fee basis, collection on debt portfolios, repossession services, credit reporting, dispute processing, cease and desist collections processing and settlement assistance et al
  • Handle any other related services as assigned by the firm

Admin and HR Manager

  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization
  • Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
  • Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
  • Defining job positions for recruitment and managing interviewing process
  • Carrying out induction for new team members
  • Responsible for training, evaluation and assessment of employees
  • Responsible for arranging travel, meetings and appointments
  • Oversee the smooth running of the daily office activities.

Marketing and Sales Executive

  • Identify, prioritize, and reach out to new partners, and business opportunities et al
  • Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of relevant projects.
  • Writing winning proposal documents, negotiate fees and rates in line with company policy
  • Responsible for handling business research, marker surveys and feasibility studies for clients
  • Develop, execute and evaluate new plans for getting clients
  • Represent the company in strategic meetings


  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Prepare the income statement and balance sheet using the trial balance and ledgers prepared by the bookkeeper.
  • Provides managements with financial analyses, development budgets, and accounting reports; conducts market research to forecast trends and business conditions.
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting for one or more properties.
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensuring compliance with taxation legislation
  • Handles all financial transactions for the company
  • Serves as internal auditor for the company

Client Service Executive/Front Desk Officer

  • Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
  • Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
  • Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s services
  • Manages administrative duties assigned by the manager in an effective and timely manner
  • Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients
  • Receives parcels/documents for the company
  • Distribute mails in the organization

6. SWOT Analysis

Ken & Ken® Judgment Recovery, LLC engaged the services of a professional in the area of business consulting and structuring to assist the firm in building a well – structured judgment recovery firm that can favorably compete in the highly competitive industry.

Part of what the business consultant did was to work with the management of our organization in conducting a SWOT analysis for Ken & Ken® Judgment Recovery, LLC. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Ken & Ken® Judgment Recovery, LLC;

  • Strength:

The track record of our senior partner and of course the skills that our carefully selected team will be bringing to the table will definitely count for a strength for us. We are also confident of the fact that the location of our office is a plus for our business, as we are located in one of the busiest office complex in New York City.

  • Weakness:

As a new judgment recovery firm, it might take some time for our organization to break into the market and gain acceptance especially from corporate clients in the already saturated industry; that is perhaps our major weakness. So also we may not have the required cash to give our business the kind of publicity we would have loved to.

  • Opportunities:

The fact that loads of individuals and organizations finds it difficult to recover debts as a result of court judgment makes the Judgment recovery and debt collection services industry a lucrative industry. As a standard judgment recovery and debt collection firm, we are ready to take advantage of any opportunity that comes our way.

  • Threat:

Some of the threats that we are likely going to face as a judgment recovery firm operating in the United States are unfavorable government policies, the arrival of a competitor within our location of operations and global economic downturn which usually affects purchasing/spending power. There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.


  • Market Trends

IBISWORLD recently released a report that pointed out to the fact that over the past five years, many internet-savvy consumers turned to an increasing number of free online services, hurting industry revenue. The report also stated that aggregate household debt slowly decreased over the period, along with the national unemployment rate, lessening the need for industry services.

Revenue for the Debt Collection industry will continue to decline in the five years to 2022. As the economy improves and unemployment rate continues to decline, the growth of consumer debt levels is expected to grow at a slower rate. Consequently, there will be a narrower scope for growth in judgment recovery and debt collection services in the coming years

The debt collection services industry landscape begun to change, with consumer preferences increasingly trending toward establishments that offer online options. Despite the fact that the recent improving economic conditions are expected to support the growth of revenue generated in the industry. Going forward, increasing product penetration and of course an expanding customer base is expected to drive growth in the industry.

Lastly, operators in this industry ensure that they get all the testimonials they can and publish them on their website and promotional materials. This usually gives them credibility and also attracts more clients.

8. Our Target Market

The demographic and psychographic composition of those who need the services of judgment recovery providers cuts across small businesses and large corporations and individual clients as well.

Ken & Ken® Judgment Recovery, LLC will initially serve small to medium sized businesses, but that does not in any way stop us from growing to be able to compete with the leading judgment recovery firms in the United States. Below is a list of the businesses and organizations that we have specifically designed our products and services for;

  • Households and individual clients
  • NGOs
  • Blue Chips Companies
  • Corporate Organizations
  • Religious Organizations (Pilgrimage journeys et al)
  • Hotels and Restaurants
  • The Government (Public Sector)
  • Schools (High Schools, Colleges and Universities)
  • Sport Organizations
  • Entrepreneurs and Startups

Our Competitive Advantage

The level of competition in the debt collection services industry depends largely on the location of the business and of course the niche of your business. If you can successfully create a unique brand identity for your Judgment recovery firm or carve out a unique market, you are likely going to experience less competition.

The competition in the judgment recovery business is not just within same service providers but also among other players in the debt collection industry. For example, it is now easier for a debt collection firm to also offer judgment recovery services to its clients.

We are quite aware that to be highly competitive in the debt collection industry means that we should be able to deliver result oriented services, our clients should be able to experience remarkable difference cum improvement in their credit ratings and we should be able to meet the expectations of clients.

Ken & Ken® Judgment Recovery, LLC might be a new entrant into the debt collection industry in the United States of America, but the owners of the business are highly qualified debt collection and Judgment recovery experts in the United States. These are part of what will count as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.


  • Sources of Income

Ken & Ken is established with the aim of maximizing profits in the debt collection services industry and we are going to ensure that we do all it takes to attract clients on a regular basis and to get referrals from our clients. Ken & Ken® Judgment Recovery, LLC will generate income by offering the following services;

  • Account collection services
  • Bill collection services
  • Debt collection services
  • Delinquent account collection services
  • Tax collection services on a contract or fee basis
  • Collection on debt portfolios
  • Repossession services
  • Credit reporting services
  • Dispute processing
  • Cease and desist collections processing
  • Settlement assistance

10. Sales Forecast

We are well positioned to take on the available market in New York City – New York and other key cities in the United States of America and we are quite optimistic that we will meet our set target of generating enough profits from our first six months of operation and grow the business and our clientele base beyond New York City to other states in the U.S.

We have been able to examine the Judgment recovery and debt collection market, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast.

Below are the sales projections for Ken & Ken® Judgment Recovery, LLC, it is based on the location of our business and the wide range of judgment recovery and debt collection services that we will be offering;

  • First Fiscal Year: $150,000
  • Second Fiscal Year: $350,000
  • Third Fiscal Year: $750,000

N.B: This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above.

  • Marketing Strategy and Sales Strategy

We are mindful of the fact that there are stiff competitions amongst judgment recovery and debt collection service providers in the United States of America; hence we have been able to hire some of the best business developers to handle our sales and marketing.

Our sales and marketing team will be recruited base on their vast experience in the industry and they will be trained on a regular basis so as to be equipped to meet their targets and the overall goal of the organization. We will also ensure that our excellent job deliveries speak for us in the market place; we want to build a standard judgment recovery business that will leverage on word of mouth advertisement.

Our goal is to grow our firm to become one of the top 10 judgment recovery and debt collection services firms in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market.

Ken & Ken® Judgment Recovery, LLC is set to make use of the following marketing and sales strategies to attract clients;

  • Introduce our business by sending introductory letters alongside our brochure to corporate organizations, households, courthouses and key stake holders in New York City and other cities in the United States of America.
  • Promptness in bidding for judgment recovery and debt collection contracts from celebrities, religious organizations and other cooperate organizations
  • Advertise our business in relevant legal and business related magazines, newspapers, TV and radio station.
  • List our business on yellow page ads (local directories)
  • Attend relevant international and local legal and business expos, seminars, and business fairs et al
  • Create different packages for different category of clients (startups and established corporate organizations) in order to work with their budgets and still deliver quality services to them
  • Leverage on the internet to promote our business
  • Engage direct marketing approach
  • Encourage word of mouth marketing from loyal and satisfied clients
  • Join local chambers of commerce and industries with the aim of marketing our services.

11. Publicity and Advertising Strategy

We have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to take the judgment recovery cum debt collection services industry by storm which is why we have made provisions for effective publicity and advertisement of our firm.

Below are the platforms we intend to leverage on to promote and advertise Ken & Ken® Judgment Recovery, LLC;

  • Place adverts on both print (community based newspapers and magazines) and electronic media platforms
  • Sponsor relevant community based events
  • Leverage on the internet and social media platforms like; Instagram, Facebook, twitter, YouTube, Google + et al to promote our brand
  • Install our Billboards on strategic locations all around New York City
  • Engage in roadshow from time to time
  • Distribute our fliers and handbills in target areas
  • Ensure that all our workers wear our branded shirts and all our vehicles are well branded with our company’s logo et al.

12. Our Pricing Strategy

At Ken & Ken® Judgment Recovery, LLC we will keep our fees below the average market rate by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to startups, nonprofits, cooperatives, and small social enterprises.

  • Payment Options

The payment policy adopted by Ken & Ken® Judgment Recovery, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Ken & Ken® Judgment Recovery, LLC will make available to her clients;

  • Payment via bank transfer
  • Payment with cash
  • Payment via online bank transfer
  • Payment via Point of Sales Machines (POS Machines)
  • Payment via check
  • Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for services offered without any stress on their part.

13. Startup Expenditure (Budget)

Starting a judgment recovery firm can be cost effective because on the average, you are not expected to acquire expensive machines and equipment. Basically what you should be concerned about is the amount needed to secure a standard office facility in a good and busy business district, equipping the office, the amount needed to pay bills, promote the business and obtain the appropriate business license and certifications.

These are the areas we are looking towards spending our startup capital on;

  • The total fee for incorporating the Business in the United States of America – $750.
  • Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
  • The total cost for payment of insurance policy covers (general liability, workers’ compensation and property casualty) coverage at a total premium – $9,400.
  • The amount needed to acquire a suitable Office facility in a business district for 6 months (Re – Construction of the facility inclusive) – $40,000.
  • The total cost for hiring a Business Consultant – $2,500
  • The cost for equipping the office (computers, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) – $2,000
  • The cost of launching our official Website – $600
  • Budget for paying at least two employees for 3 months and utility bills – $30,000
  • Additional expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500
  • Miscellaneous – $1,000

Going by the report from the research and feasibility studies, we will need about One Hundred and Fifty Thousand US Dollars ($150,000) to set up a small scale but standard judgment recovery and debt collection firm in the United States of America.

Generating Startup Capital for Ken & Ken® Judgment Recovery, LLC

Ken & Ken® Judgment Recovery, LLC will be owned and managed by Kennedy Holmes and his business partner Kenneth Adamson. They may likely welcome partners later which is why they decided to restrict the sourcing of the startup capital for the business to just three major sources.

These are the areas we intend generating our startup capital;

  • Generate part of the startup capital from personal savings
  • Source for soft loans from family members and friends
  • Apply for loan from the bank

N.B: We have been able to generate about $50,000 (Personal savings $40,000 and soft loan from family members $10,000) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.

One of our major goals of starting Ken & Ken® Judgment Recovery, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to offer our judgment recovery and debt collection services a little bit cheaper than what is obtainable in the market and we are prepared to survive on lower profit margin for a while.

Ken & Ken® Judgment Recovery, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner of our business strategy.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more as determined by the board of the organization. We know that if all that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

  • Business Name Availability Check: Completed
  • Business Incorporation: Completed
  • Opening of Corporate Bank Accounts various banks in the United States: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of Insurance for the Business: Completed
  • Conducting Feasibility Studies: Completed
  • Leasing a standard and well positioned office facility in the heart of New York City: Completed
  • Generating part of the startup capital from the founder: Completed
  • Applications for Loan from our Bankers: In Progress
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Printing of Promotional Materials: Completed
  • Recruitment of employees: In Progress
  • Purchase of the needed software applications, furniture, office equipment, electronic appliances and facility facelift: In progress
  • Creating Official Website for the Company: In Progress
  • Creating Awareness for the business (Business PR): In Progress
  • Health and Safety and Fire Safety Arrangement: In Progress
  • Establishing business relationship with vendors and key players in the industry: In Progress