Do you want to start a credit and debt counseling company? Or you need a sample credit and debt counseling business plan template? If YES, i advice you read on. There are loads of areas a trained counselor can specialize in and one of them is in credit and debt counseling.
It is no longer news that in most developed countries, the demand for counselors that are specialized in credit and debt counseling is on the increase and they are indeed smiling to the bank at a regular basis; no thanks to the recent global economic crunch that affected most people.
It is important to state that much more than being a trained and certified counselor; you would also require a training and certification in finance (money management) to be able to practice as a credit and debt counselor. Although, in some countries in the world, credit and debt counseling is mostly offered by NGOs, but if you choose to start a business in this regard, you will definitely have enough clients to handle per time.
The good thing about starting a credit and debt counseling business is that you can start the business with little or no capital and you can grow it from your home to become very big. The bottom line is that you must network with both old and young couples, and with any adult that is already earning money for himself / herself.
So, if you know that you have the heart to always help people get out or avoid financial mess, you can empathize and are skilled in human psychology coupled with the fact that you are a certified counselor and a certified financial administrator, and then you need to think towards starting your own credit and debt counseling business.
Now let us quickly go through 7 steps that can help you start your own credit and debt counseling business from the scratch and build it to profitability within record time;
Starting a Credit and Debt Counseling Service – Sample Business Plan Template
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It would do you a whole lot of good if you take out time to do a comprehensive research on why people go into debt, how to access credit facilities, when to apply for loan, how to help people maximize their finances and live within their means and loads of other factors that relates to credit and debt. The truth is that you can only do pretty well as a debt and credit counselor if you know what it means to be in debt and when you don’t have enough finance to run your home and life.
2. Get Trained and Acquire Certification
No doubt this kind of business is not open to all and sundry; you must be trained and certified as a counselor and a money manager before you can start this kind of business. Hence, if you have made up your mind to start your own credit and debt counseling business, then you should go all the way to get trained and acquire certification in counseling and finance (money management). If you have the time and money, you can enroll for a degree in guidance and counseling – the investment will be worth the while in the long run.
3. Get Your Business Registered
If you are certain that this is the right business for you to do, then you need not waste time in getting the business registered with the corporate affairs commission of your country. People would take you serious once they realize that your business is registered.
The truth is that some churches and even NGOs offer credit and debt counseling for free, that is why you must establish from the word go that you are in the business of credit and debt counseling. Once you get your business registered, you can apply to the Federal Inland Revenue Office in your country to get your Tax Payer ID.
Another good thing about this kind of business is that you can choose to operate from home especially if you don’t have the capital to rent an office space and most importantly if your house is conducive for the nature of business you are into. However, if you have the capital to rent a small office space, well and fine.
Your business card is a key component in this kind of business. Your business card should be simple enough and should clearly state the nature of business you are into and your contact details. If you have acquired your certifications, it will be to your advantage if you list them in your business card. The truth is that you will pull more clients once they know that you are certified as a counselor in credit and debt management.
A good business person would definitely be good with networking. It is important to network with the right set of people if indeed you want to make success out of your credit and debt counseling business. You are expected to network with bankers, lawyers, counselors, pastors and loads of both young and old couples. Pastors, Lawyers, Counselors and Bankers are likely to refer clients to you.
7. Act like a Pro
If you act like a pro, people will take you to be one. Much more that being trained as a credit and debt counselor, you would still need to do more for people to know that you can proffer solutions to their financial challenges. Part of what you need to do for people to see you as a pro are that you should blog regularly on any subject that relates to credit and debt management.
You should take advantage of any discussion as regards credit and debt management on Radio and TV, and you should also secure a column on a newspaper where you will be writing on topics that relate to credit and debt management. If any opportunity arises, you can as well offer pro bono services.
Those are 7 trusted steps you must be ready to take when looking to start a credit and debt counseling business in your country.