Industry Analysis & Industry Trends
Most industries in the United States went down with the ship during the recession, but the Credit Repair Services industry was not one of them. As consumers credit scores dropped in the face of late payments due to unemployment and reduced income, industry demand rose at a brisk pace. As the recovery got under way in 2010 and 2011, that growth moderated, but increasing revenue is still expected throughout the next five years.... purchase to read more
Industry Report - Starting a New Business Chapter
Given the industry's low concentration and low investment requirements, its barriers to entry are considered low. However, the increasingly strict regulation of credit repair services has led to increasing barriers for reputable companies.
Although low concentration and investment requirements make it relatively easy for small start-up firms or individual proprietorships to enter the industry, success is not guaranteed. Many firms rely on reputation and word-of-mouth recommendations to win new business. For a new firm, establishing a strong reputation and network can take considerable time, presenting a potential barrier to entry. In spite of this, the lack of big name competitors diminishes the importance of having a brand-name enterprise... purchase to read more