October, 2013

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How many employees will I need for my debt collection business?

SimplicityCollectionSoftware

The answer to this question depends on how you plan to attract and keep business. Generally, most collectors work on a commission basis. In order to optimize the number of collectors you will need, you need to analyze the number and type of accounts you will be working with. Ask yourself these questions: How many accounts do I currently have? You want to have enough account to keep your collectors busy.

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How much money do I need to get started?

SimplicityCollectionSoftware

The answer to this question depends on where you chose to start your business, how many employees you choose to employ, and whether your business will require office space. The typical expenses involved in starting up a new debt collection business are as follows: Local and state business fees. Insurance and taxes. Employee wages. Purchasing debt (assuming that you are not collecting for a 3rd party).

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How quickly can I get my collection business started?

SimplicityCollectionSoftware

Just as soon as you can get your business licenses in place, you can start collecting debt. This is the first and biggest hurdle that you must overcome before you can move forward. Setting up your collection business can be as easy or as hard as you make it. If you are worried about business expenses, consider starting your business as a telecommuting or home based business until you can get the capital and licensing to branch out and expand.

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How much money do I need to get started?

SimplicityCollectionSoftware

The answer to this question depends on where you chose to start your business, how many employees you choose to employ, and whether your business will require office space. The typical expenses involved in starting up a new debt collection business are as follows: Local and state business fees. Insurance and taxes. Employee wages. Purchasing debt (assuming that you are not collecting for a 3rd party).

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

article thumbnail

How quickly can I get my collection business started?

SimplicityCollectionSoftware

Just as soon as you can get your business licenses in place, you can start collecting debt. This is the first and biggest hurdle that you must overcome before you can move forward. Setting up your collection business can be as easy or as hard as you make it. If you are worried about business expenses, consider starting your business as a telecommuting or home based business until you can get the capital and licensing to branch out and expand.