Factoring Broker / Commercial Finance Consultant
Looking for a highly professional home-based business with true six-figure income potential? We know of almost no other business enterprise that offers the opportunities found factoring and small business finance consulting. In today’s challenging economy and jobless recovery, more and more entrepreneurs are starting a small. This is often not completely by choice. With fewer and fewer jobs offering a “living wage” many Americans are now entering the world of the entrepreneur out of necessity. And, one of the primary problems they will face is accessing the necessary capital to grow their business in its early stages when bank financing is not an option.
Factoring Broker: A Unique Business Opportunity
Factoring Brokers and Commercial Finance Consultants occupy a unique space in the small business finance arena, acting as middlemen between non-bankable, cash-strapped business owners and highly specialized alternative commercial finance funding sources. Though it is certainly an “under-the-radar” niche area of consulting, this highly professional career path features so much opportunity for self-starters and mobile creatives, that YAHOO HotJobs rated it as a TOP 10 HOT Profession just a few years ago. In fact, if you’ve got what it takes in terms of soft skills to enter this community (or are willing to develop those skills) we can think of very few home business opportunities that offer the prestige and income potential of commercial finance consulting.
What You Will Need to Launch This Business
This highly professional, specialized niche area of financial consulting. Those with the intent of successfully entering the industry will need:
- The “Look”. This is a “suit and tie” profession where you will be networking with business owners, bankers, CPA’s and many other professionals. You need to look the part of a successful consultant.
- Dependable transportation
- A computer, printer, scanner, and copier
- Contact Relationship Management (CRM) software (essential)
- High quality…in depth product training
Factoring Broker Income and Earnings Potential
Earnings potential as a factoring broker is very dependent on the marketing and networking skills of the individual. This is a relatively easy commercial finance product area to learn and become expert at. That does not mean, however, that business development will come easy. Good factoring brokers will actually spend more time studying, researching, and developing their marketing / networking skills then they will becoming educated about the product. The work is very much worth the effort, however, as income potential in this field is exceptional by any measure. In fact, the prospective income in this career path is what initially draws most to the industry since commissions are both residual and for the life-of-the-account.
Residual-Life-of-Account Commission Income
Referral compensation in this industry is unique with brokers earning residual monthly income for the life-of-the-account. This allows factoring brokers, much like insurance agents, to build books of trailing commission income over time and certainly, those with a career focus on becoming a “career oriented” factoring broker, can look forward to enjoying a six-figure income once they have built a solid business. Learning to broker factoring transactions is also the perfect add-on business for bookkeepers, accounting professionals, tax preparers, and many others. And in many cases, the commissions earned from the part-time brokering of factoring transactions will ultimately eclipse the full time earnings of the broker’s primary profession.
Where to Get Factoring Training
Training in factoring has historically been quite expensive with some training organizations charging in excess of $20,000 for a hands-on education in this highly desirable area. The Factoring 101 Program at IACFB, however, is a product of the International Association of Commercial Finance Brokers (IACFB) and for self-starters, offers a platform which provides everything you will need to begin your journey down this amazing road and business enterprise.
IACFB broker startup program located at Campus IACFB provides everything you will need to become operational as a freelance industry factoring broker including…
- Complete training in IACFB’s web-based e-learning Campus
- IACFB’s Factoring 101 broker training guide (print version)
- Factoring broker website
- Website hosting and domain
- Brochure, Flyer, and Business Card Templates
- Mail Stuffers and Postcards
- CRM Training and Setup
- Access to IACFB’s Learning Lab for New Broker Startup
- Access to the “Factors Directory” with over 500 “broker friendly” lenders
- 200 question competency / certification exam
Commercial Finance Consultant Magazine
One of the best places to learn more about the factoring broker business opportunity and how to get started in this lucrative industry as a freelance agent is the IACFB’s Commercial Finance Consultant Magazine which has dozens of helpful articles to help new comers and guide those seeking a home business as a freelance industry consultant. You can view the free magazine at http://www.commercialfinanceconsultants.com
Additional information on IACFB factoring broker training can be found at www.iacfb.org.