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How To Start a Payday Loan Business
Payday loan businesses are popping up all over the United States, Canada, Mexico, the Carribbean, Australia, New Zealand, England, Ireland, and more. The payday loan industry may be the fastest growing financial segment - bar none! Not only can you find a payday loan store seeminly everywhere but additionally there are payday loan web sites as well. As a matter of fact, the payday loan internet component offers even greater rewards than the payday loan brick-n-mortar!
So, why is this so? Why is the payday loan industry growing at such a rapid rate? And why are a few of the most saavy financial minds entering this "loan shark" business segment? The answer, of course, is the TREMENDOUS PROFITS AVAILABLE! Depending on the state or province, payday loan consumers are paying $10 to $35 per $100 borrowed for a term averaging 8 days. These cash advance fees are equivalent to 480% to 1200% APR's (Annual Percentage Rate). These returns are simply PHENOMINAL!
Not only are the fantastic profits luring entrepreneurs to the payday loan industry but consumers throughout the world have an unsatiable demand for the payday loan product! Small loans ranging from a few hundred dollars to $1500 or more are in huge demand by cash strapped consumers everywhere on this planet. The demand for these so-called "micro-loans" is so profound that Muhammad Yunus who founded the Grameen Bank won the Nobel Peace Prize in 2006 for leveraging small loans to impoverished families. Take a look at his book; "Banker to the Poor: Micro-Lending & the Battle Against World Poverty". (Couldn't we use a portion of our profits and our business model to help families? Think about it!)
Sure, your're reading this and saying to yourself, "Who the heck needs to borrow $300 until their next paycheck? I cannot imagine". So, here are some quick payday loan demand statistics:
Payday loans were developed to help a person receive the money they need today without having to wait until their next paycheck.
We delay the deposit of their personal check until their next pay day, which is usually less than 2 weeks away.
With a payday loan, they get the cash they need before their next payday!!
PAYDAY LOANS or PAYCHECK ADVANCES are one of the fastest growing businesses in the US, Canada, Australia, Costa Rica, South Africa, England, and others. It's the ideal complement to your present business or as a new establishment. If you have a 5 ft. by 5 ft. area available, you can turn it into additional income.
We are helping entrepreneurs open payday advance offices everywhere! There is a tremendous opportunity for individuals to open a payday advance business and get in on the ground floor of a wonderful, money making business. You can even open a Payday Loan business in conjunction with your existing business. Pawn shops, check cashers, liquor stores, car and truck rental companies, furniture rental stores, etc., are opening payday advance loan businesses.
A typical 8 day paycheck advance extended to your client will yield an annual percentage rate on your money of 805%!. Starting costs vary tremendously and are determined by your goals. A new store might require leases, first and last plus a deposit, signage, licenses, phones, etc. Adding a payday advance loan business opportunity to an existing business requires hardly more than working capital, business cards, flyers, advertising, forms, etc.
Payday Advance Loan working capital requirements are determined by you! We have heard of new deferred deposit operators who began with less than $2500.
Our Payday Advance Startup & Training Manual is available for $297.45 including Shipping
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Trihouse Enterprises, Inc.
1516 E. Tropicana, Suite 150
Las Vegas, Nevada USA 89119-8316
A paycheck loan or paycheck advance business is easy to operate IF YOU KNOW HOW TO CONTROL IT. Typically, you advance your check to your client and accept their personal check for an amount in excess of the amount of your check. Your accepting a check, giving the writer less than its face amount, and holding it for an agreed upon period of time. Thus, paycheck advance or paycheck loan or deferred deposit or...
The rationale behind the boom in payday loans is perceived high credit card rates and high bank fees for bounced checks. Immediate gratification by the consumer is another driving force in the deferred deposit business. There is nowhere a consumer can go for a small loan in an emergency. Banks don't do it and loan companies are too slow and complicated. High check bouncing fees drive the business. Banks charge a $20.00 fee and more for bouncing a check (even more for a 2nd or 3rd!). Then the original recepient of the check charges a fee. (Remember the recipient's bank charges a fee to them!) That can make a paycheck advance/deferred deposit fee the best choice.
|YOU CAN MAKE A TREMENDOUS AMOUNT OF MONEY IN THE PAYDAY LOAN BUSINESS AND HELP PEOPLE IF YOU KNOW WHAT YOUR DOING!!|
To achieve success and make SERIOUS MONEY you need Information. Our Payday Loan Manual & Seminars cover the following Topics:COMPREHENSIVE TRAINING
TO TEACH YOU TO BE SUCCESSFUL IN THE PAYCHECK LOAN BUSINESS WE NEED: $2250.00 if you choose
to attend our Seminar
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