elite started this topic @ 20:23 on 25/09/2006
I own a debt recovery agency and have recently been considering starting a side company offering new start ups and recently established companies credit control consultancy/training.
Im often attending meetings approaching businesses for debt collection business but find myself also helping people with their in house stuff for free as well.
It would include everything from terms and conditions, cash flow etc right up to legal action.
Is this something you think would be of interest ? I was thinking of £300 for a days training which would include manuals, template letters, website to use, etc etc.
Your thoughts please
RE: Book Keeping/Credit Control/Debt Recovery Training
safenet | 25/09/2006 11:46 PM
Hi Elite,
Generally I think you'll find that most startups will probably use their accountants for bookkeeping tips and advice on accounting for bad debts as it keeps the cost down compared to hiring a specialist debt recovery company to advise them on these things. Since costs are a big factor in a startup's survival, personally I think you may be hard pressed to sell the service to a startup.
However as the startup gets larger you may get more call for your services, especially if the startup begins to offer credit agreements etc, which may require more specialist knowledge - and this I presume is where you would come in.
With regards to letters and so on, you can get these free of charge from citizen's advice so you may have difficulty selling these to people. A better slant on the training side would probably be doing it for them as if I thought I had time to be trained on it, I would try and do the research myself - if I didn't have time though I would get someone to do it for me.
Good luck though if you do decide to go for it - although I hope I never have to need your services!
Cheers
Chris
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RE: RE: Book Keeping/Credit Control/Debt Recovery Training
James Smith | 26/09/2006 09:20 AM
Tend to agree with Chris - specialist debt collection help tends to me most common in the "middle tier", i.e. established business with plenty of volume but can’t afford an in-house debt collector. Larger business will of course have a full time credit controller.
I regularly give my smaller clients tips and help with debt collection when they first start and there is plenty of cheap/free material about which tends to appear to start-ups without much cash!
REgards,
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James Smith
Chartered Accountant
www.jamesesmith.co.uk
01235 536 773
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RE: Book Keeping/Credit Control/Debt Recovery Training
emplaw | 26/09/2006 12:46 PM
You might get some interest by getting in touch with local business groups and Business Link to offer some short courses.
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Lee Schwartz Lime One Ltd
www.limeone.com 01244 852550
RE: Book Keeping/Credit Control/Debt Recovery Training
graham08 | 22/02/2008 04:18 PM
If you work out a comprehensive course then this could be a good money maker, especially if you are doing it frequently for free! There are better ways to do debt collections though, I know of some friends who have made some pretty poweful software which helps out with debt collection. But the idea and potential profit is there, just set the idea in motion 
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RE: Book Keeping/Credit Control/Debt Recovery Training
simon hampton | 29/07/2008 04:02 PM
We provide Managed Credit Control services, helping you get paid faster.
It is critical to get this right, particularly for a new business, as you want to be paid promptly for work carried out or goods shipped, but not at the expense of repeat business. Give us a call and find out if we can help....www.tak-outsourcing.com
Remember a sale is not really made until you have received the money.
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Simon Hampton
