I received a call this morning from John. John wants to open a consumer loan business.
He’s been researching the industry for 6 months. John’s question, “Should I buy a franchise? Should I start an online loan business? Do I really have to stick it to folks; charge the hell out of them in fees? Am I too late? What about a car title loan business?
I have a $100,000 CD in my bank making no money!
Can I put my money to work with an operator? How much can I get if I do?
Do I need a license?
Are these things REALLY profitable? I see them everywhere!”
New to “the business of lending money to the masses?"
It’s likely you don’t know what a pathetic situation the typical household is in:
42% of consumers say they don't have savings to cover at least three months of living expenses.
47% of consumers say their spending exceeds their income
55% of consumers (138 million people) – are just “financially coping.”
50% cannot get their hands on $400 cash when the car suddenly breaks down, the utility bill is due, a prescription needs filling…
This sucks!
Life in the USA should not be like this!!
This situation needs fixing!!! I can’t fix it. You can’t fix it. WE CAN FIX IT!!!
Interested in this discussion ? Read on: Lending Money to the Masses. Franchise? Internet? Store? Blended? Is there still opportunity today to make money lending money? Click the link and read my thoughts on line now.
