Want to start start a car title loan business?
One easy method we discuss? Place an ad on Craigslist for an employee. Get applications and then meet the candidates at Starbucks. It’s common for this tactic to result in a 60 minute meeting with an experienced car title loan employee who will “spill their guts” and reveal every strategy your future car title loan competitor is using to profit lending $$ on car titles.
You may even hire one of these candidates for your own new car title loan business! Or, find an experienced partner! It’s happened to us many times over the 15+ years we’ve been in the car title loan and payday loan industry.
Now, I’m not suggesting you take advantage of these applicants. Narrow down the candidates to those with real car title loan experience. Tell them you’re researching the title loan space and have not yet decided to start.
At the end of the meeting, offer to pay them for their time. If you learned a lot about the car title loan space, it’s fair to give them a check for $50 – $100 for their time and information. This is your call! It’s about integrity!! I am HAPPY to pay for good information. I think of it as an investment. And paying a great car title loan resource $100 for 60 minutes of their time makes a GREAT deal of sense to me! And again, if you “pull the trigger” and start a car title loan business, this applicant could play a key role in your success!
Here’s a very basic sample script for a “Title Loan Employee Wanted:”
Title Loan Rep
compensation: will discuss
employment type: full-time
Qualifications:Bilingual must peak English/ Spanish
Have a High School Diploma or GED
At least 1 year experience in Title Loan Industry
Detail oriented and have the ability to multi-task
Please email your resume!!!
Meanwhile, here’s a chapter-by-chapter description of our 300+ page Manual on “How to Start or Improve a Car Title Loan Business” and make money by lending money on titles to automobiles.