Factoring Broker Training
The Ultimate Home-Business for Mobile Creatives
Launch a Career as an Independent Freelance Factoring Broker
When it comes to home-based business opportunities, almost nothing can compare to the lucrative income opportunities provided by the factoring industry for it’s freelance brokers. Although an “under-the-radar” home business, it almost stands alone as a perfect opportunity for self-starters and mobile creatives in today’s economy.
Just as banks have loan officers that bring in new loan clients, factors have BDOs or Business Development Officers that do the same. But factors have something else. They also have independent freelance consultants who work with small business owners and then refer them to their selected factors, thus earning a commission for doing so.
What You Will Need to Succees as a Factoring Broker
What is Accounts Receivable Factoring
Accounts Receivable Factoring is a powerful business finance tool that is used throughout the world to provide cash flow solutions for B2B companies that invoice for their sales. In the U.S. alone, factoring volumes exceed $100 billion annually but that volume is dwarfed by the amount of factoring provided in many other countries. Click here to find out more.
Training
For today’s business opportunity seekers, whether seeking a completely new career path or simply looking to supplement their income from a current profession, “factoring consultant” stands out as a brilliant career for self-starters and mobile creatives. While the business is not difficult, you will need to access a certain amount of training.
Home Office
There are many “types” of factoring brokers and consultants, and this is a business in which one size never fits all. No matter how you enter the industry, virtually all factoring brokers operate from a home office. It is a consulting business, and you will need the basics of a productive office, including a computer, printer, and CRM (Contact Relationship Manager).
Networking
Though certain successful industry consultants will utilize many types of direct marketing tools, such as direct mail or cold calling, the vast majority of brokers and consultants will focus more heavily on networking and relationship building. For factoring brokers, social media is very important, and in particular, LinkedIn is a critical component of success for all brokers
Where to Get Started in the Industry
The Factoring Broker business opportunity is exceptional by any standard and, from the standpoint of competition, is still well “under the radar.” Factors pay independent brokers handsomely. Commissions are paid to referrers as a percentage of the factors earned fees. Because clients factor weekly or, in some cases, even daily, commissions are paid on a residual basis and for the life of the account.
One of the best methods of getting started in the freelance business development side of the factoring industry is to get associated with IACFB (the International Association of Commercial Finance Brokers), which offers a complete e-learning, flexible platform that is geared to both those seeking a full-time professional career in factoring and alternative commercial finance consulting as well as those simply seeking a very part-time career as an occasional industry “referrer or “Factors Agent.”
Factoring Broker
Commissions
Broker commissions in the factoring industry are near-legendary with referrers being paid on a “residual” and life-of-account basis. Since clients tend to utilize factoring week after week and month after month, referring brokers can earn monthly commission checks for years for a single referral.
Getting Started
as a Referrer
It is very easy to begin earning commissions as a factoring broker once you have just a little training. IACFB’s Factoring Broker Training Guide and supporting online course is all you need to get started. Anyone can earn and here’s how to get started.
Low, Low Cost
Training
Did you know you can get the training to be a factor’s agent or broker just for joining IACFB? That’s right! All members of the IACFB (International Association of Commercial Finance Brokers) are provided with all of the necessary training to begin earning industry broker commissions. (Pricing)
Thinking About
Getting Started?
As far as a home-based business opportunity goes, almost anyone can earn residual commissions as a factoring broker. One of the best ways to get started and at under $35, the most affordable is to subscribe to IACFB’s factoring broker magazine which also provides a 5-star rated, 200 + page Broker Training Guide
