Start An Identity Theft Protection Agency

Start An Identity Theft Protection Agency

About

Hackers and cybercriminals can find social security numbers, social media profiles, credit card numbers, bank account information, and more details. Identity theft is a significant problem for consumers, so the services of an identity theft protection agency are in high demand.

An identity theft protection service monitors websites and databases for signs of your personal information such as driver’s license number, medical ID, and bank account numbers.

Starting an identity theft protection agency requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell identity theft protection agency service, or selling identity theft protection agency service online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start an identity theft protection agency ➜

Key stats

market size
$3.2B
starting costs
$11.7K
gross margin
90%
time to build
210 days
growth
Organic social media
time investment
Full time

About

Hackers and cybercriminals can find social security numbers, social media profiles, credit card numbers, bank account information, and more details. Identity theft is a significant problem for consumers, so the services of an identity theft protection agency are in high demand.

An identity theft protection service monitors websites and databases for signs of your personal information such as driver’s license number, medical ID, and bank account numbers.

Starting an identity theft protection agency requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell identity theft protection agency service, or selling identity theft protection agency service online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start an identity theft protection agency ➜

Key stats

market size
$3.2B
starting costs
$11.7K
gross margin
90%

 

time to build
210 days
growth
Organic social media
time investment
Full time

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $0 $7,000
Employee & Freelancer Expenses $150 $250
Website Costs $223 $7,015
Business Formation Fees $600 $4,700
Software Expenses $162 $2,894
Advertising & Marketing Costs $0 $1,400
Total Startup Costs $1,135 $23,259

Successful Businesses

Business URL Rank
Scam Detector scam-detector.com #32,023
TransUnion transunion.ca #55,314
Identity Theft Recovery Steps identitytheft.gov #63,397
Trulioo trulioo.com #74,372
Shufti Pro: Identity Verification Service shuftipro.com #76,668
TrueIdentity trueidentity.com #114,629
Action Fraud actionfraud.police.uk #184,802
SEON seon.io #214,604
Florida Attorney General myfloridalegal.com #285,008
United States Postal Inspection Service uspis.gov #325,523
LookingGlass Cyber Solutions Inc. lookingglasscyber.com #574,069

Pros & Cons

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Ability to start your business from home It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
Little startup costs required The cost to start a identity theft protection agency costs significantly less money than most businesses, ranging anywhere from 62 to 23,259.
Rewarding work Starting a identity theft protection agency can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.
Scalable With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.
No overhead costs To get your identity theft protection agency started, there are no costs associated with overhead, storage, packaging, etc. This will save you a lot of time and money!
Cons Description
Crowded Space Competition is high when it comes to your identity theft protection agency, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.
Longer Sales Process A identity theft protection agency can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.
Work can be inconsistent As a identity theft protection agency, the amount of work assigned to you and schedule tends to be more inconsistent, which may make your income less stable. It's important to set boundaries and budget accordingly based on the amount of work you plan to have.
Lack of benefits With a identity theft protection agency, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.
Isolation Often times, as a identity theft protection agency, you typically work alone and do not have much face-to-face interaction with other team members.
Taxes As a identity theft protection agency, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.