Research Outline

Justice Capitalist


In order to validate a new product called Justice Capitalist, a product to help consumers build credit by reporting rent payments, complete research on the target market, competitive landscape, and future scenarios that could impact the new company.

There are two target markets: those 18-35 in the US and those 35+ in the US. For each, provide average credit score, employment, psychographics (beliefs, values, religion, politics), attitudes towards credit cards, traditional loans, and other lending methods, and their spending habits/payment methods.

For the competitive landscape, identify key companies that help US citizens build their credit scores, pay their rent/mortgage in case of budget shortfalls, and understand their rights as a consumer/renter/homeowner. Avoid companies already found: Perch Credit, Renttrack, Experian boost, Transunion smart move, and Credit Karma. Additionally, provide ways consumers complete these activities without using a specific company or paid service.

Finally, for scenario planning, identify potential or existing regulations that could impact the business such as moratoriums, change in minimum wages, and other scenarios.

Early Findings

Target Market

  • In general, credit score improves with age. The average credit score for those between 20-29 is 662, for those 30-39 is 673, for those 40-49 is 684, for those 50-59 is 706, and for those 60+ is 749.
  • The average salary in the US for those age 20-24 is $33,280 per year, for those age 25-34 is $47,736 per year, for those age 35-44 is $59,020 per year, for those age 45-54 is $59,488 per year, for those 55-64 is $56,680 per year, and for those 65+ is $52,936 per year. These numbers only include those in each age group that are in the labor force.

Competitive Landscape

  • Key credit repair companies in the US include Ovation Credit Services, Sky Blue Credit, Credit Saint, The Credit Pros, The Credit People, and AMB Credit Consultants.
  • Companies that allow renters to pay their rent with credit cards include RentPayment, PlacePay, Rent Track, Cozy, Zego, Rentler, ClickPay, Venmo and PayPal.

Alternate Methods

  • Many consumers try to repair their credit on their own. This process begins by requesting a free credit report from each of the three credit reporting agencies, and/or utilizing free credit tracking apps such as Credit Karma or Credit Sesame. Users then dispute errors themselves, paying down credit cards, and simply waiting for past bad credit activities to fall off the credit report.
  • When renters cannot pay their rent, they also attempt to negotiate payment plans with their landlords, look for rental assistance programs, borrow from family and friends or dip into retirement savings.

Scenario Planning