I agree that it's not a good time to get into the loan signing business and the way in which I'd answer the question of making money in this industry is to present the facts:
Costs of becoming a CA Notary 6 hour course $$ Application fee to State $$ Bond $$$ E & O $$$ File bond & take oath at county office $$$ Livescan $$ Passport photos $ Journal & thumbprinter $$ Stamp $$ Bag or briefcase $$ Laser printer $$$ Additional toner $$$ Paper $$ Pens $$ Misc. $$ Loan signing course (if needed) $$
Marketing Business cards $$ Directories $$ Website $$ Networking $$ Misc. $$
Taxes $$
Like any sole proprietor business, it takes time to learn the craft well, gain experience, gauge the competition in their area, and build trust to develop a steady clientele. That alone takes a good 2 - 5 years. Your friend needs to be a well versed Notary before even considering loan signings. You said he/she was laid off....they need money coming IN, not going OUT. Therefore, hand/email your friend the very real costs in writing. I'm certain you'll hear, "Nevermind!!"
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