The New Age
Many business opportunities and franchises are now home-based. The advantages are tremendous. You can wake up at 7:30 in the morning and start work five minutes later.
Many of these opportunities only require a computer, a high-speed internet connection, and a phone.
You can work around your family life and forget entirely about office politics. You become the boss and answer only to yourself. So how does one evaluate a home business opportunity or franchise?
In this article, I will examine the types of businesses that one should be highly skeptical of or avoid altogether.
What to Look for When Starting a Home Business
Avoid any multi-level marketing scheme where you cannot see the end product or the product’s retail price is too high.
One such strategy I researched recently involved selling vitamins at much higher prices than the high street prices. They justified their costs because they had a superior product.
if you are trying to sell a product, why should people usually trust your product to be superior ?
Be highly skeptical of gambling schemes that persuade customers that their chances of winning are higher than buying average lottery tickets from the supermarkets.
Most are crafty schemes designed to take ordinary people’s money without any payout or a much lower percentage of payouts than regular lottery tickets.
Likewise, definitely avoid any products that have not yet been independently tried, tested, and approved. One such product that I heard about recently claimed that it could save users a lot of money on their fuel costs.
The idea is that you regularly use their product in your vehicle, and you can achieve savings of over twenty-five percent! I do not know if this product works or not.
My main concern is that if it worked and claimed to do, why have the major car producers not yet latched on to it?
Why have the large motoring organizations not, however, recommended it to their members?
Have you heard of the saying, “there is one born every minute?”
Watch for Scams
Furthermore, you want to:
- Avoid any scams that involve fortune-telling, psychic ability, or magic. Many of these are cleverly designed to take money from people who are easily fooled. Have you heard of the saying, “there is one born every minute?”
- Look out for and definitely do not get involved in any pyramid schemes. Usually, the only people who tend to make money in these types of businesses are the ones who are at the top of the pyramid. Most people lose money in these, and they have been made illegal in many countries around the world.
- Additionally, learn to be wary of any businesses that claim that you can make a fortune working only a few hours a week. Financial freedom doesn’t develop by working less, only by working consistently and smartly. If they were as good as they claimed to be, why are they selling the secret to you for such a small sum of money?
- Finally, never pay upfront for any home working business opportunity where they refuse to reveal full details until you have paid them a large sum of money. Some home-based franchises are outstanding.
The great thing about buying a franchise is that you can speak to other franchisees in most cases and find out how well they are faring.
They will be happy to tell you all about the franchiser, the products, and the difficulties that they encountered.
Take-Home
Always speak to an accountant and lawyer before signing any franchise agreements and paying over any money sums.
A home-based business does have its rewards, and if you find the right opportunity, it could be the start of a new life.
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