Looking for one or more of the top business opportunities? Is the common fear of getting ripped off preventing you from launching your own home-based online business?
Don’t Let Fear Be a Roadblock to Your Ultimate Success
It’s very true that many people do worry about getting deceived or mislead in their search for the perfect work-at-home opportunity. It’s unfortunate that there are numerous business opportunities on the Internet that do turn out to be scams. However, keep in mind that this is not a reflection of the home business industry in its entirety. Relax, you can find a profitable business opportunity. Here’s how:
Know Your Rights
You will make better business decisions when you understand your rights as a consumer and do all of the necessary research, just as you would research any other financial investment. According to the Federal Trade Commission’s (FTC) Franchise and Business Opportunity Rule, most franchise and business opportunity sellers are required to provide you with certain types of information to help you make an informed decision.
More specifically, a seller must give you a detailed disclosure document a minimum of ten business days before you pay any money or legally commit yourself to a purchase. A disclosure document typically contains the following:
• Names, addresses and telephone numbers of at least ten previous purchasers who live closest to you. • Audited financial statement of the seller. • Background and experience of the business’ key executives. • Cost of starting and maintaining the business. • Responsibilities you and the seller will have to each other once you have invested in the opportunity.
Moreover, if the seller is exempt from issuing a disclosure statement, you should request one if the cost of their opportunity is significant.
Do Your Research
Before making an investment, several sources can provide you with good information about a company, including the Better Business Bureau, the consumer protection agency, and the Attorney General’s office in your state, as well as in the state where the business opportunity seller is located. Contact at least one of the above offices and find out if any complaints about the seller have been filed.
Here are some more steps you can take:
• Interview others who have invested in the business opportunity. • Find out the number and percentage of people who have succeeded, and by what measure of success. • Determine the total investment cost including supplies, equipment, and start-up fees. • Compare investment costs with those of other comparable business opportunities. • Consult with a lawyer, accountant or business advisor.
Submit a Complaint if Necessary
Also be familiar with the courses of action you can take if you invest in a business opportunity and find out it’s a scam. First, contact the seller and try to get a refund. If you are unsuccessful, report the seller’s fraudulent business practices immediately to the Better Business Bureau, the consumer protection agency, and the Attorney General’s office in your state, as well as in the state where the business opportunity seller is located. You may not be able to get your initial investment back, but you can prevent others from falling into the same trap.
About the Author
Do you know that you can make money online, but just don’t know where to start? Visit this site at www.createmylifeonline.com and discover how to make a full time income from the comfort of your home quickly and easily.