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Sunday, April 30, 2006
The Question of a Legitimate Home Based Business
Different opportunities to start a home business are available, and it is quite possible that e-mails are arriving in your inbox several times per day asking you to join their business. How do you know which are legitimate and which are not?
When considering a home-based business, determine whether or not you work well under the direction of someone else who has already established their business, which will be the case if you are entering in as a franchise. Unless you are starting something completely new, you will have to follow the guidelines that have already been set in place. The best way to determine if a business venture if legitimate and right for you is to do some research and footwork. Start asking around about the business. If you know someone who has joined a particular home-based business in which you are interested, talk to him or her about the positives and negatives. Do not go into the business venture with your eyes closed.
Look at the advantages and disadvantages of business opportunities that come with everything you need to start. This is a very personal decision based on what works best for your personality as much as it is a financial decision. If you choose to invest in a business or franchise that has already established a workable concept, you are not starting from scratch trying to invent something new for consumers. This type of business venture will often bring in earnings at a faster rate than starting from scratch and you will often have support in the initial phases and throughout the lifetime of the business.
The potential disadvantages of joining a franchise is that out of ten corporations that offer to sell franchises and other business opportunities, nine of them fail in the first five years of being in operation. So when you are looking into this type of business venture, take notice as to how long they have been in service. The other side of this issue is that if you rule out all companies that have been in business for five years or more you could miss the opportunity of joining a business on the ground floor that has a great potential for profit.
If after careful research and looking at the financial risks and benefits you have decided that a franchise is what you are interested in, consider carefully the following questions:
* Is there a particular district in which you will have to work?
* Do you like the product line?
* Does the business have an established business record?
* Is there a name brand that is associated with this opportunity?
* Is training and support part of the business package or are you on your own once they receive your money?
Starting a home-based business is serious and you do not want to enter into a venture without thoroughly checking it out first.
To read about a proven income opportunity, visit HomeNetMonies.com.
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