6 Questions You Need To Ask Before Investing In Home Based Business Opportunities
6 Questions You Need To Ask Before Investing In Home Based Business Opportunities
These are questions you need to consider asking before giving up your hard earn money to invest:
- How long has the business opportunity been in business?
Before investing time and money in marketing a home based business opportunity, it is important to determine how long it has been operating. If it is a new concept that has not been proven in the marketplace, you have no assurance that it will even work.
- Does the company have a fixed address and phone number?
Make sure the online home business you intend to involve with has a permanent address, physical location, and established phone number. This may seem obvious to you, but the fact is, thousands of companies operate with nothing more than a website and an email address. Many of them are just fly by night companies, they here today and gone tomorrow.
- Does the business opportunity have some successful members you can talk to?
Most business opportunities will show you testimonials. However, they often are not trustworthy, they could even be completely fabricated. Ask the owner of the business for names of real people that you can talk to. Call them on the telephone and ask them to share their experiences with the program. This will not only provide you with valuable first-hand information about the program, but it will give you a list of adviser who might be willing to help you along the way.
- How much initial investment is required?
You should not assume that a business opportunity that is free to join is a better investment. In many cases a free-to-join business will involve other costs such as marketing and advertising fees. Keep in mind that nobody gives away “opportunities” for free. In many cases a proven online business opportunity with a successful track record will involve some kind of initial investment.
You have to determine whether a specific business opportunity has a successful track record. Whether it is managed by honest people and offers you a realistic chance of actually making some money. These are the things you must weigh against the entry costs.
- Is there other fees besides the initial joint fee?
Make sure to get a detailed list of all the fees involved in operating the new business. These things may not seem significant now, but they can easily eat into your profits later.
- What is the realistic income potential of the business?
You should take a careful look at the numbers and projections provided by the business opportunity. Then talk with actual members who are using the program to determine if they have been able to turn those numbers into reality.
- How much control of your new business will you have?
Make sure you understand on who owns the business and who controls the way it is developed and marketed. You may want to diversify your product offerings in order to avoid being totally control by people at the 'head office'.
The online home based business opportunity that you consider should require low initial investment and have high profit potential both in the short term and in the long term. It should allow you to build a profitable business of your own that will be a source of income for many years to come.
6 Questions You Need To Ask Before Investing In Home Based Business Opportunities - To learn more about this author, visit Lily Boynton's Website.
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Before investing any time or money in a specific business opportunity online, there are some questions you should consider to ask first. Understanding what to watch for in this line of business will put you ahead of the pack. Any home based business opportunity worth considering will either have a track record that you can investigate and evaluate or it will have a clear statement of the plan, the potential, and the up-front costs.
These are questions you need to consider asking before giving up your hard earn money to invest:
- How long has the business opportunity been in business?
Before investing time and money in marketing a home based business opportunity, it is important to determine how long it has been operating. If it is a new concept that has not been proven in the marketplace, you have no assurance that it will even work.
- Does the company have a fixed address and phone number?
Make sure the online home business you intend to involve with has a permanent address, physical location, and established phone number. This may seem obvious to you, but the fact is, thousands of companies operate with nothing more than a website and an email address. Many of them are just fly by night companies, they here today and gone tomorrow.
- Does the business opportunity have some successful members you can talk to?
Most business opportunities will show you testimonials. However, they often are not trustworthy, they could even be completely fabricated. Ask the owner of the business for names of real people that you can talk to. Call them on the telephone and ask them to share their experiences with the program. This will not only provide you with valuable first-hand information about the program, but it will give you a list of adviser who might be willing to help you along the way.
- How much initial investment is required?
You should not assume that a business opportunity that is free to join is a better investment. In many cases a free-to-join business will involve other costs such as marketing and advertising fees. Keep in mind that nobody gives away “opportunities” for free. In many cases a proven online business opportunity with a successful track record will involve some kind of initial investment.
You have to determine whether a specific business opportunity has a successful track record. Whether it is managed by honest people and offers you a realistic chance of actually making some money. These are the things you must weigh against the entry costs.
- Is there other fees besides the initial joint fee?
Make sure to get a detailed list of all the fees involved in operating the new business. These things may not seem significant now, but they can easily eat into your profits later.
- What is the realistic income potential of the business?
You should take a careful look at the numbers and projections provided by the business opportunity. Then talk with actual members who are using the program to determine if they have been able to turn those numbers into reality.
- How much control of your new business will you have?
Make sure you understand on who owns the business and who controls the way it is developed and marketed. You may want to diversify your product offerings in order to avoid being totally control by people at the 'head office'.
The online home based business opportunity that you consider should require low initial investment and have high profit potential both in the short term and in the long term. It should allow you to build a profitable business of your own that will be a source of income for many years to come.
6 Questions You Need To Ask Before Investing In Home Based Business Opportunities - To learn more about this author, visit Lily Boynton's Website.
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Staging DivaDebra Gould, aka The Staging Diva®, is President of Six Elements Inc., an internationally recognized home staging company. Inspired by many requests from aspiring home stagers wanting to start similar businesses, Gould created the Staging Diva Home Staging Business Training Program. Gould has trained over 1000 Staging Diva Graduates worldwide to start staging businesses. Buying decorating and selling six of her own homes in four years lead to an interest in real estate staging which she turned into a career with the launch of sixelements.com in 2002. Since then she has staged hundreds of homes in addition to teaching home staging training. Gould is the author of several home staging resources including a series of popular ebooks made up of a Design Guide, Color Guide and Portfolio Guide. For more information about Debra Gould visit stagingdiva.com. - Visit Staging Diva's Website |
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
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