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The Federal Trade Commission says that many Internet business opportunities are
scams that promise more than they can deliver. The companies lure would-be
entrepreneurs with false promises of big earnings for little effort. Some tips to
finding a legitimate opportunity:
- Consider the promotion carefully.
- Get earnings claims in writing.
- Study the business opportunity's franchise disclosure document.
- Interview each previous purchaser in person, preferably at their
place of business.
- Contact the local consumer protection agency and Better Business Bureau,
both where the business opportunity promoter is based and where you live to
find out whether there is any record of unresolved complaints.
- If the business opportunity involves selling products from well-known companies,
verify the relationship with the legal department of the company whose
merchandise would be promoted.
- Consult an attorney, accountant or other business advisor before you put
any money down or sign any papers.
- Take your time. Promoters of fraudulent business opportunities are likely to
use high-pressure sales tactics to get you to buy in. If the business
opportunity is legitimate, it'll still be around when you're ready to decide.
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