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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 and compare them with the experience of previous franchise and business opportunity owners.
- Study the business opportunity's franchise disclosure document.
- Visit previous franchise and business opportunity owners in person, preferably at their place of business.
- Check out the company with the local consumer protection agency
and Better Business Bureau. See if 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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