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According to a recent Investor Protection Trust survey one out of every 5 citizens over the age of 65 has been the victim of a financial scam. Before investing in a business do your research. If it sounds to good to be true it probably is.
There are many books to help you start your own business. Check your local bookstore or go to Amazon.com and enter “Start your own business” in the search box.
Check with the National Association for the Self-Employed. They have consulting information for anyone interested in starting a business. You can ask a question on their Website and they will call you back
They offer this service to members and the cost to join for a year is $120.
You may also be interested in finding more information on purchasing a franchise. It is important to thoroughly check out any organization selling franchises prior to investing.
Talk to others who have purchased. Talk with franchisees that you have identified as opposed to those whose contact information is given to you by the franchisor.
Make sure to have your accountant check expenses and revenue. Always have extra moneys available over and above fees and start up costs in case you run into unexpected problems.
Type the name of the franchise into Google search to see more information and set a Google Alert with the name of the franchise. This alert will notify you of any article that is in print or on the Net involving the franchise.
If, for example, you are interested in starting a restaurant, there are many areas that will provide information of value. On About.com under Restauranting there is an article on purchasing a restaurant franchise or starting your own by Lorri Mealey entitled Guide to Restauranting. |