In a lot of ways, the key to successfully choosing a franchise or business opportunity sounds like something Yoda would tell you: Knowledge leads to discernment; discernment leads to smart choices; and smart choices lead to the increased likelihood of success. So before you dive headlong into a business, consider some knowledge. With all the scams and bogus “opportunities” out there, it always pays to do your research.
Sure, something might sound amazing, but it’s always better to have your money than having it invested in a business worth nothing (or even worse). With that in mind, here are various resources that will help you recognize bogus business and franchise opportunities or scams. They are provided by the USA’s anti-scam Jedi Knights, the Federal Trade Commission (FTC). May the Force be with you as you navigate the galaxy of franchising and business opportunities and those who would fraudulently separate you from your money.
(Photo: Barron Fujimoto via Flickr)
Ads for Business Opportunities: How to Detect Deception (PDF)
One of the easiest ways scam artists lure potential investors is through advertising—whether in print or online. This guide walks you through ways to spot fraudulent ads for business opportunities.
Franchise Rule Compliance Guide; and Amended Franchise Rule FAQs
The FTC’s Franchise Rule requires franchisors to provide a disclosure document that allows potential franchisees to see every detail of the business. The Franchise Rule was amended in 2007, however, and this link offers insight into the changes
At-Home Medical Billing Businesses
Wanna make $20-45K doing medical billing and working from home? Think again.
Bogus Business Opportunities
Like the Franchise Rule, the Business Opportunity Rule protects buyers from investing in bogus claims.
Multilevel Marketing or Pyramid Scheme?
Some multilevel marketing brands are legitimate, others aren’t. How to tell the difference, here.
The ‘Start Your Internet Business NOW!’ Scam
Work from home! Set your own hours! Be your own boss! It sounds too good to be true! Probably because it is.