If you spend any time online, surfing the Internet, or even if you spend any time reading magazines that deal with business topics, you will more than likely run across countless business opportunity offerings.

Business opportunities are in essence, "turn-key" operations, where a major company, or even a smaller company, is offering what are basically franchises or memberships in the company. Any person that joins, becomes entitled to use the company name, company marketing materials, and of course, company reputation. There are, however, as in anything, "pitfalls" and "advantages" to joining any type of business opportunity. Many times, one of the "pitfalls" is the fact that there is a membership price to pay when joining, which depending upon the business opportunity, can be quite a staggering fee. It is wise, then, before paying any fees to join a business opportunity to research and ascertain the following aspects of the opportunity:
1. How long is the business opportunity "in business"? You don't want to join a biz op that's "here today, gone tomorrow", taking your fees with it!
2. How do other members feel about the business opportunity? If you can speak with other members, this would help immensely in any decisions.
3. How much money overall can you expect to make from the business opportunity within the first month? Too much competition with other members will make it difficult to make sales, while too few members indicates that it is not a popular business opportunity, so how can it be sold?
4. How often will you be paid?
5. Are there any "undisclosed" extra fees, such as fees for checks or other payment methods? This will cut into net revenues.
6. If you don't succeed, will the business opportunity supply at least a partial refund?
7. Does the business opportunity supply mentors and marketing materials that can be used? It's easier to start and maintain a business opportunity with these components already in place.
8. How well known is the business opportunity? Whether it's online or offline, some business opportunities are "household" names and are easier to promote and sell as a result.
9. What is the turnover rate in the business opportunity? Those that have a large turnover rate among members are usually poor choices. Turnover means simply the number of members that leave the biz op within each month. You need to be able to comfortably afford the fee of the business opportunity, or you will start out "in the red" which is not a good way to start any home-based business.


If everything is controlled by the corporate entity (the "home" office of the business opportunity, so to speak), your creativity and the way you market may be hampered severely.
There are many business opportunities from which to pick. Everything from larger scale offline ventures, to smaller scale online ventures exists. Research into all the above is necessary when choosing an appropriate business opportunity. Fees are sometimes necessary to cover the costs of shipping and handling, or the costs of the marketing materials. There also exist many free opportunities that cost nothing to join and can be a good way to experiment with marketing and the world of home-based business.
If in doubt, simply research and patiently wait a while.


What to Look for in a Home Based Business Opportunity

When you were younger, did you ever dream about having your own home business?
• 40-40-40 Plan (Rut)
• 40 minutes going to and from work
• 40 hours of work per week
• 40 years of life spent working slaving away for someone else?

When things get unfairly tough at work, do you still dream about your own home business – what you would do, how you would run your own home business, how you would treat your employees, what kind of money you would make, what product you would sell? Then when you decide to make a change in your life, do you look for another 40-40-40 job, putting your dream of your own home business on the back burner again for more of the same?
• 1% are wealthy enough to retire in comfort
• 3% are barely able to survive
• 27% are dead
• 69% are dead broke

The two major focal points when looking for a home business opportunity are ones that will:
• optimize your efforts and time

• produce optimal financial rewards

Below are seven simple criteria to consider when looking for a home business opportunity:
1. Look for a business opportunity that offers a product or service that is, or will be, used daily by every household and/or business…
For example, services such as utilities, communication, appliances, etc., or products such as shoes, clothing, soap, etc.
Now think bigger – a product or service used on a daily basis AND that would represent a paradigm shift. For example, a paradigm shift was created in global communication when Alexander Graham Bell invented the telephone. Before 1885, no one had a telephone, nor had they ever heard the word “telephone”. Make yourself a list of products or services in your house that you can research to consider for a business opportunity.

2. Search for a home business opportunity that offers a product or service that has a global market…
It’s a small world. Plain old common sense would tell you that a home business opportunity with a product or service that has a global market would produce warp speed revenue when compared to one that is only within a local, regional, or national area. For example, the revenue produced from Microsoft with a global market is light years greater than that of a local shoe repair shop.
In addition, as you research this global home business opportunity, you will want to make sure that you are not required to stock products. It is time consuming to order products, receive and send out the products, manage backlogs, etc., not to mention the additional costs out of your pocket for shipping and mailing. You also encounter product changes or upgrades that makes your stock obsolete. So, avoid these types of home business opportunities like the plague.

3. Find a home business opportunity that incorporates leverage in its pay plan…
A business opportunity that incorporates leverage in its pay plan provides the best of both worlds. Leverage is a relatively simple concept. Ray Kroc set up franchises for McDonald’s that agreed to pay him 3% of their profits.
In essence, McDonald’s sits back and collects 3% of the profits resulting from others exerting their time and their efforts. Let’s say, just for discussion purposes, that Ray Kroc sold 100 franchises and each produced profits of $50,000 that year. 3% would have produced $150,000 for Ray Kroc, yet he personally exerted no effort or time himself. What he did do though was brilliant, as he applied leverage by selling franchises, and became quite a wealthy man as a result.
Leveraging your home business will minimize your time and effort while maximizing your financial rewards. In a relatively short period of time, your home business will take on a life of its own, and you will be on the fast track to healthy wealth.
To find a home business opportunity that will rocket you into financial freedom, the company should incorporate leverage, not only in their business plan, but also in their financial rewards, preferably on a weekly, monthly, and annual basis – one of which should be residual.

4. Search for a home business opportunity with a company that has live 24/7 support available…
The frustration even compounds when there is a deadline involved for a continuation of service.
Repeat customers comprise 75% of businesses, and satisfied customers will be the main reason for their repeat business with you and your product or service. Even in this automated society, the person-to-person contact is preferred, at least by the customer. Therefore, your success is dependent upon a home business opportunity with a company that has live, warm bodied live support 24/7 – whether it is support you may need, or support your customer may need.
Another important aspect of a home business opportunity with a company that offers live support 24/7, is the global perspective. To be honest, I am hard pressed to think of an international company with live personal support.

5. Seek a home business opportunity with a company that has a proven success record…
A lot of people, and a lot of companies offering their business opportunity, will tell you anything they think YOU want to hear in order to separate you from your money. When you talk to someone about a home business opportunity – turn the tables. Don’t be afraid to ask the hard questions like what they are making on a weekly, monthly, or annual basis with their home business. Ask them how long they have been running their own home business. Find out how many hours a day, week, or month they spend working their business. Ask them to give you examples of how they market their home business. Especially important is to ask if they have to spend additional money for items such as business cards, advertising tools, etc.
An example of a company with a proven success record is Xerox. Although Xerox is not a home business, it has a proven success record. In fact, they were so successful that their name is not only an icon, but the name “Xerox” is synonymous with the word “copy”.

6. Look for a home business opportunity with a company that incorporates training from experts and other professionals…
The majority of people on the Internet do not know how to harness the power of the Internet and turn it into wealth machine for themselves. Most people do not know how to market a home business. Therefore, a home business opportunity with a company that incorporates professional, expert training, taking you from the basics thru the advanced stages of a marketing system, including how to use software programs, marketing tools, etc., is a virtual gold mine.
Since the majority of people on the Internet are not savvy with how to harness its power, a home business opportunity with a company that incorporates professional expert training is a definite requisite for success.

7. Look for a home business opportunity where the company works as a Team.
When you have a business opportunity where the company works as a team, then your weakness may be a team member’s strength. For example, you may be detail oriented and have a harder time conceptualizing or seeing the whole picture. Combining your strengths will optimize your productivity.
If you have your own home business, you need to be upbeat and project a positive outlook at all times.

If you are married, both partners must work, spending countless thousands of dollars on childcare and business clothes. To offset their monetary deficit, many people are looking into getting started in their own home business. Both full-time and part-time home businesses can be operated from the comfort of your own home.

Some people are making extra money to pay for extras, while others have turned their home business into a primary source of income. Some people use their home business as a diversion, to have fun and earn a little "pocket money." The important thing is that they are taking positive action, rather than waiting for a financial disaster. Multi-level marketing, mail order businesses and other in-home businesses are very popular. If this way of earning extra income appeals to you, by all means check out the possibilities. Some other ways of getting started in your own home business include on-line businesses such as a typing service, ghost writing for others, creating ad copy, dating services, credit counselling service, producing how-to DVD's or videos on various topics, preparing resumes, etc. In reality, the options for getting started in your own home business are almost unlimited.

One of your first tasks in getting started in your own home business is to do some market research. Then take a look at how many potential clients would be willing to pay for your services. In other words, define your market and identify your potential clients and customers. After you check the pertinent data, discuss your plans with other knowledgeable people and get their ideas and suggestions. Your next task will then be to develop a detailed business plan. Your business plan should show how much money, if any, you will have to invest, your plan for getting the word out that you're open for business, the exact procedures you plan to use, and how much time you will need to invest. Avoid "jumping in feet first" without first getting all the facts and figures together to avoid finding out that the time and costs involved are too much, which could lead to failure and disappointment. It will pay off in the long run to develop your plans and outline them in a written report prior to getting started in your own home business. Your chances of success will be greater if you know what to expect before launching your home business.

After you have identified your target market and know who your potential customers will be, how you're going to get your service to them and you've identified the time and money it will take to run your business, you're ready to put your plans into motion and get started with your own home business.

I started out in home business following a business model created by Stone Evans aka 'The Home Biz Guy'; I found it to be an excellent starting point for launching my own home business. I now have my own new website, blog and newsletter; you too can achieve home business success if you truly want it. -- Cardinal Newman
Start your home business today and live your dreams.

21 Steps To Home Business Success
Fifty million home-based businesses will be in operation by 1997, according to Link Resource's National Work-at Home Survey. All around the country, people who want more control over their lives are starting home businesses.

In New Orleans, Rick Hart's home based cajun Cargo ships seafood nation wide. In Palatine, Illinois, Stephaine Heavey works from home designing and selling original patterns for fabric dolls. And in Dallas, Lisa McElya published the Dallas Party & Event Planners Guidebook from the entire first floor of her two-story home.

These three people are living the new American dream of owning a business, but avoiding the high overhead and start-up costs of a commercial location. If the idea of working from home is appealing, but you don't know where to begin, here is a step-by-step guide.

STEP #1 DECIDE WHAT PART OF THE HOUSE TO USE
Select an area away from family activity. The perfect space is a separate room (or perhaps the garage), but any area will do, if it can hold all the business supplies and equipment, and also provide enough work space for desks, tables, or counters.

STEP #2 DETERMINE HOW MUCH TIME YOU CAN SPEND ON THE BUSINESS
Many people start a home business on a part-time basis while raising children or working outside the home. Others start full-time when family and finances allow. However you begin, figure out how may hours per week you can devote to the business Make a weekly chart of your activities, examine it, and determine where the business fits.

STEP #3 DECIDE ON THE TYPE OF BUSINESS
Look over this line-up, and using ideas from it, list possible businesses to start. Eliminate any business that isn't appealing or doesn't fill a need people have. For ideas on different types of businesses, consult the end of this article. Other ideas can be found in the source material listed at the end of this article.

STEP #4 CHOOSE A LEGAL FORM
The three basic legal forms are sole proprietorship, partnership, and corporation. It is the oldest form of business, the easiest to start, and the least complicated to dissolve. Here are some of the advantages of this business form: Your business is easy and cheap to organize. Your only other obligation is to notify the Internal revenue Service (IRS) for the purposes of sales tax. You enjoy certain tax savings. You must pay regular individual taxes on your income, property, and payroll, but these are not levied as special taxes, as with a corporation.

STEP #5 GREATER PERSONAL INCENTIVE AND SATISFACTION
Since you have your investment to lose if your business is not successful, you should be more willing to put time, thought, and energy into the business. And when your business is successful, you enjoy maximum sense of accomplishment since you know its success was dependent upon your decisions about your management ability alone.
For more information about this and other forms of business, send for the U.S. Small Business Administration (SBA) Publication MP25. Selecting the Legal Structure for Your BUsiness (50 cents). If after reading it you are still uncertain what form of the business should take, consult an attorney.

STEP #6 GATHER INFORMATION
Spend a few weeks researching home-based businesses. A library or bookstore can provide numerous books on business basics, and on the specific type of business that interest you. Homemade Money by Barbara Brabee (see sources) is an excellent book to start with.
If you are considering a computer business, get in touch with the association of Electronics; Cottagers, P.O. Box 1738, Davis, CA 95617-1738. To keep informed of what is happening in home business world, contact National Home Business report, P.O. Box 2137, Naperville, IL 60566, for subscription information; and Mothers Home Business Network, P.O. Box 423, East Meadow, NY 11554 (send SASE for free information).

STEP #7 CHECK ON ZONING RESTRICTIONS
Find out how your property is zoned, the call City Hall and ask what regulations apply to home businesses in that zone. Also, if you rent or live in a condominium, check the lease or homeowner's association rules to be certain a home business is allowed.
Generally, if you do not annoy your neighbors with excess noise, odors, and traffic, you will not be deterred from running a business at home.

STEP #8 PICK A BUSINESS NAME AND REGISTER IT
If the business you choose is different form your name, file an assumed (or fictitious) name certificate with the county. You are notified if another business already has that name, so you can select a new one.
It costs only a few dollars to file, and it protects the business name from being used by someone else in the county.

STEP #9 WRITE A BUSINESS PLAN
A good business plan clarifies your ideas and establishes a plan of action. A good business plan should include a description of what you are selling, your background and qualifications, who the prospective customers are and where they can be found, what is needed to build the business, how you plan to promote, and how much money is need for start-up costs.
SBA Publication #M925, The Business Plan for Home-Based Business ($1) is helpful.

STEP #10 GET AN IDENTIFYING NUMBER
If you are the sole proprietor of the business and have no employees, you may either use your Social Security number or an Employee Identification Number (EIN) as the business number on official forms. If you have employees, or the business is set up as a partnership or corporation, you must obtain an EIN. To do this, complete IRS Form SS-4 (Application for Employer Identification Number) and file it with the nearest IRS Center.

STEP #11 OBTAIN A SALES TAX PERMIT
If the product or service you sell is taxable, you need a state sales tax permit. Call the local tax agency, explain the type of business you have and what you sell, and ask if you need to collect sales tax. You also use this tax number when your purchase items for resale.

STEP #12 OBTAIN LICENSES & PERMITS
For example, some cities and counties require a general business license, and most have special laws regarding the preparation and sale of food.
Call City Hall to find out what is need for your particular business. In addition, Chamber of Commerce provide information on city, county and state licenses and permits.

STEP #13 SELECT BUSINESS CARDS, STATIONERY, BROCHURES
Spend time on the color, design and paper for these items.

STEP #14 OPEN A BUSINESS CHECKING ACCOUNT
Call several banks to find out what services they offer, and what minimum balance, if any, must be maintained to avoid paying a service charge. Also ask about credit card if you plan to offer this convenience to your customers. If your personal checking account is with a credit union, see if it can also provide a separate business account. when you open your account, you may need to show the assumed name certificate and business license.
Finally, investigate obtaining a credit card in the business's name. If this is not possible, set aside a personal credit card to use for business expenses.

STEP #15 SET UP RECORD-KEEPING SYSTEMS
Put together a simple and effective bookkeeping system with an 8 1/2 x 11" three-ring binder, columnar pad sheets and twelve pocket dividers from the office supply store. Use a pocket divider for each month's receipts, bank statement, deposit tickets, and canceled checks.
In addition, an automobile log for business mileage, and filing system for correspondence, invoices, supplier catalogs, client records, etc. are two other useful tools.
For more information on record-keeping, see IRS publication #583, Information for Business taxpayers.

STEP #16 CHECK IRS REQUIREMENTS
If you comply with basic IRS guidelines, you can deduct a percentage of normal household expenses (mortgage, interest, taxes, insurance, utilities, repairs, etc.) as a business expense. see the box accompanying this article and, for more detailed information, IRS publication #587, Business Use of the Home.
Also become familiar with these IRS forms: Schedule SE (compensation of Social Security Self-Employment Tax) and Schedule 1040 ES (estimated Tax for Individuals).

STEP #17 OUTFIT THE BUSINESS
Make a list of everything needed to start the business, but before you buy anything, look around the house for things you already own that are usable.

STEP #18 DECIDE ON TELEPHONE REQUIREMENTS
Call the telephone company to find out the cost of a business phone in your area. If you cannot afford a separate business line, investigate the telephone company's regulations on using your personal phone in a business. Keep a record of long distance business calls as they are a deductible expense.

STEP #19 CHECK OUT THE POST OFFICE & UPS
Using a post office box as the business address down plays the fact you are home-based. While looking into box rental, ask for information on the various postal rates, particularly bulk rate, if you plan to do large or specialized mailings. If you mail many packages, check out United Parcel Service (UPS), as it is less expensive than the Post Office.

STEP #20 PURCHASE THE NECESSARY INSURANCE
Check with your homeowners insurance agent about a rider for your existing policy or the need for a separate business policy. Shop around, as each company has different rules regarding home businesses
To save money on medical insurance, join an association and participate in their group plan.

STEP #21 ORGANIZE THE HOUSE & YOURSELF
To have more time for business, organize and simplify household routines. Start by holding a garage sale to get rid of unnecessary possessions. Finally, set up a work schedule so you won't get sidetracked by TV, neighbor's visits, snacking, and telephone calls.

Creating and operating a home business is a wonderful and rewarding challenge.