Avoiding Business Opportunity FraudTopics Covered:
Signs of Business Opportunity Scams
Spotting a scam isn't always easy. The promoters are sharp, confident, and seem to have an answer to all your concerns. The following are hallmarks of fraudulent business opportunity schemes today:
Newspaper and magazine ads that contain little more than glowing promises and an "800" number. Keep in mind that just because an ad appears in a reputable newspaper or magazine does not mean that the information it contains is accurate or legitimate.
Earnings claims that sound too good to be true. "Working part time" or "no experience necessary" are also phrases to watch for. The truth is that making money almost always requires hard work . . . and lots of it.
Claims about "proven" concepts, newest technology, etc. In fact, many of them are either unproven or fraudulent. Many either do not work, or don't work as advertised.
- Promises of exclusive territories, guarantees of good locations, or the assistance of a professional locator. Be cautious when you sign up with a firm that is supposed to identify prime sites for your vending machines, pay telephones, display racks, or other items.
Remember that a bogus business opportunity promoter will promise you the sun and the moon in order to get your money.