Your goals in selecting a business package investment are the same whether the program is a franchise or a business opportunity: You must find a package that meets your needs, fits your pocketbook, and will allow you to succeed. As simple as these objectives may sound, choosing the right program presents a serious challenge. When you begin your research, you'll find yourself in a large marketplace, teeming with several thousand potential investments and enthusiastic sales representatives who know you're interested in taking an entrepreneurial leap. Most investors in this marketplace are in unfamiliar territory. Make sure you hold on to your wallet-buying a franchise or business opportunity can be very expensive.
Take yourself through a mini self-evaluation before you go too far in your quest for a franchise or business opportunity. Your success as an investor depends on the focus you bring to this self-evaluation, the solidity of the professional advice you get, the utilization of your skills and interests, and, well, just plain luck.
Assess your skills, work experience and interests. Jot them down on a piece of paper, and talk them over with someone who knows you well. Also write down your personal mission and goals for this business venture. Are you looking for a part-time activity that involves weekend work or full-time self-employment? Do you want to pursue a personal interest? Do you have a knack for sales? Do you enjoy working with the public? Would you be comfortable making cold calls to pitch your product or service? Knowing your skills, needs and interests can help immensely in sorting through the enticing possibilities you'll face.