Fast Track

Biz Op Basics

What if you're considering a business opportunity? Half the states now regulate the sale of business opportunities. In these states, the seller usually must provide potential buyers with a copy of the company's registered disclosure document before the sale is completed. But many business opportunity sellers don't realize these laws apply to them, and opportunities that cost $500 or less are exempt.

To research a business opportunity, talk to others who have bought the opportunity (the seller should have a list); your lawyer and accountant; the Better Business Bureau; and Dun & Bradstreet, which can provide detailed information about a company's financial status.

Putting forth the effort to research an opportunity before you buy improves your chances of satisfaction after the purchase. Don't neglect this crucial step in the process.

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This article was originally published in the June 1998 print edition of Entrepreneur with the headline: Fast Track.

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