Franchises and Multi-Level Marketing 7
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Does anyone really make money from these turnkey businesses?
A few people do. However, like any business, it takes time, hard work, and some trial and error to build the business and make it profitable.
Is it mostly uneducated people and opportunists who lose money on business opportunities advertised in magazines?
The amount of education you have seems to have little to do with who loses money or makes it. People who lose money in turnkey businesses or other business opportunities generally do so for one of these reasons:
- They have unrealistic expectations about how much time and effort they will have to put into selling the product or service to make it profitable.
- They have unrealistic expectations about how much money they can make from the business.
- They salivate on cue (much to copywriters' glee) to words like "easy," "confidential," "lucrative," and "profit," particularly if the ads also include five- or six-digit numbers preceded by dollar signs.
- They don't determine in advance if the product or service will sell, in what quantity it will sell, or what it will cost them to sell the product.
- They don't really like the product themselves or wouldn't buy it themselves at the price they have to charge.
- They discover after buying the business plans or package that the business will require selling and they hate selling.
Is it possible to make thousands of dollars with little effort in my spare time like some of the business opportunity ads promise?
It depends how much spare time you have. The two most important things to remember about opportunity advertising are:
- There's no such thing as a free lunch.
- If it sounds too good to be true, it is.
Remember, even though you may be able to process and fill orders in your spare time, you will have to start out with desirable products or services and will still have to spend time finding customers and doing other routine business chores if you expect the business to be successful. If you can't regularly set aside time to work in the business, you won't succeed.
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