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    3 Replies Latest reply on Apr 2, 2009 11:47 AM by tfobiz

    Home Based Business - Best ROI

    eWineAdvisor Newbie
      The only reason to start your own business is to make money! I know there is going to be people that claim that it's about being your own boss, the excitement of building something from nothing, etc. But that's B.S. Its about the money, its why we go to work and its what we are all working for.

      The first thing to consider is how much money do I have to invest? Your budget will give you some guidance on what your options are. Regardless of how much you have, the second most important thing to consider is how much money can I make on my investment? If you have $150k to invest and you are not going to make $50k a year, then it will take you years and years to get your money back. Don't forget tht money cost money. Meaning that the $150k that you had invested was making you 5 - 8%, so that $150 really cost you $189k.

      Trends - who cares what was, look at what is going to be. Get into an up and coming industry, not one that is dwindling.

      Retail - Unless you love to work 80 hours a week, are comfortable with signing long term leases that you personally hvae to guarantee and like the excitiment of hiring new people on weekly basis, stay away from retail. If you eve have considered retail youo should kick yourself. There is a reason that trip malls and shopping centers are full of empty spaces.

      Franchise - Do your homework and ask the what if questions. There are some very good franchise opportunities out there, but read the UFOC because its going to be your bible.