New Approach for Rating Home Biz Opportunities

| by Bhavna sharma | March 11, 2008
Type "home biz opportunity" into Google's search engine and you will get about 10 Million entries. Also, there were 409,212 searches using the search term "home-based business." This new approach to rating "home biz opportunities" is based on 11 objective major criteria and 7 minor criteria. There are no web sites that only rate home biz oops, only those that review some opps only to point you to their specific opportunity.

Each major attribute can earn 7 points, and each of the 7 minor attributes can earn 3 points each. Ratings will be: Excellent, Good, Average, Poor, and Scam. Excellent requires a score of 90 or above, Good requires a score of 70 or above, Average requires a score of 50 or above, Poor requires a score of 30 or above, and Scams get no score at all. The score totals mentioned above are for all 11 major attributes and the 7 minor attributes. The perfect home business opportunity would score a 98 using these criteria. However, there are no perfect home business opportunities, no matter what the promotion brochures say for a specific opportunity.

Some of the many questions or considerations involved in rating a home business are-

How big is this market?
What is the industry trend?
Is the industry expanding?
What is the nature of the product or service?
Is the product consumable?
How is the product delivered to the customer?
Is there a proven business system?
Is there a good support system?
Is the company well respected?
Will you be ahead of or behind the trends?
Are you early or late in the product and industry cycle?
Do the products provide value for the cost to the end user?
Does the company have any exclusivity or patents?
Regarding the competition, who are you marketing against?
Are there good profit margins?
What is the payment or commission scheme?
What are the sales methods involved?
Is the company "On the Net" and are they E-Commerce enabled?
What level of administration is required?
Is training available from your up line?
How great is the potential to make money in this business?
Do you know someone with experience in this business?
Do you have to do all the work or can you earn overrides?
What is your gut feeling?
Will the company train you?
How soon will my investment come back to me as profit?
Can I work this business at my own pace?
How long has the company been in business?

As you can see from just the limited set of questions above, there are a lot of things to consider before you decide to invest your time and/or money in any home business opportunity.

THE NEW OBJECTIVE APPROACH

This system used to rate home biz opps is based on 11 primary considerations and 7 minor considerations. They are-

Primary
1. Product or service
2. Product price and market competition
3. Company
4. Proven business system
5. Available support system
6. Available training and resources
7. Compensation system
8. Profitability
9. Costs involved - both startup and recurring costs
10.Will I have full control over my business
11.Can I work this business at my own pace

Minor
1. How is the product delivered to the customer
2. Does the product/service have an automated delivery capability
3. Is the company "On the Net" and E-Commerce enabled
4. Are you supplied with business tools to make your live easier
5. What level of administration is required
6. Consider whether you will be ahead of or behind the trends
7. How great is the potential to make money in this business

Using these objective factors will save those looking for home biz opps a lot of time and many dollars that would otherwise be wasted.

Article Source: http://www.articleset.com



About the Author

The restaurant industry in the United States employs an estimated 12.2 million people, making it the nation's largest employer outside of government agencies.

The restaurant industry in the United States employs an estimated 12.2 million people, making it the nation's largest employer outside of government agencies. This industry provides work for more than 9 percent of those employed in the United States.

Eating-and-drinking places are extremely labor-intensive -- sales per full-time-equivalent employee were $57,567 in 2003 and notably lower than other industries. More than four out of 10 adults have worked in the restaurant industry at some time during their lives and 27 percent of adults got their first job experience in a restaurant. Every additional $1 million in restaurant sales generates an additional 42 jobs for the nation's economy. In 2004 more than 54 billion meals were eaten in restaurants and school and work cafeterias.

The typical employee in a foodservice occupation is:
- Female 55%
- Under 30 years of age 52%
- Single 68%

Between 1970 and 2002, restaurant-industry sales will post a compound annual growth rate of 7.3 percent. Industry pundits are now tipping that restaurant industry sales on a typical day in 2005 will topple $1.3 billion. This equates to an annual estimate for 2005 of $476 billion in restaurant sales. This also includes the impact that such sales will generate in related industries such as agriculture, transportation and manufacturing. They estimate that there will be more than 900,000 locations serving more than 70 billion meal and snacks. The industry will continue to expand driven by the desire of American's need for convenience an increase in their disposable income, and the need for fast food to fit today's busy lifestyles.
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