Legitimate business or Scam?

July 28, 2008

John Tozzi writes an interesting article on business opportunities for BusinessWeek Online.

The Internet is littered with offers for home-based business opportunities that promise big profits for easy work. But many of these offers, which range from envelope stuffing to medical billing, are really scams that prey on people’s aspirations to work for themselves.

Michael Webster (bizop.ca) is quoted as saying:

While some home-based business scams target vulnerable people such as the unemployed, experts say anyone can be taken in by the right pitch. “The techniques are no different in kind from the ordinary marketing techniques that normal sales people use. They’re just selling nothing,” says Michael Webster, a Toronto lawyer and the author of a blog on business opportunity fraud. “Anybody can be a mark on any given different day. Even I could be.”

This is very generous of Michael.

This article [and don’t forget the slide show] highlights that scammers are not without skill or charm that can hoodwink even an especially knowledgable professional, including a wary trial attorney.

  • Only about 5% of fraud victims ever report their loss.

Let’s not forget that Richard Solomon, a 45 year U.S. franchise veteran, believes that the large majority of new franchise offerings are just selling nothing [impossible to determine + from – RE: advertising mask + sham business].


%d bloggers like this: