Four Steps which will Prevent Fraud - ATM Distributorships
Over at the ATM Marketplace forum, a forum which discusses ATM business opportunities, Dan Roy has an excellent post on how to avoid business opportunities fraud. Mr. Roy was investigating an ATM business opportunity, One Source, and was about to make a substantial investment in what turned out to be a unregistered security, or ponzi scheme.
He didn't fall for the trap. All four of his warning signs are important.
Here is his fourth step:
"Do the research. 2-3 weeks of work is a small price to avoid a potential scam. I learned enough in 2-3 weeks that I am convinced I could have setup a legitimate company just like One Source (outsourced the placement, processing, service, etc). One catch, it was clearly obvious that locations were the gold mine in the whole business model and were not at all easy to come by. While everyone else I spoke to in the industry was dying to get new locations (even offered to buy the ones I had through one source), One Source (this company no one had heard of) somehow had 1,700 locations all set to go). Red flag! Red Flag! Red Flag"! (my emphasis)
Read the entire post and thread on One Source to avoid making a similar mistake with your due diligence on a business opportunity.
Technorati Tags: ponzi scheme, atm, business opportunities, legitimate company, business model, business opportunity, dan roy, marketplace forum, substantial investment, warning signs, fraud
