Business advice

[Noo Yawk]

Hi all,

I'm looking to start a home based business as a source of additional income. I was wondering if any of the lawyrs/accountants/business people could provide me with any insight to my new venture. I just want to make sure when I put my business plan together I'm looking for the right information tax and legal wise. Also any expenses that I may not be figuring in.
It's going to be a sole proprietorship home based cruise sales franchise. I'd like to get as many revenue streams as possible coming in over the next few years, and just thought it was a good time to take the plunge.
Any advice, would be much appreciated.
Thanks in advance,
NY

[midas]

Noo:

I'm not sure I understood what the business is - it sounds like you are buying/starting a franchise that is a travel agency focusing exclusively on cruises. If so, what's the name of the franchise?

Let's skip legal and tax for now and focus on the franchise aspects of the venture, like:

1. What do you get for the buy-in? - exclusive territory, lead support, reservation systems.

2. You should actually talk to other franchisees of this concept and ask the basic questions before taking the plunge.

3. You should also read the UFOC - Uniform Franchise Offering Circular for detailed information on the concept.

Those are the big picture questions that actually apply to any franchise.

[Noo Yawk]

Hi Midas,

The franchise is called cruiseOne. You get sales and marketing support along with the software and an 8 day training program. They get discount rates at all the major cruise lines, and you are able to access their booking engine. I've already read their
UFOC and have spoken to several franchisees. All have been very happy with the support they recieved and seem to feel it's a worthwhile endeavor.
For the most part I've done my homework, and am in the process of putting my business plan together. I'm really just trying to get as much feedback as possible from any source I can think of.
Thanks again for your response.

[Myrtle]

Many franchise opportunities are VERY risky, and some are outright scams........

Before you sign anything get a list of all other active franchisees and do some serious investigative work. Make sure the list is legit....not a bunch of straw men.....Talk to the owners....have all your questions written out.....

I'd also do a google search to see what else I could dig up....

Check with the Attorney General and the Better Business Bureau in Cruise 1's state of incorporation....

Good Luck!!!

ps: Why sole roprietorship instead of corp. or LLC? In this kind of a business I would think one needs the kind of protection that those offer?