Disclosure: I am an independent USANA Associate and may earn commissions on sales. Opinions here are my own. This is general information, not medical, legal or financial advice. No income is guaranteed, and results vary from person to person.
People searching for a "business opportunity in Singapore" often compare franchises, online businesses and direct selling. Before you commit money or time to any of them, ask these questions.
About the business
- How does the business make money, and who are the customers?
- What are all the costs, including fees, stock, tools and advertising?
- What happens if I want to stop?
About the numbers
- Is there an income disclosure or a written summary of typical results?
- How long does it usually take for people to earn back what they spent?
- What do independent sources say?
About the rules
Singapore has the Multi-Level Marketing and Pyramid Selling (Prohibition) Act, and the government publishes information on it. Read how it applies to schemes like the one you are considering. Also ask about registration, tax and any licences you may need.
About you
- Do I have the time and skills?
- Can I afford the risk?
- Is this a business I would want to run in three years?
Talk to people outside the offer
Speak to an accountant, a friend with business experience or a free small business advisory service if one is available.
Warning signs
Be careful with promises of quick or guaranteed income, pressure to decide fast or a business that makes most of its money from recruiting.
A calm rule
If you feel rushed, stop. A good opportunity will still be there after you have done your research.
Frequently asked questions
Is multi-level marketing legal in Singapore?
Singapore has the Multi-Level Marketing and Pyramid Selling (Prohibition) Act and related orders. Read the government's information on how they apply.
How can I check a business opportunity?
Ask for all costs, typical results and written terms, and talk to an independent adviser.
What are the warning signs?
Promises of guaranteed income, pressure to decide quickly and a focus on recruiting rather than products.