If you’re thinking of buying franchise, be aware you’re purchasing a business not a job. The franchise may cost anything from tens to hundreds of thousands, so check that your legal and financial advisers are up to the job.

Here are the three Golden Rules for new franchisees :

1. With many franchise contracts weighing in at up to 50 pages in length, you’ll need to take advice. Dan Archer of the British Franchise Association (BFA) says, “With a document as comprehensive as this, it’s vital to know what you’re committing to. Franchise lawyers typically charge a fixed fee of £350-£750 for assessing and explaining the franchise agreement.”

It is a wise precaution to bypass your family solicitor and choose one affiliated with the BFA. There’s a list at www.thebfa.org.

2. Check your own financial position with a specialist accountant before making a move. Rob Mott from estate agency franchise Enfields says, “Ensure you have enough money to buy the franchise and also to maintain your lifestyle through the first year. When you’re running a new business, you don’t want pressure on your home finances. Once you have potential performance figures for your franchise from us and worked out your business plan, take it on to an accountant to challenge them and give the whole plan a ’sanity check’.”

3. As well as getting advice from professionals, talk to existing franchisees who know the business from the sharp end.

If you follow these three golden rules, you should at least have a good chance of surviving, even if it’s you first venture into your own business.

More financial journalists have been giving their top tips for shares on the London Stock Exchange during 2007. Here’s a list of their suggested buys :

Lucy Farndon : Royal Bank of Scotland.
Brian O’Connor : Ark Therapeutics.
Alex Brummer : Prudential.
James Ashdon : Vodafone.
Geoff Foster : Redstone.
Ian Lyall : Oakdene Homes.
Tamsin Brown : Rank.
Manfreda Cavazza : Tesco.
Karl West : ICI
Sam Fleming : Geiger Counter.

All of the above are from the Mail Group of newspapers.

The UK Mail on Sunday has five top share tips for British investors.

Pointing out that 2006 was a much better year than predicted, the runes say that the coming 12 months will be “rocky”. However, we’re assured that the following stocks will perform well whatever the state of the markets :

1. Barclays : This is one of the world’s top banks with a strong High Street network of retail branches, as well a top flight investment bank. It also boasts a very successful fund management division with fast-growing international business interests. Its shares are rising because it has become the subject of a number of takeover attempts in recent times.

2. Biffa : This company collects, treats and recycles rubbish (garbage) for 80,000 customers worldwide. Biffa has been quoted on the London Stock Exchange since October 2006. Prior to its IPO it was part of Severn Trent Water company. The sector is a buoyant one and, it’s believed, Biffa’s management team will make the most of it.

3. Halfords : While the retail sector is expected to be flaky for most businesses, Halfords may well be the exception. It’s the largest seller of car and bycycle parts in the UK and has benefited from a raft of safety legislation in recent years. Analysts expect it to perform well in 2007.

4. CONCATENO : This company is involved in testing for drugs and alcohol — a growing service across the board — advising companies from building to shipping. It works with a number of public sector bodies. It is expected to come into its own this year and trades on the AIM (Alternative Investment Market).

5. Afren : Afren is an oil and gas exploration company run by a former head of OPEC. Its mission is in Africa and is seen as helping rather than exploiting local resources. Many experts think its time has come and it should rise well above its 57p share price in the year ahead.

Building an online business can be a complicated process unless you know the right way to go about it. Here Daega Smith shows us his way :

Online business has now been a trend in the modern day of doing business. It is an effective way to make product selling and responding to client orders or comments. With this trend, all of us are hooked to do it. In order for us to build an online business, here are the following tips that we need to know:

1. Register a domain. It is important to have this item because you needed a contact to host the website you are planning. Of course, you must make bargains with different sectors having business like this.

2. Hosting account setup. Having a private account for your website will truly help.

3. Create a simple web site. As we all know it, your website will say all about your business. It will be your window to potential clients. So when you make it, be read and be able to attract huge number of purchases.

4. Upload files to the designated website. All information needs to be placed in the website for all customers to know what you are selling or marketing. Give them all the needed data. These items will now serve as proofs that your product is good enough to be patronized.

5. Auto-responding component setup. Customers make an inquiry about a product or service is a nice start up business. For this reason, an online form that will convince them to make inputs related to orders, etc. is surely a hit. It is more effective if you can provide an auto-responder because customers need not to wait long for your answer.

6. Order process automation. The faster you transact business, the more you win great number of clients. It is effective to do it online because majority of the people are hooked on the internet’s light.

Formulating a Plan
To build any online business, begin with its concept. Online business is more powerful than the method of doing business before. Imagine, everyone has to personally go to a store to buy items but now you can just do it in a single click. After clicking the desired item, you will be prompted to confirm payment details. Before payment was only done in cash, but now, you need to have an ATM or credit card. If everything is already done, then that’s it. You will just have to wait for your ordered item to come in front of your door. As simple as that!

If you plan to make an online business from the beginning, it is vital to make sure you are starting with nice ideas for your business. You must think what you can do best and start from it. Widen your horizons by doing researches related to your weaknesses. Make those liabilities of yours into great assets. By doing these things, you will be a surefire winner of your endeavor.

What are the in-demand products online? Based from surveys, the following are the products commonly being bought via internet:

1. Computer products and accessories. It is high-tech world nowadays and the need for computers and other devices are increasing. This is a big source of possible sales because it is will be noticed by the public.

2. Books and other references. Majority of the people loves to read books of all sorts - it can be fiction or non-fictions, biographies, academic subjects, fashion magazines, etc.

3. Travel packages. To advertise the latest tour packages and cool discounts!

4. Clothes. What’s in and what’s hot in the fashion industry is the usual content of this advertising.

5. Music (audio CDs). We all love music so it is another mine to make business.

6. Gifts for all occasions. The many occasions we celebrate can be a good source of income to all aspring online businessmen.

7. Investments. Investing money or capitalizing on a business is one sure method to attract people. It has big impact because you are proposing to them a way to make money.

The most important thing when you setup online business or all businesses is to make a detailed plan. Plans for all the expenses, the activities involved, the strategies that you will be doing in your business and other constructive factors. If you do this, it will keep you motivated throughout your business from start to end — a successful way on top!

Our guest author, Daegan Smith, is the leader of the fastest growing team of successful home business enterpernuers on the net. His website is at : http://www.comlev.net.

The Money Blog has no connections with this business or website.