The following article was written by Meek on May 15, 2006:

It costs around $10,000 to purchase a candy vending franchise, and around $125,000 to get started with a dry cleaning franchise. I won’t even shock you with the outrageous cost associated with opening a friendly neighborhood fast-food chain. While choosing to purchase a franchise is a great idea and dramatically increasing your chances for success, the costs for just the licensing can be steep. Not everyone has access to the initial capital necessary to open a franchise, but this inconvenience has not stopped many business savvy entrepreneurs.

Today, many businesses, in almost every industry, offer individuals the opportunity to become affiliates. Businesses establish affiliate programs to encourage people to promote their product or service in exchange for a fee or commission. Think of it as profit-sharing. As an affiliate, you can be in business in minimal time, with little to no financial risk. There is no inventory to stock, no weekly meetings to attend, and most programs allow you the freedom to run your business however you see fit.

Most affiliates simply have a link to the website of the business that they are representing, in which they attempt to direct prospects to the product or service for credit. However, Shanita, one Maryland woman, whom I met at a DC business mixer, runs her affiliate business both on and offline. She is a reseller (affiliate) for a major satellite T.V. provider. For every new customer she refers, she gets a whopping $100. Not only did she have a website, which was provided for free by the program, but she also had business cards, flyers, and other print collateral explaining the latest promotion. Her commitment to this affiliate program runs deeper than just a banner on her personal website; she has successfully made it her full-time career.

If you are considering starting your own business, experiment with affiliate programs. Choose one that suits your interests, or a product that you already use and like. Promote your product or service online and offline. Compare the payout rates (commission structure) among competitors. The Internet offers thousands of great programs, but don’t be greedy; you will make more money if you specialize in only one or two industries. Finally, BEWARE of any program that charges you a fee to get started or an on-going monthly subscriber fee, because these are almost always illegitimate. Read the fine print.

If you are considering becoming an affiliate, feel free to contact me for friendly guidance. Click Here for a helpful resource to get you started.