The Entrepreneur’s Source – What is Ripoff Report?

When prospective entrepreneurs are first researching opportunities to invest in, they commonly start their research on the Internet, and for good reason. The Internet can be a powerful tool when trying to evaluate whether a potential opportunity might be a good fit for a future franchisee. However, there is a dark side when it comes to the Internet and researching opportunities: Unreliable websites.

It’s imperative for prospective entrepreneurs to understand that not all websites have the best intentions when it comes to effectively evaluating opportunities. Entrepreneurs should look at each complaint and review posted online and truly examine if they should be trusted or if they may have ulterior motives.

Not sure how to identify trustworthy sources from untrustworthy ones? Today, The Entrepreneur’s Source Reviews Ripoff Report as an example of an unreliable site to conduct franchise research on.

The Entrepreneur’s Source Reviews – What is Ripoff Report?
Ripoff Report is a privately owned, for-profit website that oftentimes posts angry or disgruntled anonymous complaints about a business or person. Cassie Slane, a reporter for The Huffington Post Tech Section and BestTechie.com, called Ripoff Report the worst website in America.

“Consumers go on and talk about companies that have supposedly ripped them off, but companies can’t respond, even if the claims are false,” Slane explained. When companies try to get these untrue complaints removed, they often have to pay a steep, flat fee ranging anywhere from $5,000 to $100,000, according to Forbes.

The Danger of Ripoff Report to Franchise Prospects
Ripoff Report tends to rank high in Google searches for many franchises businesses, making it easy for prospective franchisees to pass it as a credible site when conducting research. However, this ranking isn’t solely due to its credibility, but rather due to many outside factors such as efficient tagging capabilities and algorithms. Websites like Ripoff Report boast an abundance of site visits.

The Entrepreneur Source Reviews Tips for Effectively Evaluating Online Information
Just one negative review can have a large effect on an entrepreneur’s perception of a business, so it’s important for these individuals to be cognizant when researching. Here are some tips for prospective franchisees to follow when conducting research about a prospective franchise venture:

• Remember to consult multiple outlets and resources when researching potential franchise opportunities. This allows entrepreneurs to get more than one side of the story.
• Make it a point to conduct research on credible websites, such as dependable news sources like Forbes, The Wall Street Journal and Inc.com. These sources are credible because they can be held legally responsible for libel, defamation and publishing false information.
• Remember that not all review-based websites are fraudulent. Websites like The Better Business Bureau (BBB) and The International Franchise Association (IFA) offer reviews of franchise businesses but also operate on high standards for accuracy and fairness. Because of this, they are great resources for prospective franchisees to consult for research.
• Don’t forget to pay attention to the details, such as the website’s author, date of publishing, sources within the report, website domain, site design and more. All of these factors can lend hints regarding the credibility of an online source. If any of these factors can be questioned by the entrepreneur, then it’s a good sign that the website isn’t a reliable resource.

One of the best ways to ensure that a prospective franchisee won’t be bombarded with false information during research is to find additional resources offline, such as consulting with a business coach. Having a business coach at The Entrepreneur’s Source guide a future franchisee through the research process will enable them to find a better fit because these coaches are trained professionals in the franchise industry and know the ins and outs of each brand.

For more information about business coaching, visit The Entrepreneur’s Source website or contact a business coach today.