Here are seven tips to help you make your fortune in finder’s fees.
1. A finder simply introduces a buyer to a seller for a fee. He does not become involved in the sales process and is not an agent acting on behalf of the seller.
2. The best areas to earn finder’s fees are those in which you already have expertise and interest. For example, if you are an expert on airplanes and have connections in the aviation industry, you could earn finder’s fees finding suitable planes for those needing them.
3. Protect yourself with written contracts. Also, document all efforts you have made to earn your finder’s fee.
4. You can earn finder’s fees in many areas including equipment (used or new), equipment leasing, finding locations for franchises or vending, scarce materials, commodities, financing, et cetera.
5. Connections are the inventory of a finder. You are being paid to find something of value by someone who doesn’t know where (or doesn’t have the time) to find it. Your knowledge of where and who to get something from is invaluable information that people are willing to pay for.
6. Just as the business that sells something pays its sales staff, likewise the seller generally pays the finder’s fee. The seller is the one that makes a profit from the sale and so usually is the one that pays commissions or finder’s fees.
7. It is possible to find finder’s fees opportunities offered in magazines, newspapers, and newsletters. You can find additional opportunities by doing your own research. Use your contacts, reference and phone books at the library, the Internet, persons you know (or don’t know) who might have the information you need, as well as other sources to find what is needed.
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