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Old 19th November 2010, 03:41 PM   #1

Join Date: Nov 2010
Posts: 5
Default Need Some Advice In Starting My Own Business

so here is what i have in mind its nothing new but i want to give it a shot

i want to start something like western union
well it would almost be the same thing but what i need help with is knowing how to start it. what do i need? by that i mean what software? how much money does it take? who do i have to talk to? etc

the services i would offer would be almost the same as western union and those types of places

any help would be greatly appreciated thanks

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Old 19th November 2010, 05:00 PM   #2
Melva's Avatar

Join Date: Oct 2010
Location: New Jersey
Posts: 96

Default This might be of some help ( I hope)

Guide to Money Transfer Services Basics
Get oriented with simple money transfer solutions

By Lisa Maloney

The idea behind money transfer services is pretty simple: You have money at your location or in your business bank account that someone else needs. If sending a check isn't appropriate or fast enough and you're not in a position to use a credit card, your next best option is sending money through a specialized service.

Money transfer companies have offices or bank agreements that allow them to collect money at one location and then distribute it at another. In return for providing this service -- the physical arrival of your money at its designated destination -- they will collect a fee that may vary. Read on for money transfer services basics that include:

1. Understand different types of money transfer companies.
2. Decide whether you need specialized software.
3. Make sure your money can get where it needs to go.

Action Steps
The best contacts and resources to help you get it done

Sort through various ways of sending money

The first step toward understanding the many options for wiring money is to decide whether you want to send money online (over the computer or a mobile phone), offline (in person at a bank or money transfer office) or by telephone. You should also consider what your source and destination currencies will be and how soon you need the money to arrive. Then use the information you've gathered to see which money transfer services are a good match for you and your business.

I recommend: The Money Transfer Guide walks you, step by step, through how to transfer money both online or offline. Icici Bank, an Indian bank that offers its own niche money transfer service, explains the difference between an offline or online wire transfer and offers a helpful money transfer FAQ.

Investigate money transfer software

If your business consistently transfers large amounts of money, you might need specialized software to track your transfers. Software lets you conduct the bulk of your business directly from your desktop, and should only be purchased from an established consulting firm that can make sure you're fully trained in how to use it.

I recommend: Pristine Consulting produces a money consulting software product called Cashpoint that allows users to directly send and track the transfer of money, as well as aggregating and analyzing other useful corporate information such as profit margin. Learn more about bank money transfer software systems like ACI Worldwide.

Find a money transfer business with the right destination in mind

While some niche money transfer companies deal specifically with transfers to and from a specific country (such as India), you'll probably want to deal with a money transfer company that has an established international presence in multiple countries. This makes it more likely that they will be legitimate, as opposed to a clever fraud; it also expands your options of where to deliver money while still dealing with a trusted business partner.

I recommend: PayPal Merchant Services offers world-wide transfers of money online, with a Recommendations Wizard to help you choose the right service for your business. Xoom is another online money transfer service that operates in a number of countries and includes an informative FAQ.

Tips & Tactics

Helpful advice for making the most of this Guide

* Make sure there is a guarantee or refund policy in place if your money is not available where it needs to be and when it needs to be. Make sure that the company you choose to deal with also refunds all fees collected from a failed attempt to wire money, too.

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Old 19th November 2010, 08:52 PM   #3

Join Date: Nov 2010
Posts: 5

hi Melva thanks for your answer i appreciate it..

i have another question this deals with another business idea i had in mind but i didn't know to start another thread so Im putting it here.
i was thinking about buying a website. but i have no experience in this what so ever..
i looked through a couple of website that sell website and i have some questions that i hope i can get some answers to here it goes.
1) what are some good website selling website i went to websitebroker.com and another one but so far the first one looks good.
2.)what would be some good websites to buy since its my first time i want to keep 500 and down
3)how i can ensure that the website i want to purchase is legit? in the FAQ of websitebroker.com it says that the buyer has to do their homework before purchasing that they cant verify every website so how can i?
i think that's all for right now any other help would be greatly appreciated
thanks again Melva for your response

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