TYPES OF BUSINESS OPPORTUNITIES FOR ENTREPRENEURS

There are many business opportunities open out there within and around you if you are creative enough to discover them. Opportunities in them need to be discover not merely at the surface but in-depth. Opportunities could also be created originally from one’s idea, creativity and innovation.

There are many entrepreneur opportunities you could choose. Here is a brief look at different types of business opportunities available:


Buy a Franchise

This involves having an opportunity to start your business from already set-up business. It is expected that such entrepreneurs buy a franchise opportunity. A franchise is an existing business with a solid business plan and process already in place.

An entrepreneur can operate a new business under a recognized business name and receive support from the franchise headquarters with marketing, promotional materials, new business products or services, etc. Good examples of popular franchises are McDonalds and Subway restaurants, home cleaning businesses, Dollar Store, or fitness centers.


Distributorship or Dealership

An important business opportunity is with distributorships and dealerships. A distributor is a person or business agent that has an agreement to sell products or services produced by another company.

A dealer is much like a distributor, but gives more focus to a single/specific product or service. As an Auto dealership, he may sell only Toyotas or as an insurance agent, he might consider only life insurance.


Network Marketing

In addition to distributing the product or services offered by the parent company, a network marketer also endeavours to recruits other distributors, hence creating a network of distributors and earning considerable income through residual commission. This approach is also called Multilevel Marketing.


Licensing

Licensing is another business opportunity. Opportunity through licensing offers an entrepreneur the right to be creative and invent product or service, but retaining the name brand, icon or trademark of the widely recognized business.


Finding and Filling a Niche

Another area where opportunities find attraction to the entrepreneur is in finding or filling a small niche. A niche is small area where a business opportunity is likely to bring profit The superior idea does not always win. A well-timed product or service has a greater likelihood of success. Marketing the right idea into the right niche at the right time is an awesome combination.

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