What are Types of Business Opportunities
If you’re tired of working for someone else, you’re likely thinking about going into business for yourself. While the idea of being your own boss seems appealing, if you don’t already have a solid idea of a business, you’re probably thinking that your doomed to spending the rest of your life as an employee.
You’ll be pleased to know that there are several types of business opportunities just waiting for you to take advantage of them.
Dealership/Distributorship Business Opportunities
If you have a knack for salesmanship you should consider partnering with a company that makes products and serving as their dealership or distributorship. The product can be as large as cars or as small as handmade earrings.
The biggest difference between a distributorship and dealership is that when you set up your business to sell multiple products or brands, you’re a distributor. If you only work with one product/brand, you’re a dealership.
Successful dealership/distributorships can be found in many industries, including:
· Pet Grooming Products
· Agriculture Supplies
· And more
Business Opportunities in Licensing
Licensing is a surprisingly lucrative business opportunity. If you have a talent for marketing, licensing could be the perfect business opportunity for you. As the owner of a licensing company, you’re responsible for helping the creator of a product connect with a business that has a highly recognizable icon/trademark/brand image. You’re a pivotal part in convincing the owner of the license to work with the product creator and let them use the image/trademark/icon in the marketing material for their product.
When the program works perfectly it’s a win-win situation for everyone. The product sells like hotcakes, which puts money in the creator’s pocket. The owner of the license that was used gets a commission from each sale, and you get a smaller commission as a reward for making the merger happen.
Some licensing businesses are run by a sole proprietor while others have sizeable staff.
Franchise Business Opportunities
Franchise business opportunities have been around for a long time. It was the business model that Benjamin Franklin used for his printing companies. If you’re looking for a profitable business venture but are afraid to strike out on your own, you should seriously consider the benefits of franchising.
As a franchisee, you’ll enjoy:
· A respectful ROI
· Being your own boss
· Not having to worry about marketing
· Access to a built-in customer base
· Tried and true branding
Most people enjoy their first foray into franchising that they quickly buy additional locations.
Don’t make the mistake of assuming all franchises do is sell fast food. Nothing could be further from the truth. There are thousands of different franchises that span nearly every single industry. This is good news for you since you can pick the industry and franchise that excites you.
Contractor Referral Business Opportunities
Homeowners are always going to need work done on their property, which means they’re always looking for contractor referrals. You can take this need and turn it into a business opportunity. Start a contractor referral business. As a contractor referrer you’ll serve as the go between for contractors and homeowners. In most cases both homeowners and local contractors work closely with you. You basically play matchmaker and pair the homeowner with the right contractor. Once you’ve made a successful pairing, you get paid.
Business Opportunities in Management Consulting
When you first start out as a management consultant, you can reasonably charge between $50 and $100 an hour. Management consultants who are at the top of their game earn as much as $500 an hour. Both large and small companies frequently turn to management consultants for guidance when the business is looking to improve their overall performance. As a management consultant, you’ll look at the business’s current operating practices, identify problem areas, and help the business develop a plan that will lead to improved performance.
Business Opportunities in Network Marketing
It’s not uncommon for an individual who takes advantage of distribution business opportunities to also set up a network marketing business. The two businesses share a symbiotic relationship. Network marketing is a business opportunity that tasks you with recruiting individuals who are interested in becoming distributors for a specific product. As a network marketer, you receive a small commission from everything the distributors sell. While the commission seems small, it doesn’t take long before it starts adding up.
Which business opportunity are you interested in?