A business opportunity gives entrepreneurs the chance to start a business that has been proven a success, offering an array of goods and/or services that already have huge market demand. Unlike a franchise, business opportunities get you started with a marketable product or idea, but you are not restricted to maintaining the brand, strictly adhering to operational standards or paying ongoing fees. However, business opportunities generally provide little or no ongoing assistance.
Keep in mind that business opportunities typically have very low investment levels, so if you are looking to invest in a business without having to raise extra capital, this may be the perfect option for you.
There are a wide variety of business opportunities available, ranging from legal services business opportunities to chocolate wrapping business opportunities. These opportunities all involve unique products and business ideas that have a track record of success. Some of the categories available are:
- Business Consulting Business Opportunities: These business consulting businesses allow you to assist SMEs and larger companies in achieving the best results from their business practices. When you purchase a business license from one of these business opportunities, you can start your own thriving consultancy practice.
- Travel Business Opportunities: If you love interacting with people and helping them schedule their travel plans, a travel business opportunity may be the right one for you. Often, you can work from your home, as long as you have a working computer and phone line to contact your clientele.
- Personalised Gift Business Opportunities: There are many unique personalised gift business opportunities available, including those that sell custom-made chocolate wrappers, personalised candles and even roses and other gifts with your own message or photo on it. Customers love the one-of-a-kind feel of the product and come back on multiple occasion for their gifting needs.
After you have chosen a business opportunity that fits your interests, then make sure to enquire about the important factors in choosing the right business opportunity. These include:
- Your obligation to the business opportunity: Since business opportunities are different from franchises, know what is required of you once you buy into the business opportunity. Most likely, you will not be obligated to any stringent operational procedures or to operate in any specific territory, but make sure you know what you’re agreeing to do before you make the commitment.
- The business opportunity’s obligation to you: Most business opportunities do not provide ongoing support, but may be available for specific questions or requests for help. Find out what the business opportunity’s owners are responsible for and what they will help you with once the business is up and running.
- What is included with your initial fee: A turnkey business opportunity will give you everything you need to get started. Find out if the business opportunity you are interested in will offer you the same, or if you are just buying a business “idea.”
- Financial forecasting: Although business opportunities are not required to release the details of their financial situation, ask anyway. It is important that you know whether or not the business opportunity has been successful in the past and under what circumstances those entrepreneurs achieved their success. That way, you can forecast your own financial future and build your business around it.
Explore the wide range of options that are available at Franchise Direct's Business Opportunities directory and pick the one that is right for you.