Business Reviews
If you are an entrepreneur ready to take that big step into business ownership, there are a lot of different choices available. Here, we’ll explore some of the most popular entrepreneurial ventures available in order to help you determine what the best choice is for you.
Franchise Business
Franchise business opportunities abound, and with good reason. Someone develops a successful business model and then charges others franchise fees to copy the business, leverage the marketing, and step into a branded, recognizable opportunity. Franchise businesses can be a great opportunity, but not if you really want to be your own boss, work for yourself, and have financial freedom and flexibility. The downside of franchise ownership is that you still have someone (the franchisor) directing your business – someone you still have to answer to. Add to that the high costs of franchise ownership, which can range from $25,000 – $250,000 with land and building requirements, and it’s a costly investment that isn’t right for everyone.
Multi-Level Marketing (MLM)
Another common option entrepreneurs consider when deciding to develop their own business is MLM. MLM can create opportunity and you can generate a decent income as an MLM marketer. What you’re marketing, however, is a company and its products. You’re not developing any personal branding or reach, making you completely dependent upon the brand identity of the MLM company you choose. In the end, you are still working harder and providing more benefit for someone else than for yourself. In this era of Social Media and Internet marketing, the number one asset you have is your own credibility. In a way, multi-level marketing is simply a pared-down franchise business model.
Direct Sales…Your Own Online Business
The advantage of franchise business opportunities is the established successful business model. The disadvantage is the cost to become operational as well as the ongoing franchise fees required to maintain the business. The advantage of MLM is the brand visibility as well as the high quality products and services you have available to sell. The disadvantage is that you work more to benefit the MLM company than to benefit your own long-term success.
There is, however, one business model that allows you to have all of the advantages of franchise and MLM with none of the disadvantages: direct sales and your own legitimate business from home. When you work with a direct sales company, the company exists to support and develop you as a brand, providing you with proven methods for growing your business, which you will control. It offers the most freedom and flexibility with some of the lowest costs of entry and maintenance available.
