Business Opportunities
Business Opportunities |
Trends and Facts About Business Opportunities Fact: Franchises and business opportunities are not the same. While they share many similarities, it is important to understand their differences before investing in either a franchise or a business opportunity. Franchising a business means you will sign a franchise agreement with the company and enter into a partnership with them that will affect how you run the business, where you can exclusively operate, how long you hold the rights to run the business and will give you the ongoing support to accomplish this.
On the other hand, a business opportunity allows you to buy into the business – but once you get started, you are basically on your own. Business opportunities usually are not as structured as a franchise operation; you are buying into the 'idea' of the franchise, which includes the products and/or services it sells, the tried-and-tested business system and initial training. Business opportunities allow you to tap into existing market demand and a proven record of success.
Some of the pros of running a business opportunity are their less restrictive nature in terms of operation, branding and territory restrictions, their low initial investment fees and lack of ongoing fees. However, remember that you don’t get the ongoing support for a business opportunity, and that you need to conduct extra research, since it may not have the same legal obligations as franchises do to disclose certain details about the business, like the financial health of the operation. Business opportunities are the perfect choice during difficult economic times, as they don’t require large amounts of working capital. This means you can probably start a business opportunity without having to take out a loan – and you still have the potential to grow your business opportunity into a successful enterprise that can change your life.
Fact: Franchises and business opportunities are not the same. While they share many similarities, it is important to understand their differences before investing in either a franchise or a business opportunity. Franchising a business means you will sign a franchise agreement with the company and enter into a partnership with them that will affect how you run the business, where you can exclusively operate, how long you hold the rights to run the business and will give you the ongoing support to accomplish this. On the other hand, a business opportunity allows you to buy into the business – but once you get started, you are basically on your own.
Business opportunities usually are not as structured as a franchise operation; you are buying into the 'idea' of the franchise, which includes the products and/or services it sells, the tried-and-tested business system and initial training. Business opportunities allow you to tap into existing market demand and a proven record of success. Some of the pros of running a business opportunity are their less restrictive nature in terms of operation, branding and territory restrictions, their low initial investment fees and lack of ongoing fees. However, remember that you don’t get the ongoing support for a business opportunity, and that you need to conduct extra research, since it may not have the same legal obligations as franchises do to disclose certain details about the business, like the financial health of the operation. Business opportunities are the perfect choice during difficult economic times, as they don’t require large amounts of working capital. This means you can probably start a business opportunity without having to take out a loan – and you still have the potential to grow your business opportunity into a successful enterprise that can change your life.
15 Develop a Solid Business Plan David Shopper / Getty Images There are many reasons why having a solid business plan is a good idea. An essential component of a business plan is researching the market. Going through this exercise will tell you whether your business idea is feasible in your locale.Having a business plan is also essential if you need startup capital such as debt financing from a bank or equity financing from investors.
When you have a business plan and startup capital in place, select a winning name for your business and register it with your state. Decide what type of business ownership works best for you. Do you want to be a sole proprietor or start a partnership? Should you incorporate? Get any business licenses or permits that are required, and register for taxes if this is necessary in your state. Look into insurance needs. Then start promoting your business. Browse More Business Ideas16 Part-Time Businesses You Can Start TodayThe 10 Best Home Business Opportunities for Now and Tomorrow Best Business Opportunities for RetireesThe Best Business Ideas for Stay at Home Moms or Dads7 Inexpensive Businesses That Anyone Can Start Can You Believe These 12 Wacky Businesses Actually Make Money? Get your new business started: Starting a Business 101
David Shopper / Getty Images There are many reasons why having a solid business plan is a good idea. An essential component of a business plan is researching the market. Going through this exercise will tell you whether your business idea is feasible in your locale.Having a business plan is also essential if you need startup capital such as debt financing from a bank or equity financing from investors.
When you have a business plan and startup capital in place, select a winning name for your business and register it with your state. Decide what type of business ownership works best for you. Do you want to be a sole proprietor or start a partnership? Should you incorporate? Get any business licenses or permits that are required, and register for taxes if this is necessary in your state. Look into insurance needs. Then start promoting your business. Browse More Business Ideas16 Part-Time Businesses You Can Start TodayThe 10 Best Home Business Opportunities for Now and Tomorrow Best Business Opportunities for RetireesThe Best Business Ideas for Stay at Home Moms or Dads7 Inexpensive Businesses That Anyone Can Start Can You Believe These 12 Wacky Businesses Actually Make Money? Get your new business started: Starting a Business 101
DBOP (Durham Business Opportunities Programme) The Durham Business Opportunities Programme (DBOP) helps businesses in County Durham grow, by linking them with tangible opportunities, which could be a new contract, a new supplier or perhaps some investment. DBOP was created to particularly link with businesses which perhaps have not yet engaged with existing business support for whatever reason.
This is why the opportunity-spotting nature of the programme is crucial: the DBOP team at Business Durham will build a relationship with a company and help them identify and go after opportunities for growth, with a wealth of contacts, networks and knowledge available to businesses. Our aim is to simplify and help increase take up of regional and national business support if appropriate to the business and the team will also offer intensive follow on support through the procurement of a number of strands of expertise tailored to a business.
The three year programme is for SMEs and is funded by the European Regional Development Fund (ERDF) and delivered by Business Durham. County Durham Engineering and Manufacturing Network (CDEMN) is the organisation tasked with supporting the continued growth of the area’s engineering and manufacturing industries. County Durham Engineering Manufacturing Network will take the lead on engagement with SME’s in the engineering and manufacturing sector and on identifying potential market opportunities in that sector. Contact the DBOP team at DBOPEnquiries@durham.gov.uk
The Durham Business Opportunities Programme (DBOP) helps businesses in County Durham grow, by linking them with tangible opportunities, which could be a new contract, a new supplier or perhaps some investment. DBOP was created to particularly link with businesses which perhaps have not yet engaged with existing business support for whatever reason. This is why the opportunity-spotting nature of the programme is crucial: the DBOP team at Business Durham will build a relationship with a company and help them identify and go after opportunities for growth, with a wealth of contacts, networks and knowledge available to businesses.
Our aim is to simplify and help increase take up of regional and national business support if appropriate to the business and the team will also offer intensive follow on support through the procurement of a number of strands of expertise tailored to a business. The three year programme is for SMEs and is funded by the European Regional Development Fund (ERDF) and delivered by Business Durham. County Durham Engineering and Manufacturing Network (CDEMN) is the organisation tasked with supporting the continued growth of the area’s engineering and manufacturing industries. County Durham Engineering Manufacturing Network will take the lead on engagement with SME’s in the engineering and manufacturing sector and on identifying potential market opportunities in that sector. Contact the DBOP team at DBOPEnquiries@durham.gov.uk
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7 Senior Care Services One of the best small businesses opportunities. Monty Rakusen / Getty Images Senior care services continue to rank as one of the best business opportunities. Demographics play a big role. The first baby boomers hit age 65 in 2011. The entire baby boomer generation will have will have reached age 65 by 2030. Seniors will make up 1/4 of the entire U.S. population. Unfortunately, although they are expected to live longer lives than previous generations, it's also expected that they'll spend more years in sickness, according to a report on senior’s health by the not-for-profit United Health Foundation.
Fortunately, baby boomers are a wealthy demographic compared to previous generations. For the most part, they can afford to pay for the services necessary to maintain their lifestyles. This includes continuing to live at home in their own communities. According to research by the American Association of Retired Persons (AARP), nearly 90 percent of seniors have this goal. Many affluent seniors suffer from various health and/or mobility issues and are increasingly uncomfortable or unable to drive their own vehicles. They may find it difficult or impossible to take care of household chores such as landscaping, cleaning, cooking or caring for their pets. Others travel extensively and require house sitting or pet sitting and property maintenance services. All in all, a wealth of opportunities exist for entrepreneurs who wish to take advantage of the senior care trend. If you're not interesting in starting your own business from scratch, various senior care franchise opportunities are available.
One of the best small businesses opportunities. Monty Rakusen / Getty Images Senior care services continue to rank as one of the best business opportunities. Demographics play a big role. The first baby boomers hit age 65 in 2011. The entire baby boomer generation will have will have reached age 65 by 2030. Seniors will make up 1/4 of the entire U.S. population. Unfortunately, although they are expected to live longer lives than previous generations, it's also expected that they'll spend more years in sickness, according to a report on senior’s health by the not-for-profit United Health Foundation. Fortunately, baby boomers are a wealthy demographic compared to previous generations.
For the most part, they can afford to pay for the services necessary to maintain their lifestyles. This includes continuing to live at home in their own communities. According to research by the American Association of Retired Persons (AARP), nearly 90 percent of seniors have this goal. Many affluent seniors suffer from various health and/or mobility issues and are increasingly uncomfortable or unable to drive their own vehicles. They may find it difficult or impossible to take care of household chores such as landscaping, cleaning, cooking or caring for their pets. Others travel extensively and require house sitting or pet sitting and property maintenance services. All in all, a wealth of opportunities exist for entrepreneurs who wish to take advantage of the senior care trend. If you're not interesting in starting your own business from scratch, various senior care franchise opportunities are available.
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