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What Are the Different Types of Small Business Opportunities?

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  • Written By: Jessica Ellis
  • Edited By: Bronwyn Harris
  • Last Modified Date: 10 March 2014
  • Copyright Protected:
    2003-2014
    Conjecture Corporation
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People who dream of setting their own hours and being their own bosses may want to consider the wide variety of small business opportunities available in many regions. Though starting a small business can be hard work, it can be very rewarding for those with the right combination of passion and skills to survive in the business world. There are many different types of small business opportunities, including starting an Internet company or moneymaking website, buying a franchise, or starting a home-based business. Choosing the right types of small business opportunities will depend on an individual's interests, resources, and business skills.

The world online provides a great deal of possible small business opportunities. Within just a few hours, a person can set up a website to sell his products, advertise services, or even make money simply by sitting there. An Internet company can be nearly any type of business, from a retail store to a dating website, that handles the majority of its workload online. Internet businesses have the advantage of not requiring an actual storefront in the real world, which can save an entrepreneur an incredible amount of money on rent, utilities, security, and staffing costs.

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Small business opportunities online do not even necessarily require any kind of goods or service exchange to make money. Creating a popular blog, how-to website, or informational page can be turned into a small business by allowing advertisers to purchase space for their ads, or signing up with an advertising service that pay a website owner anytime a site visitor clicks on an advertisement. The owner's job, in this case, is to maximize traffic to the site so that more and more visitors will be encouraged to click on ads.

Many small business opportunities are available through franchising. This process allows a person to buy the right to operate a store that belongs to a chain, such as a fast-food restaurant, name-brand shoe store, or even mailing and packaging service. Starting a franchise has the added benefit of existing name-brand recognition, plus the existence of a tried-and-true business plan. The owner may need to agree to operate by certain rules and regulations in order to operate the franchise, and may have to go through specialized training to learn how the parent company wants each store managed.

A home-based business provides that eternal dream: a chance to work while still wearing pajamas. Home-based businesses are typically small enterprises that rely on a specific skill that the owner possesses, such as sewing, artistic abilities, or baking. Using community, print, or Internet advertising, the home-based entrepreneur attracts customers and accepts jobs on a per-order basis. Home-based small-business opportunities can cover nearly every type of good or service, from custom wedding gowns to website building. Entrepreneurs in this industry often have total autonomy, but are reliant on a constant influx of customers to ensure a steady income.

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