Proper Business plans for success
Business Models for a New Start-Up Business
Business is one of the most essential factors of any current economy. Getting into a business as a newling is not trivial since it calls for some strategic and skillful plans to excel. Nowadays, various business models are relevant to a new start up business.
For instance, I am going to establish a retail shop. The initial business model is the auction model where the patrons name the cost values of the items and services. If the seller approves the price, the client is expected to agree to the seller's terms.
The other one is the affiliate model where the business proprietors select some agents that assist to sell items or render services and thus, gain a commission. These agents receive meed or recompense for selling out or referring the customers to the business.
The advertising model is the third type where the business is supposed to carry out an advertisement on the product and service available for sell. The publication is sent out on different platforms for the growth of the business like radio, TV, or the internet.
Another business model is the direct sale model. Under this model, goods and products are sold directly to the customers.
The Benefits of the Advertising Model
The best one for my business is the advertising model due to the following reason: advertisement enables the product or service to reach out many by the click of a button. For example, when using online advertisement. The next reason is that advertisement can be carried out on different platforms, including TV and radio owned by many people; hence, a wide coverage. Another reason is cost efficient compared to other business models.
Conclusion
In conclusion, there are different business models depending on the structure and needs of the customer. The advertising model is the best model for a startup business compared to other models due to its wide market coverage.
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