Business Opportunities In UK: It’s Easy If You Do It Smart
Chances are if you’re reading this, you’re already looking at Business opportunities in UK and if you’re like most people then you’ve probably found your research so far overwhelming!
So what I’d like to do in this article is give you the Pros & Cons of the various opportunities you may have already looked at.
Because it’s my guess at some stage you’ve probably looked at a franchise business opportunity. Am I right?
And what about other business opportunities for sale, like bricks and mortar businesses, such as a café, a drycleaners or a cleaning company?
The simple truth is, there are hundreds of profitable business opportunities to choose from, but as you’d expect some are going to be more profitable than others.
And guess what? Profitability isn’t the only thing you need to take into account. How much start up capital you need and how much time you spend on your business are major factors to consider. Just imagine you’ve finally narrowed your search down to a few business opportunities for sale, and then you make the final decision.
You invest in a business!
Congratulations. You’re now a business owner. Things go really well, but gradually you realise, 6 months or a year later that what you’ve actually done is buy yourself another job. You’re working more hours than you ever did, you have to deal with customers, lawyers, paperwork, local regulations and you don’t have any time left to do the things you thought owning a business would let you do!
So let’s have a look at the pros and cons of each of the business types mentioned above to help you make a better buying decision.
A Franchise Business Opportunity
Here’s what’s great about franchises:
- You’re buying a ready-made business. That one’s pretty obvious isn’t it?
- You’re in business for yourself but not by yourself.
- Franchises are established products so you have the advantage of presold customers, widespread brand recognition and the independence of operating your own business
- Your chances of business success are greatly enhanced because you’re associating with proven products and methods
But here’s the dark side:
- Franchises are expensive. The rock bottom starting price for a franchise is between £5,000 and £10,000, but investments go into tens and even hundreds of thousands.
- You have to market your business according to the restrictions a franchisor places on you in the franchise agreement.
- In addition to your starting costs, you may have to pay ongoing fee’s for administration and advertising
- Other franchisee’s poor performance can drag you down as well
- Bricks & Mortar Business (I.e. a Physical Business)
- Physical businesses are probably the most popular type of profitable business opportunities and here’s why:
- You own and run the business and are your own boss
- You have high credibility as people know you have invested substantial amounts to get started so are likely to be committed to the marketplace
- You get regular repeat customers and can establish your brand in your particular area
- You can scale your business once it takes off, and get new locations, new staff and more revenue
However, there are many disadvantages most people don’t take into consideration:
- You need to stock inventory, and to do that you need to pay for it, so there are large upfront costs
- You need a physical location so have to lease premises and are also bound by local rules and regulations
- Because you have a physical location you are tied geographically to your workplace
- Most physical businesses don’t make any profit for up to 5 years. Can you survive that long without profits?
But, here’s something interesting…
What if you could have the best of both worlds? What if there was a hybrid business model that could take most of the benefits mentioned above and merge them together to create a new business model.
A business model where you don’t have to invest vast amounts of money, where you’re not tied to a physical location and where you don’t need to stock any inventory.
I know, you’re probably sceptical, right?
But have you ever considered starting an online business?
With an online business you use the internet to market products to interested people, anywhere in the world. The products don’t even need to be yours as you can sell other peoples products for very healthy commissions. On average you can sell products online for between 30 and 50% commissions, with some commissions even as high as 100%.
Do you need to be technical?
There are some great digital business systems available that automate all the technical stuff for you. All you need to do is learn how to market online, a skill anyone with no prior knowledge can pick up in a couple of months.
So let’s have a quick look at the pros and cons of an online business:
- You have complete geographical independence and can work from anywhere in the world
- Start-up costs can be from as little as £2000 – £3000. (You also need an advertising budget which you would pay to third party advertisers like Facebook or Google)
- You don’t need to have your own product, or even an idea for a product as you can sell other peoples products
- Profit margins are extraordinarily high because there are no inventory or premise costs.
- Scalability. Once you find a reliable source of leads, it’s very simple to scale your business exponentially
What are the disadvantages?
- Lack of trust from customers. Because your customers will be mostly cold traffic, or you never meet them face to face, you will need to build a relationship with them over time (And note by cold traffic I do NOT mean cold calling!)
- Internet connectivity. You have a risk involved if your website is down for any length of time that you could lose money. Most hosting providers have very reliable servers these days so it is a problem that can be easily mitigated
- Motivation and punctuality. Because you are your own boss, there is no one to guide you or make you stick to your deadlines.
So if you’re looking at business opportunities in UK, then take some time and check out this online business model. The free video training outlines why using the internet is one of the most profitable business opportunities available to you at the moment.
Seriously, put some thought into this.
What other business allows you to work where you want, when you want and with whom you want?
Watch this video series to see how easy an online business can be, that is, if you do it smart!