Types of Business

Ideas on how to start a business

If you are starting a business or a start up for first time then you should have the basic knowledge and also you should know the basic principles of business. So, that you will get success on your plan.
To do business first we should know what is business, how to do, what are the types, and many more. So, now before wasting time let's start.

What is business

In Simple way "Business means to buy something again and again and sell it with profit". Let me explain it to you.

Let's take an example of a mobile retailer. they buy mobile from the distributor with less price and sell it with good profit margin. eg. a retail price of a mobile is Rs.10k they bayed it for Rs.8k from the distributor and sell it to the customer for Rs.10k with a profit margin of Rs.2k. after that they repeat the process again and again.

There are many things and many ways to start a business. like, start your business as a retailer, distributor, and even you can make your own product!!. and don't worry about the selling of it!!. There are many ways to market your product. like you can put your product on e-commerce sites like amazon, flipkart, and many more. they'll take a little commission of it.

Now lets talk about the types of business.

There are Four Types Of Business :-

  • Traditional Business
  • Salesman Business
  • Franchise Business
  • Direct Selling Business

1. Traditional Business{Generation to generation Business}

-Traditional business means a business which has been started by your father, grand father, or even before that. and now you have to get yourself in it and further going on. eg. a restaurant which your grand father had started after that your father took that place and now you have to get yourself in it.
Factors are responsible;
  • Re Investment
  • Bit More Man power
  • Limited Resources
  • Risk Factor

2. Salesman Business{Door To Door Selling}

- In this Business you have to sell your product door to door to your customers. just like a salesman. like if you are a business owner and your products are like cosmetics, accessories, etc. and you have to sell you product to your local customers. then you have to hire some salesman's who will go door to door of the customers and sell your product for which you have to pay a little amount per product to that salesman.
Factors are responsible;
  • Man power
  • Heavy Risk
  • Big Market
-you need man power which is your salesman. heavy risk like, if your salesman runaway with the product which you gave him for selling. then you will face a huge loss. and also you need big market for it.

3. Franchise Business{Business By other Brand Name}

-  Franchise Business means to do business by other brand or company name, for a limited time period. like you all heard about KFC, Bike or Car Showrooms in your area. they are not made by the Company or Brand, they are made by the Franchise owner's of it. The Franchise owner's get Three things from the Company to start their business:-
  • License
  • Stock
  • System
In this business the franchise owner's will need to get all these three things from the company to start their business. Means you need a license for a limited time period, which is in between 5 to 10 years. after that you have to renew the License to do further business. The company will also give you the stock and system to start your business.
Factors are responsible;
  • Security Money
  • Big Market
  • Man Power
- If you want to start this business you First need to get the License From The Company for which you need to give them a Security Money which is in "Crores". By this they will give you License, Stock and System. Majorly if your business will run good. Then, after your License validity they will not renew your license, They'll freeze your license. In fact they will open their own sub branch on that location. But till that time period you will make good money from it.

Now what about another business?? yes its...

4. Direct Selling Business

-This is the easiest and high profitable business from all of the above business. In this business you need:-
  • "0" Investment
  • Less Man Power
  • No need big market
- In this business you need "0" investment means you don't have to invest any amount for License,System & etc. But you may need a very little amount for the stocks, because no company will give you their products free to you.

- In this business the company will provide everything you need to start your business and to run it successfully. In this business you are getting:-
  • License
  • Stock
  • System
  • Authority
  • Nominee
- In this business company will not renew you license, It means that you are getting the license for lifetime for free without depositing any security money. Also you are getting stock, system, authority and a nominee. Authority means "you". you will be the authority of your own business, and Nominee means your "love ones", means if you don't want further to do it by yourself, then your nominee can run the business from that place where you leave.

- To know about the Future of Direct Selling in India click here.....

- If you want to build a career in Direct Selling you can directly Contact us at (info@waanao.com) !!

So, these are the types of business, now it's your choice which business you are getting in.


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