Varieties of business models
Before embarking on a new business venture, it is important for entrepreneurs to structure their business according to the specific goals of the company. The business model that an entrepreneur chooses will define several key components of the company. There are four major business models to choose from based on the type of company being created.
- A manufacturing business creates products that are sold to consumers.
- Distributing is the type of business that buys products from a manufacturer and sells them directly to either consumers or other companies
- A retailer sells products that are bought from distributors or manufacturers.
- A franchise can follow any of the previous three models, depending on the company adopted
These four basic business models are flexible and can be integrated with one another. Running a business, though exciting, can also be a daunting task. This is why the attorneys at Adam Pugh are trained to help with the logistics. Call (512) 472-2431 to discuss your situation today.