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Business Opportunities

Franchises are Business Opportunities, but Business Opportunities are not Franchises. Confused? Don't be! Any business opportunity that does not meet the following 3 criteria is NOT a franchise:

1. Use of common trade name.
2. Initial fee or payment to join.
2. Ongoing payments such as royalties.

So, for instance, a business where you buy vending machines and then operate an independently named vending business with no restrictions or direction about where you buy your product is a business opportunity. Or, a business where you buy product from a common supplier or manufacturer but operate an independently named dealership or distributorship is a business opportunity. Add restrictions around using a common trade name or brand and ongoing payments to the company you're affiliated with, however, and you're probably looking at a franchise business.

Another way to think about the difference here, with a franchise you're signing a (typically) long term agreement that includes strict provisions for operating system and brand compliance, initial and ongoing training/support, business operations software, etc. With a business opportunity the ongoing relationship with the corporate entity can vary widely from one opportunity to the next.

Thank you for checking out the Business Opportunity video profiles here at NextBigFranchise.

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