What exactly is an international franchise business opportunity? Definitions vary among different scholars, but boiled down to the bare essentials, a business opportunity exists when: 1) the buyer purchases goods or services that enable him or her to begin a business, 2) the purchase price is more than a certain amount, usually $500, and 3) the seller makes one of several defined representations about the opportunity, such as guaranteeing the program will be profitable; offering to provide assistance in locating accounts, vending machines or other display devices; promising to buy back products that have been assembled or produced by the buyer; or providing a sales program or marketing plan.
No matter the type, size, or location, franchises are one of the very popular international business opportunities. But figuring out which ones are hot and which ones are not can be a challenge. The major benefit of starting a franchised business is that the business model has already been proven. As a result, only 5% of franchises fail in a year compared to the 30% to 35% of non-franchise small businesses. This means that franchises are the most successful way to set up your own business.
Working from home is another most alluring international Business Opportunity of recent times. The power of the Internet lets you conduct international business because your website is available all over the world. The Internet has become the way people do business and has led to many people having their own very successful home business Many people dream about having their own home business in order to escape the hassle of commuting, friction with overbearing bosses and the stress of the corporate workplace. In the good old days, the ideal home business was some kind of mail-order business. However, in today's world an Internet based business offers the best way to gain flexibility and economic independence. One of the best international business opportunities from working from home is by Medical Transcription.
Medical transcription is the act of translating from oral to written form (on paper or electronically) the record of a person's medical history, diagnosis, prognosis, and outcome. Transcriptionists transfer medical voice recordings made by doctors and health professionals into documentation including: operating room reports, autopsy reports, and physical examination documentation. Currently, over 20% of people working in the profession are self-employed. The medical transcription business requires careful execution of health record confidentiality requirements. Any changes in the laws and regulations can affect business profitability. An additional risk is the occupational hazards of computer keyboard work resulting in eyestrain, carpal tunnel syndrome, and wrist or back problems
Fashionable clothing is also one of the most successful international business opportunities available in the business scenario. Smart clothing conjures up images of space age Jetson style apparel. Smarter apparel encompasses the customization of clothing to special markets ranging from performance apparel, sun protection, and aging-friendly clothing. The challenge of entering the smart clothing market is selecting a niche that is not too mainstream allowing bigger competitors to swallow market share before you get established. Conversely, a market too narrow can present problems with attaining break even points and profitability. Success in the smart clothing industry will require the ability to outmaneuver large retailers who influence the apparel business. Selling to select markets (i.e. skateboard shops) and outsourcing the manufacturing process overseas can help to maintain profit margins.
The language translation market has given new avenues in international business opportunities. It is a whole new concept that has been projected to reach $22.7 US billion by the end of 2005 in US alone, according to a report by Allied Business Intelligence. Translation services can cover various areas including: legal translation, commercial translation, technical translation, editing services, language interpretation, and website localization. Becoming a translator can be simple for someone who fluently speaks a foreign tongue. To succeed in this international business opportunity requires business skills of marketing and operations. Also, look to add a level of professionalism by gaining certification. Several potential risks exist in the market. Computerized translation services and voice recognition technology can fill some simple language translation needs. Translators who understand local cultural differences can provide critical insight that a computer cannot. Another risk can be a slow down in global trade. But with the power of the Internet and its high content production demands, the overall risks for translators remains low.
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