The year is 2019 and the number of businesses that are now online is the highest that it has ever likely been. The ease and convenience of the internet makes it a perfect marketplace for franchises of all varieties, and consumers have taken notice. Some franchises are now exclusively online.
Opening a new business can be a daunting task. The required start up capital can be hard to acquire for anyone who isn’t already a millionaire. Thus the lure of online franchises.
Online franchises are businesses that can be opened exclusively on the internet. The startup money required is significantly less than it would be for opening up a physical store. It is usually less than $25,000 to open an online franchise.
So just how many of the top franchises are online only. The answer is that none of the top franchises are online only. Lower risk yields lower reward, as a general rule. This is not to say that opening up an online business is a bad idea. On the contrary, many of the world’s top businesses are exclusively on the internet.
Amazon is a great example of an internet company that is worth a ton of money. In fact, Amazon has become so rich and powerful that it has put several physical retail companies out of business.
However, Amazon is not a franchise. Its founder Jeff Bezos is the richest man in the world specifically because he owns almost everything related to the company. This has made him a target for those disgruntled by the current wealth dichotomy in the United States.
The point is that if you want to be part of one of the top business franchises currently in operation, then you will have to invest the money and open up a physical store. Fast food chains like McDonald’s and KFC provide great potential business opportunities for those who are interested.
Starting an online franchise is a great idea. Just don’t expect to be rolling in cash anytime soon, because limited overhead also usually results in limited financial gains. Becoming an online entrepreneur is a perfectly good idea in the modern age and it can be leveraged into becoming a very wealthy person.
The key is to take a measured perspective on what is and is not possible in different fields of business. None of the top franchises are based exclusively online because the most profitable online business is done on one’s own. The entire concept of franchises is specifically designed to be used in accordance with physical retail locations.
This should not discourage anyone looking to get into the world of online franchise business. Be smart and choose wisely. If you do these things, the rewards for hard work might surprise you.