Difference Between Traditional and Home Business

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Wherever you go in the world, it seems as if everybody dreams of owning their very-own business. Those that have sufficient financial resources dream of starting traditional businesses; while those with limited ones aim more at running less expensive home businesses. Not everyone will eventually indulge in either but this article will attempt to define the broader lines of both so you could get started on the one that best suits you. a- Traditional Business: A traditional business is an organizational entity which is often thought of as a store, restaurant or agency and is designed to provide consumer goods or services. Traditional businesses are all about huge transactions in order to pay off bills, salaries and also get owners' worth in investment. Some of the major traditional businesses around are Wal-mart, Microsoft and McDonald's. As an owner, traditional businesses may be very profitable; however, it is important to note that about 60% fail early on in the process due to the high fees involved in running and marketing the business brand. A French word meaning frankness and honesty, the concept of franchising rewrote the definition of traditional business. Dating back to the early 1850s, the practice eventually came into worldwide prominence in the early nineties with the growing fast food business. Starting in the U.S. and spreading to the rest of the world, franchise businesses, such as Mcdonald's and Starbucks started booming and proved to be more secure and profitable than entirely new businesses. In return, the parent companies shared a pre-defined percentage of profit from the business franchises. As an employee in a traditional business, the ride is slightly less enjoyable. Your time and salary are managed directly by a supervisor or the human resources department. It is commonly known that most salaries barely keep their beneficiaries

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