What are the different types of business models?

There are several different types of business models that companies can adopt, depending on their industry and objectives. The traditional business model involves selling products or services directly to consumers. Another common model is the subscription-based model, where customers pay a recurring fee for access to a product or service. The freemium model offers a basic product or service for free and charges for additional features or a premium version. The marketplace model connects buyers and sellers on a platform and earns revenue through transaction fees. Franchise and licensing models allow businesses to expand by granting others the rights to operate under their brand. Finally, the advertising model generates revenue by selling advertising space or sponsored content. Each of these models has its own unique advantages and challenges, and businesses must carefully choose the one that aligns with their goals and target market.

This mind map was published on 4 October 2023 and has been viewed 91 times.