9 Proven business Models to Consider for Your Startup
by Nina Tomaro
“1. Become The Middleman (AKA The “Warby Parker” Model)
Warby Parker saw huge opportunity in the market, and realized that because most brands sold the rights to huge companies like Luxottica that drastically increased their manufacturing and design costs. So what was the logical solution to this problem? Become the middleman of course!
2. Become A Marketplace
One of the ever growing business models that continues to prove highly effective is becoming a marketplace. This means you are simply bringing supply and demand together. AirBNB reigns as one of the top success stories to implement this business model well.
4. Customized Everything
The fashion industry is dominating the customization trend that aligns with a consumer shift towards more personalized goods that reflects their specific tastes.
5. On-Demand Model
As the world speeds up, consumers have a adopted a preference for instant gratification. The on-demand economy has a growing appetite for greater convenience, speed, and simplicity.
6. The Modernized Direct Sales Model
The startup designs, produces, and markets fashion jewelry, and interested sellers or merchandisers can sign up and create their own online store to sell their jewelry and earn a 30% commission utilizing the startups technology infrastructure.
8. Reverse Auction
This type of model is the reverse of Ebay where the buyers switch roles with the sellers. Buyers who care about price offer bids for a service to the sellers and if the seller accepts the bid, the buyer must agree to all of the seller’s terms and conditions. Sellers benefit from access to a marketplace, while the buyers feel like they are getting a great bargain.”
This article offered a comprehensive list of business models and gave name to many business models I was vaguely aware of but did not have a name for or understand completely.