BANGALORE: The business model that a startup is built around has plays a very crucial role to in the company’s success or failure. A strong and fool proof plan can be the best asset for any budding firm venturing to any given vertical. Selling the product at the lowest margin by targeting a huge market or a franchise business model are some of those that can attract more customers. Read on to know more about the best business models that can take startups to great success, as compiled by entrepreneur.

Reduce price to gain high market share and profit later

An amazing way to gain traction in the market is through offering products at the cheapest price available. In this model, one has to target a huge market and will have to think down the lane and plan for the future. The cheap price offering will help the startup to gain more market share. As the business flourishes, one can expand the product lines and negotiate on the discounts and margins. Even though this business model will not deliver any instant result, it can provide a stable and continuous result later.