1. Replication Business Models

Replication business models are strategies where successful businesses copy or adapt a proven concept in new locations or markets. Think of it like a franchise: a restaurant that has a winning formula opens new branches in different cities. The key is taking an existing idea that works well and applying it elsewhere, leveraging the established brand and operational strategies. This approach helps minimize risk since the business has a model that is already successful, allowing entrepreneurs to focus on execution rather than innovating from scratch. Examples include fast food chains, retail stores, and service providers.