Identify a disadvantage of a service-based business model.

Choosing "Each opportunity is short-lived" as a disadvantage of a service-based business model captures a fundamental characteristic of how these businesses operate. In many service-based models, transactions are often one-time opportunities. For instance, once a service is rendered, that particular sale is complete, and the client may not require the service again for a significant period, or they may switch to a competitor for future needs. This creates a reliance on constantly acquiring new clients or repeat business from existing clients to ensure steady revenue streams.

This characteristic emphasizes the importance of ongoing marketing and client engagement, as service providers must continuously seek out new opportunities. Additionally, because each service rendered can be considered a discrete transaction, planning for long-term stability and sustained revenue can be challenging.

Other options touch on important aspects but do not directly capture the short-lived nature of individual service transactions in the same way. High initial investment costs generally align more with product-based businesses, while limited service offerings and difficulty in measuring success can vary widely based on the specific business strategy and market.