The purpose of this study is to develop an analytic framework for O2O business, which is expected to continue to grow. The proposed framework solves the limitations on the usability and purchase decision process in the mobile environment due to the provision of convenient services and the spread of smartphones. We focused on the factors influencing consumers'' online and offline channels such as consumer involvement and transaction costs. This paper presents an opportunity analysis framework of O2O business that focuses on transaction cost and on-off density. As a result, this paper provides propositions and models for future research.