If you are a business aspirant exploring a business opportunity with no prior experience and want quick results, then turnkey franchising is the best option for you. Read on to know more about turnkey franchising....
‘Turnkey’ business stands for a business that carries a complete package required to start a business. A business that is being sold as a turnkey business includes tangibles such as stock and apparatus through intangibles such as a previously established reputation and goodwill. The most popular businesses sold as a turnkey business is a franchise business.
In a turnkey package, it is the franchisor’s duty to deal with the site identification, signing the lease, instating inventory and equipments for business initiation, renovation of the outlet, recruiting and training the staff of franchisees etc. It is well known that a franchise is preferred to an individual business because the former has established a reputation, goodwill, good customer base etc, which lacks in an independent business. However a turnkey business further adds to a franchise by including all the inventory, equipments etc in running the franchise. Consequently the complete package makes it much easier for franchisees, whether experienced or inexperienced to taste success.
Internet based franchise ‘turnkey’ businesses
The maximum turnkey franchise opportunities exist in the realm of internet businesses. Increased dependability on internet for official as well as personal chores has led to the popularity of internet based businesses to a great extent. Also the web based businesses have the advantage of offering turnkey packages to its franchisees. Turnkey franchises can be a viable option for mostly the web based businesses. This is because web businesses need less infrastructure and equipments as compared with other products and service franchising, in which services/ products are offered in the outlets only. In all such opportunities, the franchisor offers fully functional websites and internet marketing to the franchisees instead of a fully functional brick store and traditional marketing.
The most popular turnkey internet business opportunities include:
This does not mean that turnkey packages can only be present in web based businesses. These can also be included in other product/service franchises but it requires the franchisor to provide everything to the franchisee on a platter. Similarly for the franchisee, the initial investment would be very high as compared to a traditional franchise. So aspiring entrepreneurs here is an opportunity for you to start a business which is almost handy for you in shape of turnkey franchise business.