Turnkey Business Opportunity

Turnkey business opportunities can be a great venture for someone who is interested in running their own business but does not want to do the work that comes with planning and starting a company from the ground up. The good thing about turnkey is that the company is ready to go, and may be a name or product that is already very familiar to people. A turnkey business opportunity, however, can involve a very expensive initial investment. By definition, this type of endeavor is one where the management of a firm is in charge of the planning and execution of all strategy. The client, or the one who buys the operation, has only to "turn the key" for the operation to begin. Many franchises are created this way. With this type of company, such as a franchise, the building is built to specifications that match the others of the same company, the marketing territory is already picked out, and the plan and methods are tried and true.

These endeavors can involve tangible and intangible products. Some turnkey business opportunities offering tangible products may include restaurants or other food franchises. Cleaning, dog training, computer troubleshooting or personal fitness training may be possible companies that offer services rather than a tangible product. Also, many of these types can be run as home based. There are advantages and disadvantages that need to be weighed if considering a turnkey business opportunity. They offer the advantages of helping with business start-up, training and marketing. Most offer name recognition because they are part of a greater network of businesses as opposed to an independent store. Furthermore, turnkey business opportunities have higher success rates than others, as they boast an 80% survival rate. Some disadvantages that may be considered include having to run an organization the way the parent company requires, potentially paying ongoing fees or royalties to the parent and the initial cost of buying. While everything is provided for an entrepreneur to get the company up and running, a high initial investment is almost always required. "Let your conversation be without covetousness; and be content with such things as ye have: for he hath said, I will never leave thee, not forsake thee" (Hebrews 13:5).

If interested in pursuing a turnkey business opportunity, it is best to find a company that reflects the buyer's interests and abilities, as well as their values. Take time to interview the potential company, including getting a list from them of others who have previously bought into the company. Find out what training is offered, if there is a minimum sales quota or ongoing fees or royalties, and what the total cost of the endeavor will be. A turnkey business opportunity can help an entrepreneur get up and running without having to spend much of the time planning or marketing the business. However, because buyers will potentially be investing a lot of money in this opportunity, researching carefully and aligning with a product or service that one can be proud to stand behind is wise.

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