Turn to Turnkey Franchise
‘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:
- Gaming websites: Gaming has emerged as the pleasure in leisure for the majority of the 15 to 30- year-olds across the globe. But kids apart, hundreds of millions of consumers use a variety of platforms such as PC games, console games and also handheld games. The worldwide online game market is forecasted to be over $13 billion by 2012. Similarly Indian online gaming zone is also expanding. One of the major players in gaming, taking the franchise route is zapak.com after seeing its online portal’s success has also opened gameplexes for its consumers. Starting small with turnkey package in the online gaming industry is the right foot forward to being a successful entrepreneur.
- Travel portals: With the tremendous increase in travel and tourism industry, the online portals have also come up. Most of the travel companies have launched their online portals to attract the maximum number of travelers. For example Arzoo.com is a full fledged online travel company offering franchisees a turkey business opportunity.
- Shopping portals: Due to a hectic life schedule and work pressure, many people prefer to shop online for their apparels, shoes as well as other home appliances. This has led to the introduction as well as popularity of shopping portals. Pioneering with e-bay, the e-commerce websites have broadened now. Kathak Fashion Mills, ladies ethnic wear player into franchising has also opted for its online portal for retailing its products.
- Internet marketing: It entails offering search engine optimisation services, pay per click advertisement services, website advertising services, article and blog marketing services and much more. Finding a professional turnkey provider to offer legitimate services in such areas is an opportunity that has good demand.
- Job and marriage portals: Most of youth now-a-days search for jobs through online portals. So going in for a franchise of this kind is also a viable option for entrepreneurship. Similarly finding a match has become easier with online matrimonial sites. Shaadi.com, a popular matrimonial site had taken the franchise route after seeing its advantages and has gained a lot of prominence and success.
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.