Call Today: (800) 976-4904
Call Today: (800) 976-4904
Frequently you may hear the term “turn-key” when a franchisor is advertising or promoting a franchise system. You may hear advertisements on the radio promoting the sale of their franchise and encouraging people to buy their turn-key operation.
The implication is that all you need to do is sign a franchise agreement, pay some money and then just “turn the key” to start up your profitable and successful business. They make it sound as simple as buying a fancy car and just starting the engine. Well, this is nonsense and the truth is that when it comes to business and business success, nothing is “turn-key”. Work, thought and planning is always required and no matter how good a franchisor is, as a franchisee you must be prepared to work “smart”. When I say work smart what I am referring to is not physical labor or long hours (actions that I would assume you are prepared to do) but, rather, to focus and work on developing and implementing business and marketing “systems” that will allow your new business to attract, convert and retain new customer. Just providing service is not enough and just “turning a key” and opening your door is certainly not enough.
The Bottom Line. If you are looking for something that is “turn-key” all you need to do is pay a franchise fee, spend some money, open the doors and work “in” your business, then chances are that you are making a big mistake.
So, when you are buying a franchise understand that:
Watch: Support Franchisees Should Expect from Franchisors and Are Royalty Fees Negotiable?
With services to make your growth strategy simple, cost effective, and with a team excited to help you, let’s talk about how we can help grow your brand. Click on the button below or call us at (800) 976-4904.
Are you a franchisor or a part of a franchise sales team? Do you want to learn more about franchise sale compliance and ensure that your sales practices comply with franchise laws and are consistent with best practices? Then this guide is for you. In this guide you’ll learn the... read more
In this guide you’ll learn the basics of franchising, how to franchise your business, and how to win at franchising. We’ll also take a deeper dive into legal requirements for franchising and why they matter, steps to take before and after you launch your franchise, and even some tips on... read more
When considering expanding a business both franchising and licensing are possible options. In this guide, you'll learn the differences of franchising and licensing and understand how each will affect you. read more
With services to make your growth strategy simple, cost effective, and with a team excited to help you, let’s talk about how we can help grow your business.
Fill out the following form and we’ll contact you as soon as possible. To reach our team directly, give us a call at (800) 976-4904.
An attorney client relationship is not established by submitting this initial contact information.
