The Turnkey Business
By Kevin Jamieson
As the recession forces more and more people out of work, many former employees are considering self-employment as the only solution to this very critical problem. Anybody who has recently been laid off or is about to be laid off realizes that the only true form of employment security is self employment. The problem is that many people who have worked for a company or for some other person for a long period of time really don’t understand how to go about starting a business.
This is primarily the reason why franchises were developed. Although a franchise is not a guarantee of success, it certainly stacks the odds in favor of the new entrepreneur. A franchise offers the starting entrepreneur a number of important and significant benefits. The first of course is the intellectual capital that defines how to start and run a successful franchise business. All facets of the operation are not only documented but are taught to the new entrepreneurs by the franchisor. With the infamous standard operating procedural manual in hand, the new entrepreneur can deal with virtually any business situation.
Beyond operations, the franchisor helps the entrepreneur to construct a new facility, to hire and train employees, and then to actually launch the business. Another huge benefit of a franchise situation is that the franchisee benefits from the brand recognition of the franchisor. In smaller franchises this may not be a significant asset, but in the case of huge, internationally recognized brands-such as McDonald’s, Burger King, or Wendy’s to name a few-instantaneous brand recognition is not only vitally important, but extremely valuable financially.
The problem with franchises however is that they typically tend to be expensive-the franchise fee alone can be extremely costly. Any time that you engage in a bricks and mortar business, you can expect a significant startup cost in terms of land and the building, extensive expense for equipment, inventory, and the training of new employees. On top of all this, starting a bricks and mortar business during a recession, even if it is a franchise, significantly increases the risk.
Anyone considering a franchise but with limited capital might instead consider launching an online network marketing business. There are companies on the Internet today that offer turnkey, packaged solutions for the online marketer that will help them launch their business quickly and efficiently. It’s almost like buying a franchise online, but at a fraction of the cost of the bricks and mortar world. If you are thinking about self-employment this is clearly an option that you should consider.
Kevin Jamieson is a business coach and mentor that assists serious entrepreneurs in building a profitable online business with multiple incomes streams. Kevin and his team have assisted hundreds of people in generating profits that exceed $250K or more in their first year. For more information and to contact Kevin, visit http://www.retireinoneyearplan.com
Article Source: http://EzineArticles.com/?expert=Kevin_Jamieson
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