A Personalized Schedule

Oftentimes, people who have purchased a turnkey business have done so specifically because of the desire to escape the bonds of a nine-to-five workday. In a turnkey business, the owner has the freedom to work any time of the day or night, and is responsible for deciding his or her own hours.

With no imposed schedule restrictions, the owner-manager is able to work at the times of day which are best-suited to his or her needs. Of course, certain restrictions exist for particular turnkey business endeavors. At franchise businesses, for example, the owner must be at work at specific times of the day to ensure quality control and other such aspects of the business. However, for many other types of turnkey businesses, the owner-manager can work at any time or from any place, improving the business as he or she deems fit.

For the self-motivated entrepreneur, having a personalized schedule can be one of the most exciting aspects to owning a small business. However, in thinking about the time and schedule aspect of a new business, potential turnkey business owners should carefully consider their time management skills. Small business hours can be so radically different from mainstream workdays, it is important to remember to set a schedule.

With a little commitment and dedication to time management, new turnkey business owners will be able to ensure the consistent quality of their new business operations.

Reaping the Rewards of Self Employment

With a turnkey business, as with every small business endeavor, there are none of the complex bureaucracies and hierarchies that exist in large corporations. Self-employment and small business settings circumvent these complex, confusing, and often problematical working relationships.

A small turnkey business is often called an owner-managed industry, wherein the new business owner serves as the company’s manager, as well. In owner-managed industries, the owner is responsible for the hiring and firing of employees, general improvement of the workplace, continual development of products and services, and any of the countless jobs that managing a small business entails.

For people who do not function well under the auspices of monolithic corporations, a turnkey business is a wonderful opportunity to reap the rewards of self-employment and exercise genuine initiative, enterprise, and responsibility.

Turnkey Businesses- A Wealth of Advantages

For the many people who have always had the hope of opening up a small business, the turnkey business sector can be an effective and realistic way to achieve these dreams. Even for those who have not previously seen themselves as small business owners, turnkey businesses offer a wealth of advantages. The turnkey business sector offers an individualized timetable, money-making opportunities, as well as having the added benefit of providing feelings of self-actualization for the newly initiated business owner.

This next section will outline some of these reasons and explain why so many people are taking a new look at turnkey companies.

Home Business Entrepreneurs

The turnkey business industry has opened up new fields to those entrepreneurs with an inclination to open a home business, and because the learning curve for opening a turnkey company is less steep than starting a company from the ground up, success stories are frequent and widespread. In any business venture, there are many upsides and downsides, and although purchasing a business can sometimes reveal any number of hidden dangers, the possible benefits to a turnkey business venture often far outweigh the negatives.

The turnkey business industry is one with very few barriers to entry, and as such, it is a section of the business world in which almost anyone can become involved. By committing to a turnkey business in place of a business that must be started from the ground up, many of the uncertainties and pitfalls of home-based entrepreneurship can be avoided. Moreover, many of the most successful turnkey business owners do not hold any advanced degrees and have never attended any prestigious schools. With only a small amount of capital, some serious determination, and the willingness to give a daily commitment of time to the new business, anyone can be a part of the turnkey business industry.

Of course, it does take skill and patience to run a turnkey business. Dedication, commitment, and a vision for success are all necessary to the operation of a thriving business. The next chapter will discuss in more detail the qualities that a turnkey business owner should incorporate into his or her business mindset.

Buying Into Success: Purchasing an Established Business

For many years, working from home was only an option for those involved in niche markets, and was not an alternative that a many people could choose. Historically, home-based businesses represented only a small portion of the population, and even for those lucky few, only those companies that worked with the most innovative products and ideas survived.

Home businesses have changed greatly in recent years, and they now span a vast array of goods and services. From independent transcription companies to small confectioners, data entry tasks to e-goods vendors, home-based companies are now a part of almost every small business field. Some statistics put the number of small businesses that are run out of the owner’s home at more than fifty percent. Building from the ground up, owner-managers of independent companies with enough drive have changed the landscape of small business.

In recent years, the number of people who work from home has skyrocketed. Internet businesses and cottage industries are allowing home-based companies to become a major market force. While there remains an abundance of the traditional type of home-based entrepreneur, the prohibitive cost and enormous energy outlay necessary to running a home business has become a thing of the past. No longer is working from home restricted to only those with bottomless financial and energy resources.

The Re-sell Site

The resale industry has the potential to be extremely lucrative and used correctly, the principles of resale can be applied to almost all of the aforementioned site types.

The difference between the aforementioned sites and the resell site is that the resell site focuses on the resell rights attached to each product, rather than on the product itself. In marketing the idea of resell to fellow internet entrepreneurs and not to regular customers, there is serious profit potential

In the e-book example above, the resale paradigm can be applied for higher profit margins. If purchasing a turnkey business, e-books that are attached to the company have already been written and are part of the business deal. In buying the turnkey business, the purchaser is also buying the rights to resell the e-books. Subsequently, selling not just the item but the idea that the customer may also resell the item becomes an exciting marketing technique.

In the example of a website turnkey business, the owner of the business might create a site wherein several products are marketed concurrently. Not only are the products for sale, but the right to resell the products are also for sale. In this way, the owner of the website becomes a supplier, and allows for a high profit potential.

Returning to the turnkey paradigm, a resell website, or a site that is meant for selling products with resell rights, can also be purchased as a turnkey business. In a majority of the cases of turnkey resell businesses, resell products are included with the transaction of the business.

The E-Book Site

Large publishing houses have long been wary of the internet, and there is a concern that traditional publishers will become obsolete within the next few years. Indeed, even while the large publishing houses have been rather unsuccessful in terms of Internet marketing, they have also been rather cautious about distributing the latest fiction titles in e-book format. In so doing, major publishers are missing out on a serious revenue opportunity.

e-book sites obtain revenue through selling online books on a vast range of topics. One of the most basic ways to profit off of the e-book boom is to buy a set number of electronic books, set up a website, and then finally sell the books online. However, even simpler methods of profiting from e-books exist.

A turnkey business version of the e-book industry would mean initially quicker profits, and ultimately less work for a potential business owner. A pre-made e-book site has no time lag for development, marketing, stocking, or any of the other issues that come with starting a website from nothing. Through the same paradigm as all other turnkey businesses, the prospective buyer pays money up front, then uses the ready-made site for business and profit.

The Adsense Site

Google Adsense is a prominent online marketing and money-making method. From business owners to end users, almost everyone has heard about the system wherein the Google Adsense program matches relevant ads to the content of a site, and then pays the owner of the website when visitors click the links.

Owners of a website can register for AdSense and therefore allow advertisements – text, image, and video – on their sites. Google manages the advertisements, paying the website owner per click. However, though Google once had the market cornered, Yahoo has recently come out with their Yahoo! Publisher Network, an equivalent service. Both options are full of possibilities.

For many online users, these ads can be intrusive and irrelevant. However, if used correctly within the context of a website, Adsense ads, as well as ads from any similar programs, can keep visitors to a website up-to-date with relevant links and products, and it can encourage increased ad revenue. Once Adsense or Yahoo! Publisher Network is set up, necessary upkeep is minimal. With Adsense or any similar program installed on a website, every time a visitor goes to a page with an ad on it, the ad will appear as a link to a relevant website or product. For sites containing keywords relating to dogs, the ads may appear as dog leash companies or dog food companies, while for sites containing keywords relating to flowers, the ads may appear as floral arrangements or flower deliver service companies, and the like. Each time visitors to the website click these relavant links, the website owner receives cash.

Ad revenue is the definitive turnkey business, and one of the best ways to make money online with minimal maintenance.

The Auction Site

eBay has become incredibly popular over the last decade. Though many people have personal experiences with the site, and almost everyone has heard of how considerable amounts of money can be made through the eBay auction system, very few people know that eBay is actually a form of turnkey business. eBay now offers many business features that allow users to set up and run their own company.

Thought the tools to set up and run an independent eBay-related company is undoubtedly an exciting opportunity, natural questions arise about product, advertising, and even basic business setup. These are just a few of the serious questions that prospective business owners must consider and eventually deal with. An effective method of dealing with these issues is to interface with one of the many websites have been developed to help anyone create an individually-owned eBay business. From templates to site hosting to suggestions about and inventory of possible products for resale, sites like entrepreneur.com and startupnation.com are valuable repositories of information for starting an eBay business.

With proper preparation and a little research, an eBay-based turnkey business opportunity could be up and running in very little time.

The Affiliate Site

An Affiliate Site in an Internet location that links to the website of a merchant. Affiliate programs, which are sometimes known as associate programs, are agreements wherein online merchants pay a commission to websites that send traffic their way. Simply put, an affiliate business makes money off of someone else’s product by supplying customers.

Each item that is sold because of an affiliate website earns the owner of the affiliate website a percentage of the profits. Because affiliate programs are often paid according to how much traffic comes from the directing site, once the affiliate site is set up there is minimal maintenance work necessary. Additionally, there are no marketing campaigns or product development with which to deal, so only occasional upkeep is required.

Even though it is possible to “build” a site for an affiliate business, there are numerous companies online that sell ready-made templates and materials to help the would-be entrepreneur get started with an affiliate business immediately. Starting an affiliate site turnkey business is a comparatively straightforward matter of signing up for an affiliate program through a business.

Many online turnkey businesses utilize these affiliate programs in order to produce quick profits without a lot of maintenance, but it is important to remember that affiliate programs are most effective when the affiliate agreement is with a company whose products or services match the needs of the affiliate website readers. Increased interest in the affiliate’s products means increased traffic to the affiliate site. With a thorough knowledge of website traffic, the choice of what associate programs in which to participate should be clear. Choosing products or companies that are interesting to an affiliate site’s readers increases profits from crossover website traffic.

The Internet Start-up Business Model

For many people, the Internet has proven to be a radical paradigm shift in how information, communication, and entertainment is distributed and used. For the entrepreneurial spirit, the internet has also been revolutionary.

From online auctions and sales to sites that help foster business connections, the Internet has proven itself to be the most important transformation in how money is made from home. It is only natural, then, that the turnkey business sector has branched out from franchises and has entered into the online world.

Though in the past, working from home meant that the home-based entrepreneur had either a unique skill or a job with a very broadminded company. Today, though, the internet has opened up the world of home-based businesses. In particular, turnkey businesses that are based online are more accessible today than ever before.

The following are some of the types of online businesses that are well-suited to the turnkey business sector.

Franchise Situations

These cases, wherein a franchise branch is for sale, are ideal situations for those hoping to purchase a turnkey business. Though a thorough inspection, sometimes called due diligence and discussed later in this book, is necessary, a purchased franchise branch can oftentimes become both successful and profitable. There are a number of incredibly positive aspects to purchasing a franchise that is already operating. Not only is the location already scouted and decided, but there is a ready inventory, staff, customer base, and business model, as well.

Purchasing a franchise forgoes the worry of product development and marketing, and is one potentially profitable way to open an individually-managed small business. Name recognition for the company has already been built up, and in an ideal case, the business brand is both prominent and of good quality.

Because the parent company takes over many of the tasks that would normally be the responsibility of the local business owner, the workload is lighter and the start-up outlay minimal. However, the duties of the owner remain in every way as important as a non-franchised business. Franchise owners must still run the franchise to the best of their ability, hire and fire employees, ensure customer satisfaction, and maintain overall quality. While purchasing a franchise does alleviate some of the problems of starting a small business, the running of the company remains a mostly untouched responsibility.

The Franchise Business Model

The most common turnkey business has long been the franchise. A franchise is a business that is a kind of replica of another business, and is often called a chain or a retail chain. The franchisor, or parent company, owns the main business but has outlined a method for duplicating its business model.

Though the parent company owns the franchise, that same parent company sells the rights to start a branch of the business in another location. The business model has been developed and tested by the parent company, and by signing a contract and agreeing to follow the parent company’s formula, anyone who cares to invest in a new location can run the franchise.

Because franchises are based on a standardized way of doing business, branches will oftentimes receive marketing materials and bulk-bought stock from the main branch. This not only lowers costs for the individual store owner, but it helps in keeping each branch consistent with the next. Other perquisites sometimes include centralized support system that includes national advertising, a developed training program.

Though this type of turnkey business has been popular for years, a more recent development is in the attractiveness of franchises that are themselves for sale. Franchise owners who have worked under the auspices of the parent corporation for a period of time but have decided to leave must sell their individual franchise location.

Turnkey Businesses- A Multitude of Options

A turnkey business is one that is ready to be taken over almost immediately by a new owner. Many of the turnkey businesses for sale are strategically positioned to turn a serious profit for the new owner, provided that the business is a good match for the purchaser.

Information on how to select the appropriate turnkey industry to match individual needs is not widely disseminated. The selection process itself is made even more challenging because of the vastly different types of turnkey businesses that exist. What follows is a discussion of the individual types of turnkey businesses. A complete understanding of each separate business field will make the process of selecting a suitable turnkey business that much clearer.

Defining "Turnkey"

New and unfamiliar terms can be intimidating, and even more importantly, specialized jargon can often prevent those unfamiliar with it from experiencing new and exciting opportunities. Anxiety about feeling unprepared or uneducated makes many people stop before they even begin, and nowhere is this pressure more palpable than in the field of business. Specialized terminology and language is a prerequisite for dealing effectively in business situations, and because of this, it is vital to have a clear and precise understanding of what turnkey means in the context of a business setting.

The word turnkey comes from the idea that the business in question is already completely set up. The buyer need only “turn the key” to the company door to begin operation. Purchasing a turnkey business is not the same as buying a business model or a plan for a company. Rather, purchasing a turnkey business means buying the building or office in which the company is located, purchasing the inventory, stock, product, and even the reputation that has been built up by the company’s previous owners.

Generally speaking, there are no licenses, permits, or registrations necessary, and no further tasks to finish when purchasing a turnkey company, and in many cases, the business will not even stop running for the change of ownership. As a buyer, simply “turning the key” is all that is necessary from the moment the essential papers are signed.

There is much more to the turnkey industry, however, than a definition. Though the previous definition is applicable to all types of turnkey industries, there are various categories of turnkey businesses.

The Turnkey Business Sector

Owning a small business can be one of the most rewarding and challenging experiences a person can have, and many aspire to one day run a small company. Despite the fact that so many people would like to run their own business, the prospect of establishing a company from nothing can be considerably overwhelming.

Starting a business means dealing with matters of start-up costs, legal and accounting bills, remodeling, initial inventory, product development, and brand image, among a host of other issues. For those entrepreneurs who are interested in starting a small business but are uncertain at the prospect of the numerous details involved with start-ups, a turnkey business can be an ideal fit for their needs. These ready-made businesses have tremendous profit potential, and in the hands of the right individuals, will grow and prosper.

Knowing the ins and outs of how a Turnkey business works is one of the most important steps to acquiring a company with a high potential for success. Knowledge instills confidence, and with the essentials presented here, any potential business owner will garner the necessary skills to become professional, well-informed, and ready to enter the turnkey industry.

Before delving into the specifics of turnkey businesses, it is necessary to become familiar with some definitions. These terms are the indispensable to a complete understanding of the turnkey industry. Learning the vocabulary and information presented in the next section will be the gateway to learning and talking about turnkey businesses.

What Does it Mean to Buy a Turnkey Business?

Buying a turnkey business means purchasing a business that has already been established. It sounds simple, and while it is vastly less complicated than starting a business from point zero, there are quite a few issues that call for some serious reflection on the part of the would-be business owner.

This book contains a discussion of all you need to know in order to locate, select, investigate, and finally, purchase a turnkey business. For the business-minded reader, knowing what is in store beforehand will not only help in the process of setting up your new business, it will help you to make a profit through a satisfying career move, as well.

Within these chapters, you will become familiar with the opportunities available to you – you will find out the specifics of the turnkey business sector, the benefits and pitfalls that may await you, and even some tips to consider when investigating your potential future company.

Combining your entrepreneurial spirit with the knowledge contained in this book, success is just around the corner!

An Introduction for the Small Business Entrepreneur

The decision to start a business can happen in an instant or it can be the result of years of careful thought and consideration. Though finally making such a momentous choice can be at once freeing and exciting, opening your own business involves a serious commitment and requires a person with the necessary drive to get things done. For the successful entrepreneur, the hopes and dreams that have led to the decision to open a small business do not obscure the reality that starting a business is truly hard work.

Because establishing a business from nothing is such a challenging undertaking, for those who would like their own business without the hassles accompanying development from the ground up, buying a turnkey business can be an excellent decision. While the following chapters will go into more detail explaining the ins and outs of the turnkey industry, in simple terms, a turnkey business is a company that has already been created, and in many cases, it is a business that has been up and running for quite some time.