SBOMag:
Thinking of starting your own business this year, but don’t want to launch a business completely from scratch? Then consider a business opportunity often referred to as a turnkey business. With a business opportunity package you are purchasing a system of doing business that often comes with an instructional manual or a video. There are no royalties to pay but there are often no support or follow-up opportunities.
Business opportunity packages are greatly distinguished from franchises. With a franchise, you are getting involved in a long term relationship with a franchisee. You are purchasing their signage, logos, uniforms, and systems of doing business. There is no originality that you can bring to the business. You must support the proven franchised system of doing business.
There are fundamental differences between a business opportunity and a franchise. A franchised business is based on a proven method of doing business. Most often, franchised businesses are ‘look-a-like’ businesses, meaning that signage, outfits, offerings, menu, vans, logos etc. are identical. When you pay the franchise fee, you are purchasing the rights to use these clearly identified logos and business symbols from that particular franchise corporation.
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