The U.S. Franchise industry represents almost 800,000 franchises across 300 business categories nationwide. Over 3,000 parent companies own these franchises, and their rules and regulations differ depending on the requirements of the businesses. So, while many franchises aren’t considered turnkey businesses because of royalties paid to the parent corporation, some franchises release the royalty rule in lieu of a larger investment fee. But since a new franchise opens every eight minutes, and one out of 12 businesses in America is a franchise, it’s likely the right turnkey business for sale may include the safety net of an established brand name for years of professional success. Hide description Read more
The business plan should cover the company's goals in the short- and long-term, its target audience, selling proposition, competitive advantage, organizational structure and marketing strategy. Include financial statements and consider your capital requirements. If you need funding to expand your operations, buy new equipment or update your inventory, determine whether you'll reach out to investors to take out a small business loan.
Let’s say you have a promotions page where you’re promoting a product via affiliate links. If you currently get 5,000 visits/month at a 2% conversion rate, you have 100 referrals. To get to 200 referrals, you can either focus on getting 5,000 more visitors, or simply increasing the conversion rate to 4%. Which sounds easier? Instead of spending months building domain authority with blogging and guest posts to get more organic traffic, you just have to increase the conversion rate by 2%. This can include landing page optimization, testing your calls-to-action, and having a conversion rate optimization strategy in place. By testing and optimizing your site, you’ll get far better results with much less effort.
The concept of affiliate marketing on the Internet was conceived of, put into practice and patented by William J. Tobin, the founder of PC Flowers & Gifts. Launched on the Prodigy Network in 1989, PC Flowers & Gifts remained on the service until 1996. By 1993, PC Flowers & Gifts generated sales in excess of $6 million per year on the Prodigy service. In 1998, PC Flowers and Gifts developed the business model of paying a commission on sales to the Prodigy Network.
Whether you want to buy a franchise or a local business, it's crucial to research the company you're interested in. Try to find out why that particular business is being sold, check its financial reports and make sure it complies with the law and doesn't have any outstanding debt. You also need to research its growth potential, target market and competitors. Beware that its inventory can be inflated or nonexistent, or that its leases may expire soon.
Just to build on the Google theme and the free theme, another favorite tool is Google Search Console, formerly known as Google Webmaster Tools. This is fantastic for looking at and tracking what's going on in the world of organic search or SEO for your website. And the great thing about Google Search Console is that you can connect it with your Google Analytics account now so you can see your top pages and how exactly they're converting (like by top organic performance, etc.).
I'll give you an example. For Single Grain, my digital marketing agency, we have a 1.26% click-through rate on the homepage. The homepage is fairly general and we wanted to figure out how we could drive a higher click-through rate, thereby driving more traffic for the website. We decided to write the headline and the meta description for it – and wound up increasing that 1.26% CTR to 1.76% and, ultimately, driving more traffic (and thus leads, and thus revenue) to the homepage.
For those of you who have just started exploring investment options, why don’t we start with the definition of a turnkey business? TheBalance gave a good one and explained its advantages and downsides. A turnkey business is any business that is already prepared and has been operating for a while, and once you pay for it, you simply continue running it like its previous owner. The phrase “turnkey” is chosen to stress how much time you need to prepare for new customers – you just turn the key to your shop, and it’s open for business.