The biggest area of turn-key businesses is franchises. There is a franchise for ever industry in the world and they are fairly easy to acquire and come with pre-packaged, easy-to-assemble system. McDonald’s is a prime example. In fact, a 12-figure, 38,000 franchises example. There are a few things we are going to talk about: Business Format Franchise The Franchise Prototype Franchise Prototype Standards Business Format Franchise The business format franchise came from an earlier model call the “trade name” franchise. The big change was in the rights. During the “trade name” days the franchise owner only had marketing rights; now

Today I’m going to talk about the life cycle of a business and how to get the most out of each cycle while also extended the lifespan of your business. The four different stages of a business life cycle are: Infancy Adolescence Growing Pains Maturity We’ll talk a little about what each of these cycle’s means and how they can each help expand your business’ lifespan. Infancy This is generally considered the technician’s phase, which is the owner. At this point, the relationship between the business and the owner is that of a parent and new baby. There is an