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What does the term ‘turnkey’ mean?
The expression ‘turnkey’means, as the word suggests, that all that the person who receives the benefit of the turnkey proposal has to do is turn the key and start the business. In other words, it envisages that a franchisor or licensor will do everything that is necessary to enable the business to start up. In a franchise context, you would certainly expect the franchisor to provide initial obligations such as supplying the manual, initial training and a launch and promotion programme for the business, as well as quite possibly initial stock, software and advice as to premises. Technically this is not entirely a turnkey franchise because usually franchisees are required to find their own premises and modify them for use as a franchise. Turnkey franchises are often offered for man-and-avan franchises where, effectively, franchisees are given everything, including a fully liveried van and initial stock, to enable them to launch their business. Whenever a turnkey package is not provided in a franchise then the franchisor should do all that is necessary to assist the franchisee to start his business.
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