The Internicola Law Firm, P.C.

Is Franchising a Good Idea?

There are many benefits and drawbacks to becoming a franchisor. This is a life-changing career move and it's important that you enter this business decision with your eyes wide open. It helps to begin with a basic understanding of the roles and responsibilities that all parties play in a franchise. To learn more about franchisor's responsibilities, visit our article library.

It goes without saying that opening a business requires initiative. Franchising in particular requires untold amounts of hard work, business skill, attention to detail and dedication. By weighing the advantages and disadvantages of becoming a franchisor and of franchises in general, you can better determine if this is a role you would like to assume.

Some of the advantages to franchising include: 

• Franchisees will be attracted to a quick way to start up a business;
• A franchised company's name and marketing develop a track record;
• Products and concepts are readily available for the franchisee;
• Franchisors have the possibility of endless royalties; and
• Franchisees are attracted with the promise of receiving all the training and help needed to make a franchise a success 

As with anything, there are also disadvantages which may include: 

• The risk that the franchisee will fail to meet their obligations;
• Your financial success rides on the success of your individual franchises; and
• Being a franchisor is not a hands-off business venture - you will be required to supervise individual franchises to a certain degree.  

All of these things need to be taken into consideration to determine if becoming a franchisor is a good fit for you. A New York business lawyer can talk to you about the various legal and financial implications of becoming a franchisor.

For a limited time, get this FREE book on franchising your business The Revised Franchise Formula: A Guide to Franchising your Business in the New Economy. Offering expert help in New York, New Jersey and nationwide, business and franchise attorney Charles N. Internicola is ready to answer your questions about franchise, national and international trademarks, and any critical business matters that may arise. Contact us today - 1-800-976-4904