What Does it Mean to "Franchise My Business"?
A questions I get often as a franchise lawyer is "what does it mean to franchise my business?". The first thing that you should recognize is that franchising is something that should be viewed as an option, one of many, for the evolutionary growth and development of a business that you've already established.
So if you have a successful business and you're looking for new avenues of growth franchising is one option to consider. And what does it mean to franchise your business? It means you're going to take what you have established and what works for you and makes your business unique and you're going to incorporate it into the legal framework and structure by which you grant third party franchisees the right to copy your business systems, utilize your trademarks, utilize the proprietary components of your products and services, and follow your overall business system. You put this all together and you put it in a system that can be followed by franchisees and that is one major step toward franchising.
I discuss these issues and more in my book The Franchise Formula. Request a free, complimentary copy for a limited time only.
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