What does it mean to franchise your business?
- Grow your market share and geographical reach
- Achieve economies of scale
- Receive regular royalty payments
Your business is growing and you are looking for ways to expand. Franchising seems like the logical next step, but where do you start? How do you know you are doing it properly? How do you get the most out of your brand value, while bringing value to those looking to purchase a franchise?
There are so many details to consider when franchising. Launching a franchise without having the right information and strategy can waste an enormous amount of time and money. Let our team show you the right way to launch a franchise—we're here to help with the resources and franchising legal services you need to succeed.
3 Common Mistakes When Starting a Franchise
Avoid these pitfalls with a trusted partner to help guide your business.
While franchising can be an incredible way to grow your business, you need to have the right foundation to sustain the growth. We’ve seen countless businesses start to franchise, only to struggle to maintain the growth. Before you start a franchise, make sure it’s right for you.
There is no cookie-cutter approach to launching a successful franchise. A winning strategy should be customized for each business in order to take advantage of each unique opportunity. Avoid generic strategies when deciding the right way to grow your business.
There is plenty of information available on how to start a franchise. But how do you know that it’s the right information? Building a foundation on misinformation or misdirection can damage your franchise. Take the time to chat with us, and we’ll guide you to franchise success.
Ready to franchise your business but aren't sure where to start?
The 5 Documents You'll Need to Get Started
- Franchise Disclosure Document
- State Disclosure Documentation: Franchise Registration States
- State Disclosure Documentation: Franchise Filing and Notice States
- Operations Manual
- Financial Statements
State Franchise Laws
At the state level, there are various franchise registration, filing, disclosure, and relationship laws that are imposed on franchisors and that vary state by state. States that require FDD registration are known as the franchise registration states and, typically, impose the most stringent franchise laws and regulations. Franchise registration states require annual FDD registration, franchise filing states require either one-time or annual franchise filings, and non-registration states do not require any FDD registration or filings.
Below we include links and information related to the state-specific franchise laws. The Franchise map is interactive and links to state-specific pages that outline the franchise requirements for each state.
This franchise registration map and each state designation assume that your trademarks are registered with the USPTO. If not, laws in CT, NC, SC, GA, LA and ME require franchise registration or filings. See state-specific information below.