Franchising can not only strengthen the brand and reach of a company, but it can also act as a very good method of securing its future.
However, a number of considerations need to be taken into account when deciding if franchising your business is the right move and a lot of work to needs to be done before a business can be developed into a successful franchising operation.
Franchising is a model used to replicate a successful and proven business, using the investment and skills of entrepreneurs and individual who want to set up in business. The franchisees are trained and supported to run the business under the terms of the franchise agreement (add link to franchise agreements).
Franchising encompasses a variety of business types and exists right across the consumer market. It is well established as a respected and workable business model, which is why most major brands have franchises that exist across the globe.
To franchise a business is not something that can be done without a lot of thought. Your business needs to have already proved that it is a success – people buying into your business will only do so if they have confidence in your brand and products.. The business model will also need to be able to run across multiple locations, using the same system, brand and quality. You then need to make sure it is protected, by ensuring you have all the correct documents to secure your brand with the appropriate legal advice. At The Law Department, we can assist you in drafting all of the legal documents necessary to guide you through successfully franchising your business. Please take a look at the following sections for more information:
- Setting up a Franchise
- Advantages of franchising your business
- Disadvantages of franchising your business
- Franchising your brand
- Franchise agreements
- Franchise disputes
If you require more information, or if you are a Franchisor with a franchising query, please click here to get in touch with our franchising legal team.