Franchising grants the buyer/investor the right to use a company’s brand for a certain time period. Franchisees are not direct employees – they have a stake at the existing business and they are active business owners within the franchise system. Franchisees market an existing product or service.
Establishing a strong brand may take years – this is why numerous people prefer to use the already established brand of a franchise instead of trying to set up a new product/service.
In order to establish a franchise, you have to consult an experienced business transaction lawyer.
Franchising a business has numerous benefits, including:
- The option to operate your own business with a certain level of independence
- Association with an already established product, service or/and a brand
- Franchising allows the launch of multiple units simultaneously; this means an opportunity for faster expansion
- Competitive advantage
- Increased buying power as member of the franchise system
- Higher marketing/promotional budget
In order to successfully set up a franchising venture, you should contact an experienced business transaction lawyer. He/she will advise you in the right direction and clarify all ambiguities. For more information, contact us at 305-372-0222, or [email protected]