Becoming A Franchisor
You are 12 months and $200,000 away from selling your first franchise.
You can do it cheap, and do it yourself, and it will take you 24 months and $200,000. But, you will probably lose the whole $200,000. And, you might not sell a franchise.
Scared off? Or, still with me?
Franchising can work. You read about the wildly successful chains in newspapers.
The less successful ones are quietly buried on the back page of the business section in a small article entitled “struggling chain enters bankruptcy after losing suit with franchisees.”
Which one do you want to be?
At our firm we like to do it right. After 20 years representing franchisors (and sometimes franchisees) we have seen the best of times (6,000 unit international chains where executives spend every day trying to improve the business for their franchisees and themselves) and the worst of times (chains where executives acknowledge, “We got into franchising the wrong way for all the wrong reasons—we needed to pay off our debt.”)
The good chains have a proven business concept, a patient expansion strategy, a recognized brand with a registered trademark, and they methodically develop first class business plans and legal documents. We love these clients. They are honest, great to work with, and recognize that the legal fees in a process like this can initially run from $25,000 to $35,000.