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Franchisee: Hit the Ground Running With a Proven Business Concept
Franchise opportunities let you go into business for yourself, but not by yourself. Compared to starting a business from scratch, that's a huge advantage. Choosing a high-quality franchise opportunity allows you to take advantage of a proven business strategy. While many new businesses struggle to develop a viable and profitable business plan, many franchises have already proven that they are capable of profitability. Franchises provide new business owners with training and a built-in support system – a safety net to assist them in building a business they can be proud of.
Franchisor: Franchising As A Vehicle for Rapid Growth.
If your business has a proven track record of success, franchising can serve as a vehicle for rapid growth. Company-owned expansion from the pilot through to national coverage will rarely achieve completion as quickly as franchising. This is because a franchisor will not need to build up huge staff and premises costs - rather the franchisor's capital can be committed to developing a small central organization with a few highly skilled staff. By doing this the franchisor cuts overheads and, unencumbered by staffing and administration issues, can focus more time on developing the business. By speeding up expansion the business network achieves higher economies of scale earlier, stronger brand awareness, is much sooner able to challenge for national contracts and, in the case of a fledgling market, is in a much better position to capture early market leadership and establish a dominant position over its non-franchising competitors.
We offer a variety of forms, prepared by highly qualified attorneys that can help you create, manage or terminate a business franchise relationship.
Franchise Frequently Asked Questions
Recent Developments in Franchise Law