Franchise Requirements
Thinking of expanding your business?
|
If you are looking to expand your business, one of the first
things that you need to consider is whether franchising is the
appropriate method for you. Our FAQs
among other things, will give you a better understanding of the
following:
|
- What is
franchising?
- Types of
franchising?
- The advantages
and disadvantages of franchising.
- How is
franchising different to other third party relationships?
- How can a
business be franchised?
- Structuring a
franchise.
Are you considering the franchise option?
If you are considering the franchise option, follow stages 1 and
2 below to check whether you can franchise your business, and if
so, to choose the appropriate franchise structure for your
business.
Stage 1 - Can you franchise your business?
In order to franchise your business, the following core elements
must be present:
- You wish to expand your business
- You have a business format which can be
replicated
- You have definable know how i.e. a distinct way
of doing things that distinguishes your business format to that of
another
- You have branding (e.g. trade marks, logos,
trade names etc.) which is distinct to your business and which can
be licensed to others in conjunction with the business format.
As you and your business prepare to franchise, it is important
that the business format, the know how and the brand are correctly
protected and documented. We can assist with this to help reduce and manage your
risks.
Stage 2 - Which Franchise Structure Suits Your Business?
If the core elements detailed in Stage 1 above are present and
if you decide that franchising may be an appropriate vehicle for
expanding your business, then the next issue that you will need to
consider is: which franchise structure is suitable for your
business?
Whether you are looking to expand your business in the UK or
internationally, the questions and advice below will offer you some
basic guidance as to which structure you should consider adopting.
You should bear in mind that there is nothing to stop you from
adopting different structures in different regions/countries. In
fact, within certain parameters it is advisable to adopt the most
appropriate structure for each particular region/country based on
your strategies and the legal and commercial framework within such
region/country.
If the questions and advice in this section do not give you the
answer that you are looking for, or if you do not have an existing
business, but are looking to develop a new product/service, please
do not hesitate to contact us to discuss your options.