How to Franchise Your Business [7 Steps]

April 10, 2022 Off By MMORex



If you are considering franchising your business, here are the steps to take and how to do it. In this video franchise lawyer, Charles N. Internicola, Esq. goes into the steps to franchising a business and explains the basics of what you need to know.

TOPICS:
00:00 How to Franchise a Business Intro
01:09 The Basics: What is Franchising?
02:53 The Economics
03:27 Advantages of Franchising Compared to Organic Growth
6:01 How Long it Will Take to Franchise Your Business
7:15 What Does Winning Look Like?

The Steps to Franchising a Business:
10:39 Step 1: Creating The Franchise Disclosure Document (FDD)
12:02 Federal Franchise Laws and State Franchise Laws
14:38 List of 23 FDD Items
16:27 Item 1: The Franchisor and any Parents, Predecessors and Affiliates
16:46 Item 2: Business Experience
17:10 Item 3: Litigation
17:20 Item 4: Bankruptcy
17:50 Item 5: Initial Fees
18:43 Item 6: Other Fees
20:37 Item 7: Estimated Initial Investment
21:13 Item 8: Restrictions on Sources of Products and Services
22:08 Item 9: Franchisee’s Obligations
22:27 Item 10: Financing
22:32 Item 11: Assistance, Advertising, Computer Systems, and Training
23:24 Item 12: Territory
23:58 Item 13: Trademarks
24:26 Item 14: Patents, Copyrights and Proprietary Information
24:36 Item 15: Obligation to Participate in the Actual Operation of the Franchise Business
24:58 Item 16: Restrictions on What the Franchisee May Sell
25:14 Item 17: Renewal, Termination, Transfer, and Dispute Resolution
25:50 Item 18: Public Figures
25:55 Item 19: Financial Performance Representations
28:15 Item 20: Outlets and Franchisee Information
28:29 Item 21: Financial Statements
29:17 Item 22: Contracts
29:54 Item 23: Receipts

31:54 Step 2: Creating Your Operations Manual
35:30 Step 3: Registering Your Trademarks
37:20 Step 4: Establishing a New Franchising Company
39:02 Step 5: Registering Your FDD in Franchise Registration States
41:23 Step 6: Creating a Sales Strategy
45:50 Step 7: Setting a Realistic Plan and Budget

READ THE ULTIMATE GUIDE TO FRANCHISING YOUR BUSINESS: https://www.franchiselawsolutions.com/learn/how-to-franchise/

To learn more about how to franchise a business, visit our resources and join our Franchise Growth Mastermind Community (links in comments below).

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