Considering franchising your business is a process that must be carefully considered when determining if your business could have the same success elsewhere and not being run directly by you but there are also different types of ways to franchise - will you be setting up franchisees by selling them the rights to the license and having them abide by your business plan or will you just be selling them the license? These are all things that you must consider when thinking about franchising your business.

Blog Category:

Franchise Law

2/24/2010
Vicky Gracia
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Franchising: How to Sell Your Business Concept

If you have a small business that seems to be prospering you may be considering franchising your business.  But what do you need to know about franchising to find out if your business is a good franchisable business?  The first thing you need to do is figure out if the thing that made your business survive and thrive can be replicated and still thrive in other locations with other owners. 

Franchising can be done in a number or ways:
  • Business Format Franchising - A business that is licenced to franchisees which allows them to run their own businesses but under your terms and conditions and follows your business model.
  • Selling a Licensing - Allows someone to use your product after paying you for the right to use it but does not have to follow your business model.
  • Using an Agent to Sell Licenses on Your Behalf or a Distrabution Agreement - Doing this allows another company to sell your licenced products after you sell it to them

No matter what way you go about franchising a business you should always first make sure that your success can be replicated and acheive the same rate of success being sold outside of your current small business whether you are considering a business format franchise, selling your licence or using a 3rd party to sell your licenced products.  Once you have determined this you will want to speak with a financial advisor such as an accountant and will also want to discuss the franchising of your business with a franchise lawyer.

For additional information about how to franchise your business read about
"How to Franchise My Business"


Labels: attorney Brooklyn business Franchising lawyer New York NYC Small business Staten Island






Charles N. Internicola, Esq., a partner at the Staten Island law firm of Decker Decker Dito & Internicola, LLP., is an experienced business and franchise lawyer who represents individuals and experienced business owners in business transactions and business litigation in Staten Island, New York City and New Jersey and in purchasing a franchise, franchising a businss, and also offers services for established franchisors nationwide. Charles is the author of the book "An Entrepreneurs Guide to Purchasing a Business or Franchise" and he is the editor of the New York Franchise Law Blog.  If you are involved in a business transaction, purchasing or selling a business, establishing a franchise system or involved in a business dispute, contact Charles Internicola to discuss the specialized legal services that he provides to his clients.


IMPORTANT DISCLAIMER: The information contained on this website is provided for general educational purposes only, should not be relied on as legal advice and does not serve to create an attorney client relationship. In utilizing this website you acknowledge that there is no attorney client relationship between you and Charles N. Internicola, Esq. and that the information contained on this site does not and cannot serve as a replacement for the competent legal advice of a licensed attorney in your state. The content of this website is subject to the Copyright of its author, Charles N. Internicola, Esq.


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