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When you have a business concept that you want to grow quickly and without capital investment, offering franchises can be a good option.
What is Franchising?
Essentially, the franchise model takes your business model and offers franchisees the right to replicate this in a new area. The franchisee will generally obtain the property and fund any capital works. This can be repeated in a number of different territories, allowing you to expand quickly and into areas where a business may not have felt comfortable operating before. In return for offering the franchisee the right to operate your business model, the franchisee normally makes a royalty payment based on the income generated in its area.
Many entrepreneurs are keen to explore franchise options as they see this as a way to own their own business but with a tried and tested business model. The franchising model therefore allows for fast growth backed by hungry franchisees.
Why Choose JMW?
We have wide experience of advising both franchisors and franchisees in relation to their proposed arrangements. In particular, we advise franchisors on:
- ways to protect their intellectual property
- ways to ensure that a rogue franchisee doesn’t undermine the rest of the network
We advise franchisees on:
- ways to ensure that their investment in their area (both in terms of cash and time) is protected
- ensuring they get the support that they need from the franchisor