Understanding Control of Your Franchise With Specialist Franchising Solicitors
As a potential franchisor you have the opportunity to develop your business in ways you may never have thought of before. For example instead of earning money from your own flagship business, you can take a profit from every other franchise you allow to open up under your name.
Nevertheless, you run the risk of a dispute arising out of the franchise at some stage. It could be that an argument arises over who is in charge of a certain part of the business. This is why it is crucial to consult with specialist franchising solicitors at the earliest stages of creating a franchise because it can save a lot of problems later on. They will help you put together a watertight contract which will clearly lay out your rights as franchisor and quite importantly will protect your IP rights, in particular looking after your trademark which is crucial to a successful franchise.
Different franchising opportunities have different levels of control attached to them. For example some will act more laid back and allow their franchisee to run the business however they think right. As you may imagine though, as the franchisor you have to be sure your brand and business idea remain constant throughout. Developed and successful franchises can have up to hundreds of outlets across the UK and you will see that these outlets will all have certain level of consistency.
An expert franchising solicitor will offer you invaluable advice on how to create and set up the franchise to begin with. The processes you put into place now will help to protect your idea and business for the future. A solicitor can also make suggestions that could strengthen your overall idea as well as producing less chance of a franchising dispute in the future. Clearly you will want your franchise to be a stable success, the key to this is exercising a good amount of control over your franchisee's right from the beginning.
It is worth mentioning however that if you try to exert too much control, you may potentially put off franchisees from buying into your business. Again it is worth discussing this with your specialist franchising solicitors before putting your plans into action. They will have plenty of experience in this area and can steer you in the right direction.
You can see that it is wise to consider the benefits of consulting with a solicitor when it comes to retaining control of your franchise. It may help you develop your franchise successfully and encounter a lessor amount off issues in the future.
About the Author
Bonallack & Bishop can help you buy or sell a franchise or deal with your franchise dispute (http://franchisingsolicitor.co.uk/franchise_disputes.aspx ). If you want more information then contact one of their franchising solicitors today (http://franchisingsolicitor.co.uk ). Senior Partner Tim Bishop is responsible for all major strategic decisions.
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