So, you’re thinking about starting a business. Have you given some consideration to a franchise? Not everyone thinks about that when they are planning a business as most people have an idea in mind.
When people approach us with an idea for a new business, we take the time to see if anyone else has already started a business with the same or similar idea and, if they have, have they franchised or licensed it. In other instances, clients approach us and tell us they don’t like their jobs and want to do something else and need a business of their own but don’t have a concept in mind.
People don’t often think of a franchise as something that is your own but at the end of the day, while the concept may belong to someone else, the business is yours. Many people know the statistics that get tossed around with more than 60% of all new businesses failing (and that number is significantly higher for food-related businesses). Well, according to a number of industry publications out there, more than 70% of all new franchise locations that open up (based upon a proven franchise) succeed – that might explain why our new franchisee clients have an easier time getting bank financing than many of our new business start-ups.
Some of our most successful clients are franchisees. We have them in all sorts of things including restaurants, fitness centers, spas, cleaning, restoration, maintenance, moving and storage, computer technology and social media consulting. Many of our successful franchise clients own more than one franchise brand (especially our clients with food-related franchises).
We have a team of lawyers and staff that have actual experience in business – from owning their own businesses to having spent years in-house with companies learning how companies think, how they use legal teams and how they