SOLUTIONS FOR THE NEW FRANCHISOR
At Kern & Hillman,
LLC we provide a full array of solutions you need to franchise your
business. Clients often come to us with a successful local business
of five or fewer company outlets and a dream of expanding distribution
broadly using other people’s capital through franchising. They
ask “Can I franchise my business?”
The Franchise Law
Source has solutions. Transforming a business into a franchise system is
a complex process:
- Starting a
franchise company means that a
FRANCHISE
AGREEMENT must be drafted that allows the company to control
quality and image while allowing the franchisees to profit and
flourish.
- State and Federal
franchise laws require that a FRANCHISE
DISCLOSURE DOCUMENT be prepared to disclose a vast amount of information
about the investment to prospective franchisees, before you can franchise
your business.
- Many states
require that franchise companies comply with
FRANCHISE
REGISTRATION LAWS.
- The
FEDERAL
TRADE COMMISSION (FTC) FRANCHISE RULE and many state laws
regulate starting a franchise business, and salespeople and brokers
have to be carefully trained to insure compliance.
- An emerging
franchisor must incorporate all of its know-how and methods into an
OPERATING SYSTEM and MARKETING PLAN and create a TRAINING PROGRAM
that can make franchisees experts in the business in a short
training academy. A big part of the answer to “Can I franchise my
business?” is determined by how thoroughly you can systematize
everything that goes on in the business.
Finally, it is
essential that the company secure adequate
FINANCING to cover the cost of
developing all of these programs and materials and the working capital
necessary to market and sell franchises and launch the early franchisees
in their businesses. You cannot franchise your business without adequate
capital. However we can help clients find ways to raise money and to
reduce the capital needed in starting a franchise business.
Kern & Hillman,
LLC provides solutions to emerging franchisors’ needs -- we are
your Franchise Law Source.
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