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    3 Replies Latest reply on Apr 29, 2011 8:21 AM by BizOptimizer

    someone wants to franchise my store

    Newbie

      Hi Everybody,

      I have a small dessert shop in Los Angeles(just one store).

      Someone wants to franchise my store(also in California), but what are the pros and cons for me?

      Do I need any permit or license to franchise? Can I just do this between me and him? or Do I have to report some legal documents to somewhere?

      What are the legal matters?

      Please give me some advise.

       

      Thanks in advance

        • someone wants to franchise my store
          BizOptimizer Adventurer

          I would seek the advice of a franchise creator like United Franchise Group.  They should be able to give you a perspective on all aspects (legal, marketing, protection, etc).  As I understand it, there was once a group that wanted to franchise Longhorn Steakhouse out west - they ended up starting Outback.

           

          I suspect there are many hazzards on many angles and you'd do youself good to consult with those in the business.  Good luck,

           

          Ed

          • Re: someone wants to franchise my store
            PiperE Wayfarer

            passioninla,

             

            Not sure if you are even still following this thread anymore. But, I was a franchise consultant, and know that franchising a business is terribly expensive.

             

            Unless you are planning to launch a full blown franchise, a better option is to simply license your business model to this person. Of course you will need an attorney who is experienced is creating licensing agreements, but it will be a fraction of the cost you'd incur to franchise.