More and more people are choosing to go the entrepreneurship route in the US, and franchises provide a stellar opportunity for business growth and financial success. Between the lure of being your own boss, to the relative structure involved in working with a larger franchised organization, buying a franchise can provide you with the financial freedom that you’ve been looking for without the high failure rate of a start-up business opportunity. A franchise law attorney can help you understand the various options that are available and ensure that you’re starting your new venture on the right footing by leveraging the many benefits of running your own business.
Knowing every single step to take in order to get your business up and running can be a real challenge, so one of the key benefits of obtaining a franchise is that much of the heavy lifting (and thinking!) have already been done by others. Not only will your franchisor have laid out a likely path to success, but you often are able to receive guidance on land purchases, types of equipment to purchase and how to keep contractors on task. Understanding the requirements of franchise law can help you move forward with confidence and be fully prepared for the next steps in your franchise adventure.
Corporate Branding and Marketing
Having the support of a marketing machine behind your new venture cannot be overstated. Many small businesses fail simply because people were not aware of the service, but when you purchase a franchise, you’re automatically buying into a recognizable brand and structure. When customers are familiar with your brand and your parent organization is spending the big dollars to drive demand, your job becomes much easier.
When you go to a bank with a business plan and a smile, if you don’t have a track record of highly successful business, you’re not very likely to get the loans that you need to fund your dreams. However, if you are starting up a franchise location you’re much more likely to receive the financing that you need as you’re building on an established brand and utilizing a tried-and-true business plan.
Training and Support
Maintaining contact with your franchise support network can help you get through a variety of hurdles, especially through the first year or so of your new business journey. Whether you’re asking questions about how to handle a specific portion of franchise law or simply wondering how to deal with paperwork, having a franchise means you are never alone.
Protecting your new franchise is an important part of starting this new venture. At Shelton Law & Associates, we work closely with you to ensure that you’re getting the best start possible with your new endeavor. Whether you’re just starting out or need information about the dissolution of a business, we’re here to help no matter where you are in the process. Contact us today to learn more.