Whether you have ever launched a franchise or not, it’s safe to say that everyone understands it’s not easy. Most companies open as small businesses before even becoming a franchise. There are business plans to make, a location to choose, equipment to buy, and so on. A good rule of thumb is for businesses to be in operation for a few years before deciding to franchise. But once you’ve made that decision, then what?
If you have recently made that leap, or are thinking about it, the next step is research. As someone who has spent more than 30 years in the franchise industry, let me tell you there is only so much information you can find out online. That is where talking to experts comes in. And a good place to do that is a franchise expo.
I had the privilege of spending last week at the 2015 International Franchise Expo in New York – where I was able to share some of my expertise in the franchise industry in several free seminars. Topics ranged from business terms in a franchise disclosure document (FDD) to avoiding litigation – both important topics to explore if you are thinking about franchising your business.
To those whom I met, thank you for your attendance. I hope I was able to provide you with guidance as you work through this stage of your professional life. To those who may not have been able to attend, don’t despair. As part of my ongoing dedication to franchise law and the industry, I regularly provide expertise to entrepreneurs and franchisors. In fact, the next such opportunity is this week. On June 22, 2015 I will be hosting a franchise forum in New York. Click here to get in touch with me, and my firm for more information, or for a free consultation. As I say in my book So You Want to Franchise Your Business, if you are truly considering the next step, do your due diligence now. You’ll be glad you did.