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How can i franchise my business

how can i franchise my business

Things You'll Need

State franchise registrations


Trademark the business name. suggests to first register the business name and symbols, if any, with the U.S. Patent and Trademark Office. This will prohibit another company with a similar business model from opening up under the same name without permission. The business name, or brand name, is one of the elements a business owner is selling. Under the Franchise Rule 16 C.F.R. part 436, the business owner does not have to own the trademark outright, but has to have permission to license the use of the mark to franchisees.

Prepare legal documents. The Federal Trade Commission is the legal governing body responsible for all levels of franchising. The document titled Franchise Rule 16 C.F.R part 436 outlines that every franchisor must prepare a Franchise Disclosure Document (FDD) and deliver this

document to every prospective franchise buyer. This document also outlines everything that must be included in the FDD. On top of federal laws, each state has its own set of laws to be adhered to by the business owner. It is recommend that the franchisor become familiar with each prospective state's franchising laws, as the laws vary between states.

Begin Advertising. Much like the business products and services themselves, the business concept and brand name must now be sold to prospective buyers. Places such as franchise expositions and trade magazines are highly concentrated areas of potential franchisees. The physical place of business and official website also are great places to advertise. Lastly, franchise brokers are available for hire. If time and knowledge of franchising are limited, hiring a broker to solicit franchisees might make the difference between franchise success and failure.

Category: Personal Finance

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