Is A Franchise Business The Right Option For Me?

Franchises are becoming a hugely popular business model for a lot of people looking to run their own business. For a fee, you gain the security and brand awareness overnight that can take years to create as a brand-new business. However, as with all business decisions it’s important that you take the time to understand the legal obligations involved and any costs that you will be taking on. In this blog post our commercial solicitors in Peterborough help you understand if a franchise business is the right option for you.

Let’s start by looking at what a franchise business is, then we can look at what you need to run one.

As a franchisee you will buy the right to open a business under an existing brand. Franchise businesses are a lot more common than you might think. For example, McDonalds, Subway and Anytime Fitness are all franchise businesses. The franchisor (existing business) gives the franchisee (business owner) all the tools needed to open the business.

The benefit for the franchisee is that they get to start a business with a recognised brand. They also get all the training, tools and training needed. Meanwhile, the benefit for the franchisor is that they get to expand their business. They will also receive a portion of the earnings from the operation of the franchisee.

If you are considering if a franchise business is the right option for you, speak to our legal commercial experts. We can give you the information and knowledge you need to make an informed decision.

Our commercial solicitors will look at the franchise agreement with you, so you know what is expected of you. They will look at the intellectual property of the business too. This means you can understand how to use it currently.  As your commercial lawyers in Peterborough, we will also look at the commercial finance side of setting up your franchise business. This includes looking at the debt or financial liabilities you will take on and how to manage these.

Wondering if a franchise business is the right option for you? Call our commercial solicitors to arrange a meeting. We can look at the franchise and what you need to be aware of.