As I began to consider what to write for my inaugural blog posting, it occurred to me that most business owners considering a franchise system as a method of expansion frequently find themselves at a crossroads full of unanswered questions.
- How much capital do I need to expand and how much capital do I have available?
- Have I identified and protected the intellectual property critical to the business?
- Do I already have replicable systems in place or do I need to create a system to replicate my business system?
- Do I want to operate my business or do I want to help others develop and operate my concept?
- Am I an innovator or a relationship builder?
- What kind of infrastructure do I need to plan for?
The purpose of this blog, and what I hope to provide in the coming weeks, months, and years, is to offer various insights into not only the legal aspects of the franchise world, but also into the business strategies which will help answer these questions and the numerous other concerns faced by growing businesses. My desire it that this site becomes an interactive sounding board and community of business developers focused on recapturing the economic advantages of business growth. I welcome your comments and look forward to the discussions. Until next time…