Becoming a small business owner can be intimidating, but there are ways to make the process easier and more successful, such as becoming a franchisee. Joining a franchise allows you to own a business but have the rights to an already existing company’s trademarks, brands, and extensive business knowledge.
Our specialist franchisee law team can assist franchisees in a variety of fields, from health and fitness, education, fashion, travel, and hospitality.
We have a broad scope of knowledge in the franchisee sector and are ready to lend a helping hand, ensuring you are entirely aware of what you are joining, the implications it can have, and the accurate steps to take for a stress-free and smooth sailing process to setting up your franchisee business.
Free initial interview for franchisee law advice
Looking to speak to one of our specialist franchisee law attorneys? Take advantage of our free initial interview.
We believe legal advice should be available to all and for this reason, no matter your circumstances, we can find a suitable way to have our interview, whether it’s face-to-face at our offices or meeting at your home. We can also arrange telephone and video-conferencing appointments if more appropriate.
Joining a franchise is a big decision, and you shouldn’t make it without expert legal assistance. Call us today, and we can talk you through the process.
Speak to our franchisee law solicitors today
For tailored legal advice on how to become a franchisee, please get in touch with our Staffordshire solicitors in Stafford and Rugeley.
Franchisee law – key things to know
What are the benefits of becoming a franchisee?
While there are any implications to any business venture you take, there are many benefits of becoming a franchisee, including:
- The customer base already exists – A franchise business already has its loyal customers, and opening a new franchise in a location that doesn’t already have one is expected to do well, especially if the target market is there.
- It’s a safe way to become a small business owner – due to the other benefits, such as already having a customer base, having access to the business’s trademarks, brands and knowledge, the business is more likely to be successful than if you were starting from scratch with a business no one has heard of or brought from before. In addition, as a franchisee, you have support from the franchisor who will want the business to succeed
What important questions should you ask before becoming a franchisee?
Before making the decision to jump in and become a franchisee, it’s vital to make some considerations and determine whether joining a franchise is the right small business option for you. Some of the important questions you should be asking the franchisor prior to becoming a franchisee include:
- How is the business currently performing?
- How strong is the business data?
- Are there any problems that I should be aware of?
- What are the key performance indicators (KPIs)?
- Are business systems provided?
What are the steps to becoming a franchisee?
- Step 1: Research the franchise you are interested in purchasing, see if it fits with your personal business plan, if the business is performing, what’s the expected future, etc.
- Step 2: Consider how you will fund the purchase. It might be that you are fortunate to pay the entire amount outright. However, where you are not, you will need to speak to a number of banks and see if and what they can offer you for your franchise acquisition.
- Step 3: Seek legal advice from an expert franchisee law solicitor. A solicitor will be able to provide helpful advice and assist with the preparation of purchasing a franchise business, including signing agreements.
- Step 4: Set a meeting with the franchisor. Once you’re certain on the franchise you want to acquire and have funding and legal support in place, meet with the franchisor and learn more about the business, bring a set list of questions to ask.
- Step 5: Meet with other franchisees. This will give you a better taste of what to expect when joining a franchise.
- Step 6: Create a business plan with the existing data. This includes looking at the expected business turnover, profit, and other important financial factors to consider.
- Step 7: Once you have made a decision and are satisfied to move forward, sign the franchise agreement. At this stage, ensure you look over the agreement with a franchisee solicitor.
- Step 8: Undergo franchisee training. When you join a franchise, you will receive significant training to prepare you for the role of business manager.
- Step 9: The final step is to open your franchise business.
Why choose Pickering & Butters for your franchisee law advice?
We aim to provide a high quality, personal service for our clients interested in franchisee law:
A friendly approach – we understand the hard decision making a new business venture can be, and we’re here to provide friendly and helpful advice to support you.
No legal jargon – when talking you through franchisee law, our advice will be in clear, plain English.
A free initial interview – our solicitors can provide insightful assistance concerning franchisee law and listen to your small business ideas where we can provide advice and helpful recommendations.
A variety of flexible funding options – our fees will depend on the level of expertise required.
Speak to our franchisee law solicitors today
For tailored legal advice on franchisee law, please get in touch with our Staffordshire solicitors in Stafford and Rugeley.
