If you have an established business, you may want to consider expanding into a franchise. When done correctly, it can be a very beneficial way of successfully expanding your business.

Under a franchise, one party grants another party the right to use its trademark or trade-name, business systems and processes to produce and market a good or service.

Before considering if franchising your business is a suitable expansion plan, you should:

  • work closely with your accountant to ensure your business structure suits franchising and, if not, make the required legal or structural changes
  • establish a Franchise Agreement – This is crucial in governing the relationship between you and your franchisees as well as protecting your business
  • ensure compliance with the mandatory Franchising Code of Conduct
  • ensure all aspects of intellectual property rights are protected.

If you are considering expanding your business through the establishment of a franchise, make an appointment with one of the experienced solicitors at Hume Taylor & Co today.