The first step to take when you want to franchise your business is to discuss it with your lawyer and accountant. As part of this discussion, the following should be covered:
- Whether your business is franchisable?
- Is the business of the franchisor viable and feasible?
- Intellectual property right
- Structuring of the franchisor’s business
- Risk management
- Expansion of the business and roll-out models
- Recruitment and Selection process and manual
- Compliance with franchise acts
- Pre-opening processes, including training, and manual
- Day to day operations and Daily Operations Manual
- Legal and other documents required
- Franchise disclosure requirements and documents
This is not a comprehensive list but a guideline. Speak to our franchise lawyer to obtain more details.
