The Difference Between Franchising and Licensing
The Difference Between Franchising and Licensing Franchising and licensing are two methods of profiting from the valuable goodwill of your business. While both methods have similarities, distinct differences further characterize their legal and business meanings. This article gives important context to distinguish the difference between the two options. Here, you’ll [...]
Franchising Your E-Commerce Business
Franchising Your E-Commerce Business When you think about a franchise, you might envision restaurants, service providers and other brick-and-mortar stores. However, franchising your e-commerce business is an equally strong candidate for franchise expansion. Just like physical stores, e-commerce businesses are successful because of the positive reputation their brand carries, along [...]
Key Points in Reviewing a Franchise Disclosure Document
Key Points in Reviewing a Franchise Disclosure Document There are key points in reviewing a franchise disclosure document (FDD) which is an important step for any franchisee that is contemplating a new franchise opportunity. An FDD contains information about a franchise that allows you to evaluate the business before fully [...]
The Benefit of a Franchise System Over a Chain Model
The Benefit of a Franchise System Over a Chain Model A natural next step for a successful business with a great product and a smooth operation model is expansion. When you reach this stage, a few options exist for growth. However, the decision is often between choosing a franchise system [...]
Creating Ironclad Franchise Documents
Creating Ironclad Franchise Documents The success of your franchise is reliant on your franchise agreement and other documents (e.g., corporate agreements, policies, employee handbooks, etc.) to protect your franchise’s brand. Creating ironclad franchise documents will strengthen your franchise by providing consistency among different units. Identifying the key features and characteristics [...]
Franchise Agreements: Term Lengths and Future Changes
Franchise agreement term lengths and future changes are important in your franchise operation and understanding them is critical for your success as a franchisee or franchisor. Your franchise agreement should provide a clear roadmap for both the operation of the franchise and the relationship of the involved parties. Before entering into [...]