How to Expand Your Business Though Franchising 2014 | Page 8

What is
Franchising
All About?

F

ranchising has many dimensions. Too often – people will discuss
franchising in terms of legal issues and regulatory issues and
all of these other things (including misconceptions) that you
may or may not have to comply with. But as a business person,
as business people, we need to look at franchising for what it is - as a
business expansion model. Franchising is a business model - a vehicle to expand your business, to allow others to utilize their investment, their
capital and their manpower to take your brand and the business that
you have built and to assist you in expansion. And so, what franchising
can mean for you is that franchising is an opportunity to monetize what
you have already built. To take those business assets and know-how that
you have already built and actually earn income from those assets in the
form of franchise fees and ongoing royalties.
Now, naturally - as with many things – the government regulates
3 • THE INTERNICOLA LAW FIRM, P.C.

seemingly everything these days,
and so franchising is a regulated
industry, but I don’t want to get
bogged down in that during this
conference. We need to focus on
franchising as an expansion option,
as an expansion vehicle. There are
regulatory issues, there are legal
issues, but I can tell you that with
the right plan of action and team
of professionals, these “issues” may
be readily satisfied and handled.
So set that aside for the moment
as regulatory and legal issues (all
managable) should not be the