Why Take Advantage Of Franchising Your Arizona Business
Important Reasons Why Franchising Your Business Can Benefit You
If you have a successful business, you may be thinking of expanding. But instead of raising the capital and going through the process of adding another location, you may want to think about franchising your business instead. A Gilbert franchising lawyer can help you understand the process and can put together the appropriate contracts and documents to create these opportunities while also protecting your interests.
There are many benefits to franchising your business. Here are just a few of the reasons you should consider taking advantage of this option for your Arizona business:
Break Into New Locations
You may know the Phoenix area for your business, but you may not understand what it’s like in a small town in Northern Arizona or even another big city, such as Los Angeles. When you franchise your business, you let someone else with local knowledge introduce your brand to new people. You don’t have to spend time researching the location or figuring out how to reach the people who live there. Your franchisee will bring that knowledge to the table and will help your business be successful in a new community.
Create Greater Brand Awareness
The more locations you have for your business, the more people will know about your brand. But you may not have the time or the resources to open a lot of new locations. You can invest a lot in marketing to create greater brand awareness, but opening your business up to franchising will do that work for you effortlessly.
Grow Your Company More Quickly
You may have long-term visions of creating a company with locations on every corner – a company that everyone knows and loves. But creating a company like that on your own takes a lot of time. With franchising, you can shortcut the process and reach your goal much faster. You can let others open up locations, while you continue to reap the profits and gain the recognition and longevity that you want.
Reduce Your Financial Liability
Opening up new branches of your business requires a lot of capital. You can convince investors to give you the capital, or you could raise your own capital, but either way, you’re on the line for your success or failure. With franchising, you can rely on someone else’s capital to grow your business. You don’t have the same pressure to come up with the funds, nor do you have the same liability if the new location is not as successful as you would have hoped.
Reduce Your Day-To-Day Obligations
As a franchisor, you can enjoy all the benefits of owning the business without having to deal with the day-to-day operations. You will still have to monitor the franchisee, but the work involved will be a fraction of what is compared to actually running the location. You’ll also have your franchising attorney on your side to help you monitor any legal issues and to help you deal with disputes should they arise.
The key to successfully franchising your business is creating the right legal framework right from the start. That’s why it’s so important to work with the right Chandler franchising attorney. The agreements you put in place with your franchisees will determine what kind of profits you collect, how your brand is used, what kind of options you have if you have a dispute or your brand is misused, and so on. With strong contracts in place at the beginning, you can ensure that you will have a successful franchise, and you can see your business grow profitably for years to come, creating a nice legacy for your brand and your family.
Hire a Reliable Franchise Lawyer In Mesa, AZ
The franchising attorneys at Denton Peterson Dunn can help you create a franchise agreement that will protect your business and set it up for a long and successful future. We will draft all documents needed for the successful creation and ongoing operation of your franchises, whether you want to have a limited number of franchises or you want to leave yourself open for unlimited expansion. We have offices in Scottsdale, Mesa, and Phoenix. Contact us today to schedule a consultation with one of our franchising attorneys and learn more about the possibilities for your business.