If you already own a successful restaurant or other business, turning it into a franchise may make a lot of financial sense. By franchising your business, you allow other entrepreneurs to buy a franchised branch of your business, following your proven business model and branding. You earn passive income in the form of franchise fees, all while further expanding your brand recognition. If this sounds like the right path for you, here are a few tips to keep in mind:
One day, when I was least expecting it, I received a summons to court when I was in a meeting. I was completely blindsided by the lawsuit, and I knew that I had to do something to fight back. Instead of getting depressed about it and assuming that I wouldn't be prepared for court, I decided to hire a professional attorney who could help. My business lawyer got right to work proving that we were innocent of the accusations, and it was great to have someone else handle the details. Check out this blog for great information on finding a great lawyer.