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Franchising and Licensing
Franchising has proved to be very popular for business people to start a new business. Generally, a franchisee purchases the use of an established brand and good reputation, and gains access to support with business systems, marketing, business development advice, products or services.
It is important to consider any franchise agreement very carefully - as a prospective franchisee you need to know what services will be provided to you in return for your payments. If you intend to franchise your business, you have to consider carefully how you will retain ownership of your intellectual property and how you will provide the support and back up that franchisees will expect.
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