Legacy Planning Law Group knows that the best way to help our clients is to understand their business planning needs and help guide them along the way. If you’re interested in learning more about our franchising services, please book your free 15-minute phone call with us today!
According to the International Franchise Association, franchising is a method of distributing products or services. At least two levels of people are involved in a franchise system: (1) the franchisor, who establishes the brand’s trademark or trade name and a business system; and (2) the franchisee, who pays a royalty and often an initial fee for the right to do business under the franchisor’s name and system. Technically, the contract binding the two parties is the “franchise,” but that term is often used to mean the actual business that the franchisee operates.
There are two different types of franchising relationships. Business format franchising is the type most identifiable. In a business format franchise, the franchisor provides to the franchisee not just its trade name, products and services, but an entire system for operating the business. The franchisee generally receives site selection and development support, operating manuals, training, brand standards, quality control, a marketing strategy and business advisory support from the franchisor. While less identified with franchising, traditional or product distribution franchising is larger in total sales than business format franchising. Examples of traditional or product distribution franchising can be found in the bottling, gasoline, automotive and other manufacturing industries.
We offer a 15-minute complimentary call with one of our team members to get to know you and your situation.
During the call, we will find out what your planning needs are so we can see if we can help you. We will also figure out if we would be a good fit for each other.
At the end of the call, we will set up a time to meet with the team and create a plan that will protect your family and preserve your legacy.