Franchising is the granting of the rights by a successful company (the franchisor) to another, independent entity (the franchisee) to do business in a according to the rules of the franchisor. The right can take the form of selling the franchisor’s products, using its name, production, marketing techniques, or using its business plan. Usually franchising involves a combination of many of those elements.
Typically, to be successful in franchising, the firm must be able to offer unique products or services. A franchise must also offer a high degree of standardization, which does not require 100% uniformity, but rather, customers or clients being able to recognize your brand anywhere they go. Concurrent with this brand recognition, the franchisor can and should adapt to local circumstances.
Also view a blog here: What goes into a franchise contract?
Most franchises have larger goals of expanding overseas or into neighboring countries. Key reasons for the international expansion of franchise systems are market potential, financial gain, and saturated domestic markets.
If you read through this article, it appears that you find franchising interesting! If you would like to invest in a HART Legal franchise you can give us a call at 778-676-3808 or go to our franchise information page. Please note we have moved away from the law firm franchise model. We now have an updated model! Please contact us for more details.