Business & Commercial Law FAQ - I have developed a unique business which I wish to franchise?
Date: March 03, 2011
Q. I have developed a unique business which I wish to franchise as I do not want employees. What should I do in the circumstances?
A. Given that you have a unique business then the first thing you need to do before you enter into negotiations with anyone is to have any particular prospect with whom you may be involved sign a confidentiality agreement. Secondly you need to make it financially attractive for them to want to continue and to offer a business model which is both attractive and financially beneficial to them if they become a franchisee of yours. If you wish to develop a national franchise then you will need to consider the desirability of whether you will need to take on staff. All legal issues should be dealt with by your lawyer and all business matters referred to your business adviser or accountant.
