Forming Your New Franchise Company
Starting and operating a franchise company is an exciting adventure! To reach your goal of creating a franchise which can be successfully replicated time and again, you’re going to need a company designed to weather the storms you will face, and be poised for growth when opportunities present themselves. Whether you’re interested in forming a limited liability company or a corporation, ExecutiveLP is prepared to help you choose, form, and operate the right business structure for you.
As you approach the choice of what business organization to adopt, remember there is no one-size-fits-all solution. Talk to your attorney about your goals, and make the right decision for your company based on what is important to you.
If you need to raise a lot of capital very quickly, and you want to do so by selling shares of stock, you’ll need a corporation; but will you choose an S-Corporation or a C-Corporation? If you’re primarily interested in liability protection, and intend to keep the number of equity owners of the company to a minimum, a limited liability company might be a better option for you. The important thing is to weigh the pros and cons, understand your options, and make an informed choice based on your unique needs.
Organizing Your New Franchise Company
Our goal, in working with any new franchise company, is to make as simple as possible the otherwise difficult, expensive process of making this huge investment in your future. From risk management to document preparation, from legal consulting to staff training and support, ExecutiveLP will be with you every step of the way. Our custom, personalized services are designed to give you guidance, support, and the legal information you need to take action and lead your company forward with confidence.
Preparing the Uniform Franchise Offering Circular (UFOC) required of all companies by the Federal Trade Commission will be the first task ExecutiveLP will tackle after forming your new franchise company. The firm will also prepare any registration documents required by any state requiring registration of the franchise company. These foundational steps are crucial to ensuring your new franchise company has a green light to start creating the infrastructure you will need to support your franchisees.
The next step is all about creating the Franchise Agreement and its ancillary contracts and documents. Plus, you’ll want to establish and record your proprietary materials, processes, and any logistic support you’ll want to provide to your franchisees. This phase of the over-all project revolves around creating the means by which you plan to replicate your business for each of your franchisees.
A franchise company is constantly refining this process, but the first time you dive into it, the important thing is to define, not to refine or perfect the process. Remember, as a franchise company, your business is your brand and how you do what you do, and enabling others to do what you do the way you do it.
Legal services from ExecutiveLP are designed for entrepreneurs and businesses who understand the important role Preventive Law plays in providing continuous protection of a business for its entire life. Don’t just manage legal crises; prevent legal risks from becoming expensive legal problems with preventive legal services from ExecutiveLP.