In this episode of the Franchise My Business podcast, Kevin features Kara Martin, Attorney, and Partner at The Franchise & Business Law Group. Today, she gives an inside look into the legal side of franchising and provides a legal backdrop to the licensing process that founders must go through.
Kara advises aspiring franchisors to find a franchise attorney, learn the steps, and take the time to fine-tune processes before making a final decision. However, she also says that if a founder has a solid WHY, then jumping into franchising is also completely viable.
HIGHLIGHT QUOTES
Franchising vs licensing: Founders have more control over franchising – Kara: “Franchise is actually a license and so there are just various types of licensing, and franchising is one. It’s one of the most complex types of licenses. The reason franchising is a great option, as opposed to just a trademark license or another type of IP license or product distribution license, is it allows the franchisor or the founder to maintain a lot of control.”
Get educated and prepare to make your franchise a success – Kara: “My recommendation? Get into legal earlier than later. And the reason for that is it might not be the right time to start franchising, but what I can do and what a good franchise attorney can do is give you the tools and the steps to take and prepare.”
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