1 – Do your homework.

Find a niche that needs to be filled and a business model in which you can be successful. You will do better if you are passionate about the product, so make sure that your business is compatible with your interests. Once you decide on the type of business you have the wherewithal to run (whether it is food, eyelashes, home improvement, tutoring, or whatever else suits you), find the perfect location and then create your business plan. Make sure you budget for equipment, monthly expenses, and insurance, because there always tend to be a lot of hidden expenses that crop up.

2 – Understand the commitment.

The people that choose to franchise with you are putting a lot on the line, and this is basically like a lease. To keep up your end of the bargain, make sure that your business is running smoothly and that you are turning a profit. Communicate well with employers, vendors, and franchisees. Communication will be a huge part of your success. With your continued success, you can enter into more franchise agreements as well.

3 – Build your brand.

If your goal is to franchise, then your customers will need to recognize your products and services, not only in your local area, but in the broader community. Take time to create a marketing plan that will help you get recognized easily. You need a catchy slogan, some inspiring copy, and a logo that will stand out from the crowd. Then everything you do, every place you advertise, and every move you make will utilize this branding.

4 – Utilize the expertise of an experienced franchise attorney.

The one certainty in franchising is that there are a lot of moving parts when it comes to getting your franchise off the ground. Hiring an experienced franchise lawyer will help you do things like getting your federal trademark and understanding the franchise disclosure document. It is the kind of document that lay people can get lost in, and you need an experienced lawyer to help you navigate through it. The last thing you want is to get surprised by some hidden law or loophole that you didn’t see coming. Set yourself up for success by having a dynamic legal team on board.