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To franchise your business, follow these steps: Determine if Franchising is Right for your Business. Legally Prepare and Issue your Franchise Disclosure Document. Develop Your Franchise Operations Manual. Register Your Trademarks with the USPTO. Establish Your Franchise Company. Register and File Your FDD.
These legal documents, along with the operating manuals, staffing, training programs, and marketing initiatives, are your main investments in the franchise system. The two primary documents you'll create are the Franchise Agreement and the Franchise Disclosure Document (FDD).
New York is a franchise registration state. Before you offer or sell a franchise in New York you must first file and register your FDD with the Investor Protection Bureau of the New York Attorney General. The initial New York FDD filing fee is $750 and the annual renewal fee is $150.
9 steps to start a franchise business Step 1: Find an industry. ... Step 2: Research competition. ... Step 3: Evaluate costs. ... Step 4: Create a business plan. ... Step 5: Form a business entity. ... Step 6: Complete the franchise license requirements. ... Step 7: Find a location. ... Step 8: Order equipment and hire employees.
Here's how to a franchise in 8 steps: Research Franchises. You can find franchise opportunities on websites like Franchise Direct. ... Evaluate Opportunities. ... Evaluate Costs. ... Draft a Business Plan. ... Get the Franchise License Agreement. ... Form a Business Entity. ... Choose Your First Business Space. ... Hire Employees.
What are the Steps to Take to Franchise a Business? Determine if franchising is right for your business. Issue your franchise disclosure document. Prepare your operations manual. Register your trademarks. Establish your franchise company. Register and file your FDD. Create your franchise sales strategy and budget.
Washington State is a franchise registration state. Before offering or selling a franchise in Washington, you must register your FDD with the Securities Division of the Washington State Department of Financial Institutions. The initial filing fee is $600 and the renewal fee is $100.
11 Key Steps for Opening a Franchise Self-Evaluation. What appeals to you about opening a franchised business? ... Pick a Franchise Consultant to Assist You (Optional) ... Research. ... Attend a Discovery Day. ... Speak to Other Franchisees. ... Find a Suitable Location. ... Choose a Franchise and Secure Funding. ... Sign the Agreement.