Taft Franchise Advance Program

Not every business is right for franchising, but if you have a proven system that can be replicated, a large enough market, and a plan for growth, it may be the opportunity for you. Franchising a business can transform an already-successful business into something greater, but it is no simple project. Getting started involves several key steps and careful compliance to avoid legal complications.

Taft’s Franchise Advance Program provides important information, guidance, and key steps for businesses considering franchising. The three parts include: 1) Assessment, 2) Conversion, and 3) Growth.

To get started, contact Josh Brown.

The first stage includes an eight-part assessment of your business to determine your readiness to franchise. The assessment includes an analysis of your business, systems, structure, Marks, profitability, and operations to advise on where you are in the business cycle and what needs further work to make sure you are “franchise-ready.”

Based on the eight steps, a determination will be made whether you are ready to franchise.  If, yes, we move on to the Conversion phase. If, no, we create a plan for how to get you ready.

To get started, contact Josh Brown.

Once we determine that a business is ready to franchise, we move to the Conversion phase. This part involves the entire process of taking a business and turning it into a franchise.

Taft attorneys have significant experience franchising businesses in a wide range of industries. We have a proven method and process in place and the necessary experience to take businesses through the steps to set a franchise up properly, providing the best opportunity for success.

1. Complete the franchise questionnaires.
2. Prepare the Franchise Disclosure Document (FDD).
3. Finalize the Operations Manual for inclusion in the FDD.
   • Taft has proprietary software that we use to create comprehensive and compliant Operations Manuals for our clients. We utilize this technology to provide a cost-effective service that streamlines and automates this process.
4. Determine the state(s) for franchise registration. Click here for state-by-state registration information.
5. Create a detailed plan for growing the franchise in a strategic way.

To get started, contact Josh Brown.

Once you have successfully franchised your business, it’s time to actively plan for how to position the business for future growth. In this part, we create a strategy for franchise registration in various states across the U.S., assist with connecting to industry professionals and third parties to strike interest in the franchise, provide publicity assistance, help with connections to fuel growth, and counsel on other legal issues that may arise with franchise growth.

1. Implement growth plan.
2. Continue to make strategic introductions to drive growth.
3. Handle ongoing legal and business issues that may arise.
4. Participate in quarterly meetings to assess whether strategic objectives are being met, should be tweaked, or a combination of the two.
5. In the last quarter of the annual cycle for the business, meet and plan for the following year.
6. Rinse and repeat.

To get started, contact Josh Brown.

Eight-Step Assessment

1. Business Background: The founder’s story, products/services that are sold, and story of inception.
2. Current State of Business: Who, what, where, when, why, how…and the numbers (profitability).
3. Brand Elements: How is this business distinct? What makes it different from competitors? How is the brand helping or hurting?
4. Proprietary Parts: What is special and protectable about this business?
5. Technology: Is technology used and if so, how?
6. Market Opportunity: How big is the opportunity for growth?
7. Systems/Operations: Does the business have good, efficient, workable systems, and operational structure?
8. Next steps to position the business for franchising: Determine what is missing, how to fill the gap, and next steps moving forward on the franchise path.

To get started, contact Josh Brown.