My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

Franchises

Should I set up dealerships or franchises in order to expand my company?

min read
Opinions expressed by Entrepreneur contributors are their own.
<P>Whether to use dealerships, franchises or some other strategy to expand your business is a very big question and the correct answer is that it depends. There are any number of factors to consider and your personal and professional situation, combined with the goals you have for the business, will drive your decision on the growth strategy that's best for you.</P>
<P>My advice would be to start first with an initial consultation with an experienced franchise and business opportunity attorney. You can get referrals easily from the International Franchise Association or other sources, but make sure the attorney has a practice specializing in these forms of legal entities. Initial consultations are usually free or low cost and you can find out what the legal requirements and projected costs are to get your business set up to franchise or have dealerships or other forms of business opportunities. </P>
<P>You can also discuss what the business pros and cons are for each option and get other thoughts and advice. On a final note, I'm pretty confident that any experienced franchise or dealership attorney or advisor is going to tell you that six months operating experience in a single independent operation is likely an insufficient foundation for forming a franchise or dealership company, unless you have extensive prior experience in forming such a company in some other business. As Ted Turner was quoted in his biography title a few years ago, "It ain't as easy as it looks." So proceed with caution and make sure you've got plenty of extra capital, regardless of what route you choose.</P>
<P> </P>

More from Entrepreneur

Learn to be a better leader and develop successful marketing and branding strategies with Dr. Patti Fletcher's help.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Are you paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.

Latest on Entrepreneur