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Stamford, CT business law attorney franchise

If you are ready to become a business owner, one option you may be considering is buying a franchise. Purchasing a franchise location of an existing company is a great way to start your journey into business ownership. Buying a franchise allows you to operate your business while still receiving guidance and leadership from the franchisor. However, a franchise is not the right choice for everyone. If you are thinking about buying a franchise, make sure to speak with an experienced business lawyer so you can avoid costly legal mistakes. Additionally, consider the following factors.

Your Business Goals and Personal Aspirations

Being the owner of a franchise is much different than starting your own business. The benefits of a franchise are plenty. The business will likely be profitable more quickly than a startup, you gain valuable resources and assistance from the parent company, and you benefit from the company’s established reputation. However, buying a franchise also limits the direct input you have on how the business is run. You will be expected to conform to the franchisor’s policies, rules, and procedures. If you are a person who thrives on creativity and independence, buying a franchise may not be the best option for you. However, if you are looking to buy a business that is ready to start operations immediately, a franchise may be the right choice. You will need to evaluate your own goals and aspirations to know whether buying this type of business is the best way to achieve these goals.   

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