• Cole Gorman

Tennessee franchising opens many questions about business law

A common complaint of employees is the drudgery of working for someone else. Owning and running a business is a dream for many in Tennessee, but the daunting task of starting from the ground up is enough to frighten potential entrepreneurs away from the idea. In addition to the cost, there is the complicated business law involved in creating a company. However, many find that one way to keep the dream alive is to investigate the possibility of buying into a franchise.

The advantages of franchising are many, not the least of which is that much of the start-up work is already done. A system for running the business is already established, and a support system is in place that a new business may not offer. A franchise often provides training and marketing that a budding entrepreneur may not be able to afford. Someone starting out as a business owner may find it easier to convince a bank to finance a franchise operation over a brand new, unproven venture.

Franchises typically come with a name customers recognize. This may improve an entrepreneur’s chances of success. Additionally, in some cases, a new business owner may be able to step into an existing business, with a staff already trained and working. Such turn-key businesses save an owner from having to negotiate a property lease or establish contacts with vendors.

Despite the ease with which a person can start a business through franchising, there are still many areas of business law to take into consideration. Before signing a franchise agreement, a potential business owner would do well to consult an attorney for advice and guidance. A Tennessee business attorney can provide assistance at the beginning of the venture and support through legal issues that may arise in the future.

Source: thebalance.com, “Top Reasons to Buy a Franchise,” Don Daszkowski, Accessed on Aug. 12, 2017

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