Where you are not ready to sell your business but want to allow others to help you grow the overall business/brand, you may consider franchising.
As a franchisor, before you grant a franchise you should enter into a non-disclosure agreement with the interested potential franchisee. This will allow you to disclose certain confidential information to them so that they can decide whether they want to proceed.
You may be expected to respond to due diligence enquiries (and you should certainly carry out your own exercise in ensuring the franchisee is sufficiently qualified and experienced to take the franchise) and you will need a written agreement setting out the agreed terms of the franchise itself.
How can we help?
We can help with these steps and to draft and negotiate the franchise agreement to ensure you are adequately protected and have a clear document setting out the rights and obligations of the parties.
We can also help potential franchisees who are looking at taking a franchise.