<?php $title = 'Franchise - Partnerships and Starting a 
      Franchise'; ?>
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            <h1>Franchise - Partnerships and Starting a 
      Franchise</h1>
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            <p>Partnerships have a relatively low rate of success 
            when starting a franchise. Well, the same is true for any business. 
            Why? <BR><BR>Most partnerships fall apart within a few years or even 
            months because of mistakes during their structuring process. In many 
            cases partnerships are put together because one person either can&#8217;t 
            afford a business or does not have the expertise to start one. 
            <BR><BR>As a result, exited to find a partner and fulfill an 
            individual dream, entrepreneurs rush to get started before taking 
            care of some important details. Here are some things that need to be 
            considered when starting a franchise business in a partnership: 
            <BR><BR>1. What is the exits strategy? &#8211; Maker sure that you share 
            the same vision of where you want to be in 5 years. If an offer 
            comes along to buy your franchise, what will you do? <BR><BR>2. 
            Decide what to do if you stop agreeing on things &#8211; effective dispute 
            resolution tools need to be put in place before you get started. You 
            are going to spend a lot of time with your franchise partner, don&#8217;t 
            expect to agree on everything. <BR><BR>3. Decide who is the boss &#8211; 
            it is almost impossible to run a 50/50 partnership. Someone needs to 
            be the boss or the CEO. This way you know who is responsible for a 
            final decision from the beginning instead of having to decide that 
            each time on the spot. <BR><BR>4. Consider a Limited Partnership &#8211; 
            Make sure that all the liabilities in your business are clearly 
            spelled out. Getting a limited partnership agreement in place might 
            be the best way to go. v 5. Look at some successful partnership 
            examples &#8211; Baskin and Robbins (ice cram franchise) come to mind. 
            Take you time to research what made other people successful in this 
            arrangement. When considering a partnership it also helps to consult 
            an attorney in order to incorporate all the details into a 
            partnership agreement. <BR><BR>In the end, partnership may be a 
            great option for you, the key is to give careful consideration to 
            all your options and properly document everything.
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