When buying a franchise, think before you convert your existing business to a franchise. If you have an existing business, you may discover opportunities to convert your business to a franchise--to get the benefits of a "well known brand", to gain "purchasing power", or to gain advertising and support. You may even be tempted because of the attractiveness of the package.
Why Have a Corporation or LLC if You Don't Use It?
Why would you spend the time and money to set up a legal entity--a corporation or LLC (Limited Liability Company)--if you did not plan to use it? It seems that almost weekly we learn that people have a legal entity they paid for--but they never took the steps necessary to properly transfer their business or its assets into the entity.
