Innovation

Tips on Franchising

Once you've decided to franchise your business, you've decided to enter a whole different ball game. Your business and your audience change. You go from selling products or services to selling processes. Strict regulations on franchises mean that you need to become hyper vigilant to make sure your business remains in compliance. Alfred Edmond, Jr. is the SVP and executive editor-at-large for Black Enterprise magazine. Stephanie Kaplan-Lewis co-founded HerCampus.com, a digital magazine for college women. Find out why he says that the first thing franchisers need is a lawyer, while she says they need an advisory board.