Licensing my biz ??

[gcpets]

I'm considering a couple of angles after recent event. All I know is that I personally want to spend less time IN the business and more ON it. Even then, I want to be able to persue other projects or even re-start other interests, passions and hobbies.

Anyway, I'm looking into an employee as well as viritual receptionist service.

At the same time, I remember someone giving me the idea of "licensing" my business ? I don't want to franchise. No. Instead, as far as I'm aware, if I license... I take a percentage of the profits as such yet ultimately that part of the business is being "run" by the licensee. We all work together to increase the business so we all win ? as such.

Firstly, can anyone point me to somewhere or someone that can run through all the pro and con of licensing my business.

Secondly, how do I do it ? What are the costs for me etc ?

[JakeThomas]

Nice work Vanessa, glad to hear you are expanding!! And thats a dream we all have, spend more time working ON the business =) Just be careful you don't outsource too much

I know just the man to help you move into a franchising / licensing model, he's a business coach that specialises in that - only thing it, I've completely forgotten his name!!

I've got his business card in my holder at the office I think, so I will have a dig around and get back to you.

[gcpets]

I'm considering a few options like hiring my first employee (except not on public holidays, after 1pm on Saturday and not Sunday - can't afford it! LOL)

As up until now I've been using ICs to help "keep the work under my roof" yet that is limited. Was considering licensing versus franchising because I'm only going to license to North Gold Coast and South Gold Coast and possible "Tweed Region" if I went that route.... and I figure the people who would buy the licenses are people who WILL build the business not just wait for me to give them work.