Why trademarking your brand is essential when you decide to franchise your business?
We are dealing with trademarks daily, also referred to as Brands. For example, Coca Cola, Xerox, and KFC. How many times have you chosen a brand due to the reputation of the brand name? It is important if you are a business owner to understand that trademarks are an important asset to grow their business.
If you have decided to franchise your business, it is essential to protect your brand name. Firstly, ensure that your name and taglines are trademarked. But where do I trademark my brand? That depends on local trade only or are you going to expand internationally? If it is internationally or even is South Africa, it will be essential to do a trademark search and ensure you are not infringing on any other trademarks. Before you develop your brand, you should choose a name that has not been trademarked. I will be costly in the long run.
Trademarks are an effective marketing tool to convey your brand attributes emotionally and intellectually. The trademark will convey the message who you are and affect your reputation, reputation, and services.
Your trademark does not need to be only a name, it could be designs recognize regardless of language or alphabet, for example the swoosh that Nike uses.
Customers viewing a trademark immediately know who they are dealing with, the reputation of your business and are less likely to look for alternatives. Your brand could be the critical factor in driving a customer’s purchase decision.
Trademarks provide valuable asset for your business and will escalate as your brand becomes more popular. Franchising your business is an incredible marketing tool to ensure your brand gets known. Trademarks can lead the way for expansion from one industry to another, such as from personal care to clothing or eye ware. If you desire it, your trademark can lead to the acquisition of your business by a larger corporation.
Choose your trademark wisely. As in medicine, a little bit of preventative legal work goes a long way. Just consider the ramifications of receiving a cease-and-desist letter after you have promoted your brand for several months or years. Even if you have not done any advertising or promotional activity, changing your brand is almost never as simple as replacing the sign.