Can you license a (secret) recipe? How would I find people to license it to?
I happen to have the recipe for a very busy local doughnut shop, they always have customers lined up out the door but aren't very successful financially because they lack business sense, they want to franchise, but haven't been able to yet, I figure I could beat them to it, but I don't want to get into the food industry for myself, knowing how hard it is. I feel it would be more fastlane to license the secret recipe to someone who has the ability to start a big franchise right away, for royalties or even for equity.
so the question is, can you license a recipe? if so, how would you go about finding someone who would be interested, and what kind of royalty could you expect to charge.
It may seem trivial to you but this shop was voted best doughnuts in my country, so maybe someone wants that recipe, I just don't know how to find them
I happen to have the recipe for a very busy local doughnut shop, they always have customers lined up out the door but aren't very successful financially because they lack business sense, they want to franchise, but haven't been able to yet, I figure I could beat them to it, but I don't want to get into the food industry for myself, knowing how hard it is. I feel it would be more fastlane to license the secret recipe to someone who has the ability to start a big franchise right away, for royalties or even for equity.
so the question is, can you license a recipe? if so, how would you go about finding someone who would be interested, and what kind of royalty could you expect to charge.
It may seem trivial to you but this shop was voted best doughnuts in my country, so maybe someone wants that recipe, I just don't know how to find them
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