Waitr, a popular Louisiana-based food delivery service, has successfully stepped into the shoes of the unsuccessful Baton Rouge meal-subscription startup, Indie Plate. Taking over Indie Plate’s office space and hiring on all of their employees, Waitr has been gaining speed year by year. What makes one food startup more successful than another?
The answer may be more in-depth than having a unique service model or great food options. Food and restaurant startups often face unforeseen business law issues and fail for a lack of proper planning.
Spot your startup pitfalls early
Entrepreneurs often have the startup essential: a great idea. However, all too often they miss the target on sustaining that idea, growing it and protecting it from others.
It is essential for startups to consider:
- Real estate and property for a growing business
- Patents and intellectual property protection
- Employee rights and owner agreements
- Investors and equity vesting schedules
- Non-disclosure and non-compete agreements
- Business plans for scaling up
- Seeking adequate funding
- How to avoid misdirection or following lousy advice
Among these crucial business law planning elements are complex legal nuances and easy areas to forget.
An experienced business law attorney can help you plan for common startup pitfalls and watch out for your best interests along the way. Their advice can keep you focused on your great ideas – with a protected business behind you.