Maryland’s franchise law is updating. Previously under Maryland law, a franchisor’s FDD had to be delivered at the earlier of the first personal meeting held to discuss the franchise sale or at least 10 business days before the prospective franchisee signed a binding agreement with, or made a payment to the franchisor or an affiliate in connection with the proposed …
2010 Franchise & Business Opportunity Expo in St. Louis
Our attorneys were guest speakers at the 2010 Franchise & Business Opportunities Expo in St. Louis. Here are some photos of Lynne Shelton and Jason Power exhibiting at the trade show.
Good advice for apprehensive business owners
“The brick walls are not there to keep us out. The brick walls are there to give us a chance to show how badly we want something.” This quote came from Randy Pausch’s book The Last Lecture, and I think it fits for those business owners who are apprehensive about starting their own franchise. Sometimes I meet with a business …
How ownership of real estate as a franchisor can benefit you through royalties and lease payments
We have had a few questions about this topic. This is a topic that if the franchisor pays special attention to, that he or she can use as a basis for higher royalties and possibly lease payments. The actual question involved ownership of property where the franchisor could not decide between simply expanding through company owned units or using the properties …
Advice for Future Franchisors – Part 1
When we talk with business owners, many times they have questions regarding what they should be evaluating and thinking about when they are planning on franchising. This 5 part article is designed to focus the business owner on whether they can or should franchise, and if so, what they need to be working on to get ready. Franchising is not a …
Advice for Future Franchisors – Part 2
In part 2 of our “Advice for Future Franchisors” series, we discuss protecting your brand. Once you determine that your brand can be franchised, it is time to get to work. The very next step is to hire an Intellectual Property attorney to trademark your brand. We recommend trademarking the name and the service mark or logo for your franchise. …
Advice for Future Franchisors – Part 3
Next on the list of to-dos is all the prep work, a.k.a. paperwork. During the 18 months of evaluation on your trademarks, you need to spend time with a qualified Franchise Attorney. This work may also take months, but will vary widely from client to client. The prep work consists of all the documentation that is needed in a franchise …
Advice for Future Franchisors – Part 4
In part 4 of our Advice for Future Franchisors series, we discuss marketability. While the prep work discussed in part 3 of our series is being completed, business and marketing divisions must start concentrating on the desirability of the franchise. They have to determine, what segment of the business community will the franchisor market the franchise to? What skills did the Franchisor possess …
Advice for Future Franchisors – Part 5
In this, our final section in our Advice for Future Franchisors series, we will discuss legalizing your Franchise System and distributing information to potential franchisees. Now that you, the franchisor, have all your paperwork completed in a blue line (last edit version) give it all to a full-service Franchise Attorney. A good franchise attorney will evaluate all of the documents that …
Can your business become a franchise – Shelton & Power’s top 10 checklist part 1 of 2
We are constantly asked whether we think a system can become a brand. Whether a business is franchisable depends on many issues. Below is our Top 10 checklist to determine whether your business could become a franchise system: 1. Financial Security. Franchising is a low cost expansion method compared to other methods; however the cost is still there. Franchisors …