Below you'll find a list of all posts that have been tagged as “franchise”
Making a pitch to get funding for your business can be a frightening situation. What happens if your lender doesn’t believe that your business can be successful, or perhaps they don’t think you can execute on the plan? Having a top-notch business plan presentation can make the difference between getting the capital that you need and being turned away from …
When you hear the term goodwill, what do you think? There are a lot of things that make up your company’s goodwill, such as your corporate identity or image, the quality of your product, the relationships you maintain with suppliers and customers, as well as the conduct of your management and other employees. Basically, you should think of your goodwill as the …
A multitude of factors need thorough consideration before choosing to become a franchisee. Depending on what type of franchise opportunity you wish to pursue, one of those details may involve negotiating a lease agreement for your store. Because three parties have needs and risks, this can become quite a tangled process. What potential difficulties might you expect as you scout …
As a business owner, you studied, planned, borrowed (probably), worked hard and developed a successful, repeatable business model. Perhaps you already sell franchises or have arrived at the point where you know you should. With the entrepreneurial spirit deeply ingrained in the American culture, you’ll receive many requests for information about your franchising opportunities. How often do potential investors ask if you offer a “starter kit” or scaled …
When you start shopping around and comparing franchise opportunities, how you’re going to exit the business is probably the last thing on your mind. Unless you really want to spend the rest of your life running the same business, it’s useful to start considering how you might transition into something else after your business becomes successful enough to run without …
A Franchise Advisory Council (FAC) is a committee of franchisees who, together, provide the franchisor with input as well as insight on how to improve the system. Generally, a group of franchisees, which are those that operate a location under the franchise agreement, come together to create this type of panel. It provides outstanding advice and guidance to the franchising …
Every component of a franchise contract is important. However, there are some portions of the franchise disclosure document that seem to be more valuable to understand than others. For example, Item 19 of the franchise disclosure document is one of the most important, and most complex, sections. It is essential for anyone entering a franchise agreement to understand, though. So …
When it comes to the creation of a franchise agreement, some areas are open for negotiation. The two most common areas that are being negotiated in these agreements are territory and the ability to transfer the franchise and include it in estate planning decisions, and trusts. Negotiation is possible in other areas of the franchise agreement, but some franchisors may …
Buying a franchise could be a lucrative opportunity for you. However, if you fail to take a few specific steps, it could lead to a significant risk. Potential franchisees are not experts in the legal transactions in most cases. That’s why having a bit of background information and support can help you ensure this process goes as smoothly as possible. …
Anyone who owns a business and is thinking about turning it into a franchise needs to understand the kinds of challenges they’ll be facing. As a franchisor, you must understand the laws, rules and regulations that affect you and your franchisees. In order to have that understanding, you want two things: perspective on the issue and proper legal representation. With …
