Destroying The Fake Information. 3D Render.
Hartono Creative Studio, Unsplash

I want to issue an important warning about an ongoing scam.

Fraudsters are using my name—and the name of a company called Business Consulting Services—to deceive people into sending money under the false promise of helping them sell or rent their Mexican timeshare or other real estate. I have written about this scam before here, but it continues to surface.

These individuals have falsely listed me as the CEO or, in some cases, as the attorney involved in transaction. Let me be clear: I am not affiliated with Business Consulting Services as the CEO, and this business does NOT engage in the sale or rental of Mexican real estate.

Do not send these scammers any money. It is fraud.

We have reported this matter to the FBI.

If you have been contacted or targeted, I encourage you to report it to the FBI’s Internet Crime Complaint Center (IC3) at www.ic3.gov.

Please protect yourself.

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Ian Schneider, Unsplash

Embarking on the journey of becoming a franchise owner is an exciting yet daunting prospect. For first-time entrepreneurs, diving into the world of franchising requires a comprehensive understanding of what goes into a successful franchise investment. The cornerstone of making an informed decision is conducting due diligence. Here’s a step-by-step guide to help you navigate this critical phase:

1. Understand the Franchise Disclosure Document

The Franchise Disclosure Document (FDD) is a vital tool that provides a wealth of information about the franchise. It includes details like the franchise history, fees, financial performance, and legal obligations. As a prospective franchisee, take the time to thoroughly read and understand each section of the FDD, and consider consulting with a franchise attorney to clarify any legal jargon and issues that are specific to franchises.

2. Evaluate the Franchisor’s Track Record

Investigate the franchisor’s history and reputation in the industry. How long have they been in business? What is their success rate? Does the franchise have a lot of terminations or transfers? Seek out testimonials from current and former franchisees to get an insider’s perspective on their experience. This research will help you gauge the stability and credibility of the franchise.

3. Conduct Market Analysis

Analyze the market where you plan to operate. Consider factors like competition, potential customer base, and local economic conditions. A thorough market analysis will help you understand the viability and growth potential of the franchise in your chosen location. Keep in mind that success in one region of the country does not necessarily mean it will be successful in your region.

4. Assess Financial Requirements

Understanding the financial commitments involved in a franchise investment is crucial. This includes the initial franchise fee, ongoing royalties, marketing contributions, and other operational costs. Create a detailed financial plan to ensure you have sufficient capital and a clear strategy for managing expenses. When you have significant expenses coming off the top each month it may be harder to achieve profitability.

5. Investigate Support and Training

A key component of a successful franchise is the support and training provided by the franchisor. Evaluate the training programs available and the level of support you will receive in terms of marketing, operations, and ongoing management. Effective support can greatly affect your success as a franchisee.

6. Legal Considerations

Engage a franchise attorney to help you understand the legal nuances of the franchise agreement. This covers areas such as territory rights, renewal terms, and termination conditions. Legal counsel will help safeguard your interests and ensure that you fully understand your obligations.

7. Conduct a Self-Assessment

Lastly, evaluate your own readiness and suitability for franchise ownership. Reflect on your skills, risk tolerance, and alignment with the franchise’s values and business model. This self-assessment will better equip you for the challenges and opportunities that lie ahead.

By methodically approaching franchise due diligence, new entrepreneurs can minimize risks and set the stage for a prosperous franchise journey. Taking these essential steps will empower you to make informed decisions that align with your business goals, ultimately leading you towards long-term success in the franchising world.

Low-angle view of the Montpellier courthouse, Montpellier (2k23)
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Let’s talk about frustration.

Not the kind you feel when your coffee spills on the way to a meeting. I am talking about the deeper kind—the kind that builds over months, sometimes years, during business litigation.

If you are in the middle of a business dispute—or headed into one—there are three truths you need to hear. They are not pretty, but they are honest. And if you understand them, you can navigate the storm without losing your head—or your business.

1. It Takes More Time Than You Think

When people file a lawsuit, they often picture a swift and decisive resolution. A few months. Maybe six, tops.

Reality is different.

Business litigation is not a sprint. It is a marathon run uphill, in the rain, with a backpack full of motions, hearings, and deadlines. Discovery alone—the process where both sides exchange information—can feel like a full-time job. And then there are the continuances, the court’s schedule, and opposing counsel’s tactics that stretch time like taffy.

Time drags, and with it, so does the weight of the case. That weight wears people down. You must prepare for the emotional toll as much as the legal one.

2. Even a Great Case Can Lose

Let me be blunt.

You might have the facts. The documents. You may have done everything right.

And still lose.

Judges and juries are human. Just like an umpire calling a strike two inches off the plate, they can get it wrong. The courtroom is not a math equation. It is a narrative, full of nuance and imperfection.

I have seen cases where the law favored our side and yet the result was disappointing. Not because the law failed. But because people interpret the law, and people come with bias, fatigue, and their own set of beliefs.

3. Litigation Is Expensive—In More Ways Than One

There is the obvious cost—attorney fees, expert witnesses, depositions, court reporters. But the hidden cost is often worse.

It is the missed business opportunities while you are tied up in a lawsuit. The sleepless nights. The time you are not spending on your customers, your team, or your family.

Litigation eats time, money, and attention. It is a slow drain, not a sudden blow. And many business owners underestimate just how much it takes.

What Do You Do?

You get real.

You walk into litigation with eyes wide open—not as a crusader out to win every point, but as a strategist focused on the bigger picture. Sometimes that means fighting. Sometimes it means finding a resolution.

But in every case, it means understanding the field you are playing on. You are not just arguing law. You are navigating human decisions, system flaws, and unpredictable timelines.

The more you prepare for that, the less frustration you will carry—and the more power you will hold.

If you are facing a business dispute and want someone in your corner who has seen it all—and who will tell it to you straight—let’s talk.

Writing with a fountain pen
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A business owner walks in with a pitch. He wants to “sell” you a piece of his company. The idea sounds solid. The opportunity feels right. You shake hands, cut the check, and walk away thinking you just became a business owner.

Then reality hits.

Nothing is in writing. No contract. No terms. No guarantees.

Was it an investment? A loan? A generous gift? You will not know until the other party decides to tell you—and by then, it might be too late.

I cannot tell you how many times I have seen this play out. People—smart, experienced, successful people—parting with six figures on a promise and a handshake. Friends, family, even complete strangers. And every time, I ask the same question:

Why?

It boils down to one word: trust.

We want to believe people will do the right thing. We want to avoid the awkwardness of asking for signatures and terms. We want to be the kind of person who does business on a handshake.

But here is the truth: A handshake is not a contract. A smile is not an obligation. A promise is not proof.

So respect your business partner. Trust them, even. But before you invest a dime, do one simple thing—get it in writing. Because trust is great, but a signed agreement is better.

I have written about this before, but I recently learned that fraudsters are using a client’s business name and impersonating me in documents to deceive unsuspecting property owners of Mexican real estate, especially golf course properties.

The FBI has issued warnings about these types of scams.

Stay vigilant. Always verify the identities of the parties you do business with. Conduct thorough due diligence, investigate any red flags, and seek guidance from legal counsel, accountants, or financial advisors before proceeding.

Businessman opening a paper
Adeolu Eletu, Unsplash

Starting a business isn’t for everyone.

Here are five of the top qualities I have noticed in my most successful business clients.

1. Resilience

Your ability to endure punches—and keep swinging—is your most valuable asset. The market will test your patience, your stamina, and your confidence. If you crumble at the first sign of difficulty, business ownership will feel like torture. Resilience is not optional. It is the price of admission.

2. Vision

A business without a clear vision is like a ship without a rudder. You must know where you are going and why it matters. Your vision gives you purpose when challenges arise and guides your decision-making when opportunities knock. Without it, you are just reacting to the world instead of building something meaningful. Most of the top business owners I represent are locked in on a vision.

3. Self-Discipline

Let’s be honest: there are no bosses in entrepreneurship to tell you what to do. If you cannot hold yourself accountable to your goals and commitments, the freedom of owning a business becomes a trap. Self-discipline allows you to trade short-term comfort for long-term success.

4. Adaptability

Markets shift, customer needs evolve, and new competitors emerge. If you cling to a rigid playbook, you are writing your own demise. Adaptability is your secret weapon. The faster you adjust, the quicker you turn challenges into opportunities.

5. Humility

You will not have all the answers, and that is okay. Surround yourself with people smarter than you, have complementary qualities and always keep learning. Pride might win an argument, but humility builds a business over the long term.

Starting a business is not about having the perfect idea; it is about becoming the person who can execute it.

When you build the right foundation, the rest is just execution.

Cute piggy bank
Fabian Blank, Unsplash

Buying a franchise will cost you more than the high end of the investment range disclosed in the Franchise Disclosure Document (FDD).

Let me explain.

Buying a franchise is a major financial decision. It is not just about covering the initial franchise fee and build-out costs. To set yourself up for success, you need to think beyond the numbers you see on the glossy brochure or the FDD.

Here is the truth: you need to have the high end of the investment range for your chosen franchise plus at least one year of living expenses.

Why? Because profitability takes time.

The FDD Investment Range Is Just the Beginning

Every franchise system lists an investment range. It usually includes the franchise fee, equipment, leasehold improvements, initial inventory, and other startup costs. But here is the thing: most of these ranges are just that—estimates.

For example, the FDD might tell you that starting a location will cost between $150,000 and $300,000. That is a big gap. Do not make the mistake of planning for the low end. Instead, always assume your costs will land at the high end.

Why? Because unexpected expenses pop up. Maybe your local market has higher construction costs. Maybe you need extra inventory because demand surges after your grand opening. Or maybe you need to hire additional staff to meet customer needs.

If you only plan for the low end of the range, you risk running out of cash before your franchise even gains traction.

Covering Your Living Expenses

Now let us talk about living expenses. This is where many franchisees falter.

When you open a franchise, your business will likely not generate a profit immediately. In fact, it might take 6, 12, or even 24 months to reach profitability, depending on your industry. During that time, you still have personal bills to pay, rent or mortgage, utilities, groceries, insurance, and maybe even childcare or student loans.

If you do not have at least one year of living expenses saved up, you may feel immense financial pressure. And that pressure can lead to bad decisions, like cutting corners, overextending yourself, or even giving up on your business altogether.

Think of it this way: having a financial cushion allows you to focus on building your franchise without worrying about how to pay your own bills. It buys you time and peace of mind.

The Ramp-Up Period

Every franchise has a ramp-up period. This is the time it takes to build your customer base, streamline operations, and start seeing consistent revenue. During this period, you are likely reinvesting most, if not all, of your earnings back into the business.

Marketing costs, employee training, equipment maintenance, and operational adjustments can eat into your early revenue. That is normal. What is not normal is expecting to take home a paycheck in those early months.

The smartest franchisees understand that success takes time. They plan for a year—or more—of lean personal finances while their business gets off the ground.

Why the “High-End Plus One Year” Rule Works

The high-end investment range ensures you are not caught off guard by unexpected costs. The one-year living expense rule ensures you can focus on your business without added stress. Together, these two financial principles create a solid foundation for your franchise journey.

This approach also positions you to take advantage of growth opportunities. Maybe a competitor closes shop, and you have a chance to expand. Maybe your franchisor rolls out a new initiative, and you want to be first in line to implement it. Having financial flexibility allows you to seize these opportunities.

Wrapping It Up

So, how much money do you need to buy a franchise?

Enough to cover the high end of the investment range and one year of living expenses.

It might sound like a lot. But it is nothing compared to the stress of being underfunded.

Remember, the goal is not just to buy a franchise. The goal is to build a successful one. And that starts with being financially prepared. Plan for the high end of the investment range and add a year of living expenses.

And set yourself up for success.

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Riley McCullough, Unsplash

When Diego Pavia, currently a quarterback at Vanderbilt University, stepped off the JUCO field for the last time, he likely never imagined his name would headline one of the most talked-about court rulings in college sports history. Yet, here we are, with Pavia’s legal battle against the NCAA setting the stage for a seismic shift in the way student-athletes are treated and how eligibility will be determined. The story of how a scrappy quarterback took on the NCAA isn’t just about his fight—it could mean huge changes for JUCO athletes, college programs, and the entire ecosystem of collegiate athletics.

Pavia Challenged the NCAA-JUCO Eligibility Determinations

Pavia, like countless other JUCO athletes, dreamed of making it big. After an impressive stint at his junior college, he ended up have a great year at Vanderbilt, and proved he could compete with the best. He’s not considered a top NFL prospect though and wants to play another season at the D1 school. But the NCAA had other plans. Pavia was ruled ineligible to play for the 2025 season because his time at a junior college was counted as part of the four seasons of intercollegiate competition allowed within five years, even though JUCO schools are not NCAA members. The NCAA counted time spent at a junior college as part of the four seasons of intercollegiate competition allowed within five years, even though JUCO schools are not NCAA members.

In the past, this would have been the end of the road. Many athletes have lacked the resources or the time to fight the NCAA’s rulings. But we are in the NIL age where college athletes now have significant resources at their disposal. Plus, Pavia wasn’t just any athlete. As a starting D1 QB in the SEC, this is a livelihood decision. With the help of his tenacious legal team, he decided to challenge the NCAA’s decision.

Times Have Changed for the NCAA and College Athletics

The NCAA isn’t just an organization; it’s an empire. With decades of precedent, deep pockets, and a well-oiled legal machine, they’re not accustomed to losing. For Pavia, going up against the NCAA is like trying to run through the Georgia defense with no blocking. His lawyers argued that the NCAA’s eligibility requirements were not only outdated but fundamentally unfair, disproportionately affecting athletes from JUCO programs and smaller schools. They also emphasized that denying Pavia eligibility would cost him the opportunity to earn over $1 million in NIL deals and build his personal brand as the starting QB at the SEC school.

The NCAA countered with their usual playbook: maintaining that their rules are necessary to ensure fairness and integrity in college sports. They pointed to the “slippery slope” argument, claiming that overturning Pavia’s ineligibility would open the floodgates for other athletes to demand exceptions, including players seeking seven-year collegiate careers by combining JUCO and Division I play.

Pavia’s team painted a picture of a system that punishes the very athletes it claims to protect. The NCAA, in turn, tried to frame the case as an attack on the sanctity of their rules. But Chief U.S. District Judge William L. Campbell saw it differently. He referred to Division I football players as a “labor market,” recognizing that they provide services in a commercialized manner akin to professional athletes. He also recognized the JUCO experience is not anything like the D1 experience for these athletes.

A Game-Changing Ruling

In a ruling that sent shockwaves through the sports world, the court sided with Pavia. The judge granted an injunction, allowing him to play in the 2025 season. More importantly, the ruling set a precedent that could reshape the landscape of college sports.

For JUCO athletes, the implications are enormous event though the current ruling only applies to Pavia. The ruling acknowledges the systemic disadvantages they face and opens the door for more athletes to challenge the NCAA’s decisions. It also puts pressure on the NCAA to revisit their eligibility requirements.

But the ripple effects go beyond JUCO players. College programs are now on high alert, realizing that their recruitment strategies and roster decisions could be impacted by similar legal challenges. The ruling also emboldens athletes across all levels to advocate for themselves, knowing that the courts may be willing to intervene.

What’s Next?

The modern college sports landscape increasingly resembles professional sports, with players engaging in endorsement deals, sponsorships, and other commercial transactions. Campbell’s ruling indicates that eligibility rules denying players the chance to compete and earn NIL opportunities could face intense antitrust scrutiny, especially since such rules are agreements among NCAA member institutions that restrain competition in a labor market.

The NCAA now faces a choice: double down on their outdated rules or embrace the wave of change that athletes like Pavia are demanding. Either way, one thing is certain—college sports will never be the same.

As for Diego Pavia, he’ll suit up in 2025 with the opportunity to secure seven-figure NIL deals and a renewed sense of purpose. His victory has already inspired other athletes to file similar lawsuits, aiming to capitalize on the precedent he set or to pressure the NCAA into revising its rules. One thing is clear: the landscape of college athletics is undergoing a dramatic transformation, and the era of rigid control by the NCAA is giving way to a new, uncharted frontier.

Black and red flags against a blue sky
Christer Ehrling, Unsplash

Not all franchise opportunities are worth the risk.

Franchising has become a popular path to financial independence, promising a proven business model and support from an established brand. With over 15,000 new franchise units expected to open annually, it is easy to get swept up in the excitement of becoming your own boss. However, not all franchises deliver on their promises, and the consequences of a bad investment can be devastating.

For many, buying a franchise is one of the largest financial commitments of their lives, often involving life savings or a significant loan. The stakes are high, which is why it is critical to go beyond the glossy marketing materials and dig deeper into the franchise opportunity. The success—or failure—of your investment hinges on your ability to spot red flags early and make an informed decision.

So, how do you separate the winners from the losers? It starts with understanding the red flags that could derail your franchise journey.

Why Red Flags Matter

Franchising offers undeniable benefits if done right: a recognized brand, a proven system, and ongoing support. But these advantages vary widely from one franchisor to another. While some brands prioritize franchisee success with robust systems and transparent operations, others operate with little regard for the people investing in their business.

A solid franchise system includes detailed training programs, ongoing operational and marketing support, and a collaborative relationship between franchisor and franchisee. When these elements are missing, it is a sign the franchisor may not have your best interests in mind.

Unfortunately, the shiny promise of owning a franchise often blinds buyers to the potential pitfalls. This is why it is crucial to approach every franchise opportunity with skepticism and a commitment to thorough due diligence.

Spotting the Red Flags

The Franchise Disclosure Document (FDD) is your first line of defense. This document, required by law, contains critical information about the franchisor’s business practices, financial health, and obligations to franchisees. However, the FDD can also reveal glaring red flags that are easy to miss if you do not know where to look. Franchise Wire had a good article with an expert panel that discussed these red flags and provided some helpful advice.

Jamie Davis of ApplePie Capital advises starting with FDD Item 3, which outlines the franchisor’s litigation history. Multiple lawsuits involving franchisees could signal a toxic culture or poor relationships between the franchisor and its partners. Next, focus on Item 20, which provides data on franchise openings, closures, and projected growth. A high closure rate could indicate trouble.

Another critical step is speaking with current and former franchisees. Justin Waltz of The Junkluggers highlights the importance of transparency: “Legitimate franchisors should be able to provide clear, detailed financial information to demonstrate how they generate revenue and reinvest in the business to enhance the franchise owner experience.” If a franchisor refuses to provide such information, consider it a red flag.

Other warning signs include:

  • High turnover rates: If franchisees are leaving the system in large numbers, there is likely a deeper issue with the business model or support system.
  • Unrealistic financial projections: Be wary of franchisors that promise outsized returns without providing evidence to back up their claims.
  • Insufficient training and support: Aaron Harper of Rolling Suds warns against franchisors that scale irresponsibly without the infrastructure to support new franchisees.

A successful franchise relationship is built on trust and mutual success. Jake Feury of Stretch Recovery Lounge emphasizes that the best franchisors care about your success more than their own profits. If you sense that the franchisor prioritizes their own gain over helping franchisees succeed, walk away.

The Resolution: Do Your Homework

So, how do you avoid these pitfalls and find the right franchise opportunity? It all comes down to preparation. Here are the steps you should take:

  1. Scrutinize the FDD: Pay special attention to Items 3 and 20 as mentioned above, but do not stop there. Review the entire document, or better yet, work with a franchise lawyer to ensure nothing is overlooked.
  2. Validate with Franchisees: Speak to at least five current and former franchisees. Ask about their experiences with the franchisor, the level of support they received, and whether they would make the same investment again.
  3. Trust Your Instincts: Harvard Business Review suggests that combining gut feelings with analytical thinking leads to better decisions. If something feels off, investigate further.
  4. Evaluate Support Systems: Stacey Heald of Pvolve underscores the importance of robust support, including training, marketing, and operational guidance. Ensure the franchisor has a team dedicated to helping franchisees succeed.
  5. Look for Transparency: A good franchisor will have nothing to hide. If they are unwilling to share detailed financial information or avoid answering your questions, consider it a dealbreaker.

Closing Thoughts: Protect Your Investment

As a franchise lawyer, I have seen both the successes and the failures in franchising. The difference often comes down to preparation and asking the right questions. Franchising can change your life—but only if you invest with your eyes wide open.

Do not rush the process. Take your time, do your homework, and trust your gut. It is far better to walk away from a bad deal than to get stuck in a partnership that does not support your success.

Franchising offers incredible potential, but only if you choose wisely. The power is in your hands.

Businessman opening a paper
Adeolu Eletu, Unsplash

Franchising is booming.

Private equity firms are snapping up franchisors faster than ever. Recently, we have seen Jersey Mike’s secure a massive $8 billion private equity deal and Freddy’s Frozen Custard and Steakburgers now reportedly exploring a sale. The stakes are high, the money is flowing, and the pace of change is staggering.

But here is the catch: your Franchise Disclosure Document (FDD) due diligence and franchise agreement review have never been more critical.

The Allure of Franchising

Franchising has always been a unique path to entrepreneurship. For aspiring business owners, it offers the ability to plug into a proven system, leverage brand recognition, and access the support of an established organization. That is why savvy investors and budding entrepreneurs alike flock to franchises, hoping to stake their claim in a growing market.

This appeal is amplified in the current landscape. Private equity sees opportunity, and for good reason. These firms excel at scaling businesses, refining operations, and driving returns. When private equity enters the picture, growth often accelerates—but so do risks for franchisees.

It is a high-stakes game.

The Problem Nobody Talks About

Here is one rule to live by: never rely on oral promises from a franchisor.

Why? The franchisor you shake hands with today might be sold to private equity tomorrow. And let me be clear—private equity has zero obligation to honor any handshake deals.

Imagine this: You meet with your franchisor’s representative, and they promise you exclusive territory rights or flexible payment terms. It feels great. You trust them. But that promise does not make it into the franchise agreement. Six years later, private equity steps in, restructures operations, and invalidates any unwritten assurances.

Legally, they can do that. And ethically? That is up for debate.

In fact, even before such a sale, most franchisors’ lawyers will flat out say: “If it isn’t in the agreement, it doesn’t exist.”

Let that sink in.

The Solution is in the Details

This is why your FDD and franchise agreement are tools for protecting yourself.

The FDD is your roadmap. It details the franchisor’s financial health, legal history, obligations to franchisees, and—most importantly—your rights as a franchise owner. Yet many franchisees skim it or, worse, rely on a franchisor’s verbal reassurances.

Do not make that mistake.

Scrutinize the franchise agreement, too. This document is the final word on your relationship with the franchisor. Every promise, every protection, every potential risk must be spelled out in black and white. If it is not, you are exposed.

And let us be real: in this booming M&A environment, your diligence is not just about understanding the deal you are signing—it is about anticipating the deal the franchisor might sign tomorrow. Private equity firms are not in the business of protecting legacy relationships; they are in the business of maximizing returns.

That means everything from royalties to operational requirements could change once they are in charge. If your agreements are vague or reliant on good faith, you are the one left holding the bag.

Protect Yourself

Here is the bottom line: in franchising, what is written in ink is what stands. Everything else? It is just noise.

The private equity boom is not slowing down, and neither is the pace of franchising M&A activity. As an entrepreneur, you must rise to the occasion. Read the FDD. Scrutinize the franchise agreement. Seek expert guidance such a franchise lawyer and accountants.

Because in this high-stakes world, your due diligence is not just a box to check—it is the shield that protects your investment.

Franchising is booming.

Are you ready?