For the last 40 years, Entrepreneur Magazine has released its Franchise 500 List, ranking the “best” Franchises in America. They rank them based on Five Pillars: Costs & Fees, Size & Growth, Support, Brand Strength, and Financial Strength & Stability. The giants at the top aren’t much of a surprise, with McDonald’s, Dunkin’, and Taco … Continue Reading
Last May we announced that we were a part of a pilot program the Iowa Secretary of State’s office launched for fast track filing of limited liability companies (LLCs) and corporations. I am happy to report that the filing system has worked like an absolute gem. Now it is truly more convenient than ever to … Continue Reading
I recently had the distinction of reviewing a franchise agreement for the very first prospective franchisee in a franchise. My review revealed there were still many issues to work out in the agreement and with the system in general to make it reasonable for the franchisee. But the potential opportunity was very intriguing to the … Continue Reading
I am excited to announce that I have been a part of a pilot project through the Iowa Secretary of State’s office which now enables our law firm to offer online fast track limited liability company (LLC) and incorporation filing services. Now it is more convenient than ever to get the legal assistance you need … Continue Reading
This article on how 5 Successful Owners Tell How They Spot and Run a Successful Franchise is from Australia but just because it is from “Down Under” doesn’t mean the words of wisdom aren’t applicable in the United States. One of the better ideas I took from this article is the importance of local engagement. … Continue Reading
I recently saw an interesting TED talk on how to be a great leader from Simon Sinek. In the talk he told a story about a business owner who refuses to fire any employees for poor performance. Instead, the company coaches their employees to perform better. Imagine if franchise operations followed the same philosophy and … Continue Reading
The restaurant business is a tough business. One of my friends was a banker. As a general rule, he would not loan to restaurants. Why? Because as a general rule the failure rate for restaurants is higher than most businesses. Recently there have been several restaurant closings in the Des Moines area that has spurred … Continue Reading
As my clients probably noticed this year, the Iowa Secretary of State increased the corporate biennial report fees for Iowa Corporations in 2018 from $30 for online filing to $45. Iowa LLCs will have the same increase in 2019. My understanding is that the increased fees is an effort to pay for business technology upgrades. … Continue Reading
The #DSMUSA business community had the distinct opportunity to listen to Barbara Corcoran of Shark Tank fame at their Annual Greater Des Moines Partnership Dinner. For me, the talk was extremely insightful and also confirmed many of the lessons I have tried to teach on this blog and to clients over the years. I have … Continue Reading
For this week’s franchise post I thought I would share an interesting article from Joel Libava a/k/a “The Franchise King”. Joel recently wrote his Top Franchise Trends and Predictions for 2018. It is really an insightful look at the industry and a good read for franchisors and prospective franchisees alike. One of the more interesting … Continue Reading
I have received a number of calls recently about starting a franchise operation. On the one hand, it is awesome because the interest in franchising among Iowa business owners definitely seems to be growing. But on the other hand, most of these business owners are not ready to begin the leap into franchising just yet. … Continue Reading
I often see cases involving the theft of confidential business information by former employees. Attorney Eric Roth has some helpful tips in a recent blog post on how to deal with the problem. The main take away reminder in my opinion is to take action to protect your trade secrets BEFORE it becomes a problem. … Continue Reading
I came across this blog post from the Family Business Advocates Blog and thought it was worth sharing. The post describes the various roles of shareholders, directors and officers in closely held family businesses. It’s good information on a topic that is often misunderstood by small business owners. Read the post here.… Continue Reading
Governor Branstad announced his proposed budget yesterday with $110 million in cuts. This includes $7.7 million in budget cuts for the judiciary. The budget cuts in the judiciary are alarming. Today, Chief Justice Mark Cady will give his state of the judiciary address. It will be interesting to hear his comments based upon the fact … Continue Reading
Several Brick Gentry lawyers were recently recognized by Best Lawyers in America® for 2016-2017. See the full article here. Rush Nigut was named one of the Best Lawyers in America® in three categories including: Business Organizations (including LLCs and Partnerships) (Firm receiving a Tier I rating); Closely Held Companies and Family Business Law Franchise Law … Continue Reading
Laird Hedlund Nossuli, CEO, and Bernard Nossuli, COO will join Mike Colwell for the September edition of Square One DSM Startup Stories to share the tale of a vision conceived and brought to life by company founder and Laird’s late father Dennis Hedlund. I have had the good fortune of working with this company and … Continue Reading
There is a really good article in the Des Moines Register today written by Frank Mokosak discussing how a periodic review of your estate plan will alert you to any necessary changes. It seems to come in waves in my legal practice but recently I have had a number of clients need to change their … Continue Reading
In the Des Moines Register today there is an article about a food truck franchiser that allegedly got cross-wise with investors and franchisees. The article shows just how critical it is to perform due diligence when it relates to franchises (or any other business opportunity). I have a number of posts available I have written … Continue Reading
I normally try to avoid political issues and discussion because really it does me no good. I am sure to tick someone off because I have clients who are on both sides of the aisle and some that are not political at all. But since the Iowa Caucuses enjoy first-in-the-nation status, I’ve decided to join … Continue Reading
People often mistakenly believe that non-compete agreements are not enforceable in Iowa. Sometimes people think that because Iowa is a “right to work” state that means non-competes are not valid or other times people may have “heard” non-competes aren’t valid. Neither is correct. Non-competes in Iowa are enforceable in Iowa under appropriate circumstances. But recently I … Continue Reading
This coming year will be the 10th anniversary of Rush on Business. When I first started the blog I wrote articles 5-6 times per week, worried about my search rankings constantly and did everything I could to get my articles linked with other blogs. I have been one of the fortunate ones in the blogging … Continue Reading
Typically you will find the Executive Director of Entrepreneurial Initiatives for the Greater Des Moines Partnership asking the questions at entrepreneur luncheons. But this time Mike Colwell will be the one on the hot seat. This will be a great luncheon discussion as Mike will be interviewed by Tej Dhawan (an accomplished entrepreneur and community leader in … Continue Reading
I found this article from Entrepreneur Magazine interesting regarding several franchises that are now offering delivery (some franchise on this list and others do not). The most successful franchises are continually evolving and adapting their concepts to meet consumer demands. What about your franchisor? Are they evolving and adapting?… Continue Reading
I am often asked about business grants for women and minorities. In my experience these grants can be difficult to come by but they do exist. Here is an article from Entrepreneur discussing grants for women-owned businesses and also a link to the Targeted Small Business site with the Iowa Department of Economic Development.… Continue Reading
