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.
Starting a business isn’t for everyone.
Here are five of the top qualities I have noticed in my most successful business clients.
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
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
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
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
A Texas court has issued a nationwide preliminary injunction against the Corporate Transparency Act and the “Reporting Rule” implementing it. The judge stated in his ruling that the Act and the Reporting Rule are likely unconstitutional and the compliance deadline of the end of the year is stayed.
Read the full Order from the Judge
I recently took a call from someone eager to buy a restaurant franchise.
They were excited, optimistic, and ready to take the plunge. The idea of owning their own business, working for themselves, and controlling their destiny had them fired up. They had done some research, run the numbers, and figured they were ready to
In an era of increasing sophistication in scams, fraudsters have found a new tactic: exploiting real business names and lawyer identities, likely scraped from Secretary of State websites or public records, to bolster their credibility. This scheme not only tarnishes reputations but also endangers unsuspecting victims who may unknowingly engage in fraudulent dealings.
I recently
A client recently asked for my thoughts on a new franchise they are considering.
When it comes to franchising, there is a unique allure to being one of the first. You imagine the chance to “get in on the ground floor,” to ride the wave of a promising new concept. But investing in a new
Exiting a failing franchise is not easy.
When a franchise struggles to deliver expected returns, franchisees often wonder if they can negotiate an exit from their ongoing obligations, especially the requirement to continue paying royalties. Franchise agreements are complex, one-sided documents that make severing ties without repercussions challenging. Many franchisees quickly discover that the
