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
Let’s get down to brass tacks. The main reason Republican lawmakers in Iowa are looking to change the way Iowa judges are selected is because they want protection for social issues like an anti-abortion bill they hope to pass this legislative session and due to the Iowa Supreme Court decision in Varnum from several years … Continue Reading
A major area of our trial and business law practice consists of non-compete and trade secrets law. We hear all the time from people that believe Iowa is a “right to work” state so that means non-competes are not upheld under Iowa law, right? Wrong. Non-competes are upheld in cases where the scope and duration … 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
If you’re not a risk taker, you should get the hell out of business. – Ray Kroc I read the above quote today, and wondered, is this true? Do you really need to be a risk taker to be in business? And, if you don’t take risks you should actually get the hell out of … 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 had the distinct pleasure of being interviewed by Joel Libava (aka “The Franchise King”) for his exclusive article on buying a franchise. It was a fascinating article for me as well because Joel interviewed fellow franchise lawyers Charles Internacola and Josh Brown. They really had some great insights you won’t want to miss. If you … 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
A year ago I joked that I didn’t know the governor (Branstad at the time) and the legislature could cut another $7.7 million from our judiciary. While my comment was tongue-in-cheek, my worries were not. Our Iowa judiciary is facing challenges like we have never seen before. And it’s showing. The US Institute for Legal Reform … Continue Reading
You want to start a business in Iowa. Do you really need a lawyer? My answer may surprise you. Absolutely not! Every day, many entrepreneurs do exactly that by using online incorporation kits. There is definitely a segment of the market these incorporation companies serve. The most obvious motivating factor for setting up a corporation … 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
2017 was a watershed year for the publicity of sexual harassment claims. Time Magazine even named its “Person of the Year” as the Silence Breakers. Business owners should expect those claims to become even more prominent in 2018 as the masses, not just celebrities, begin to break their silence as well. Just yesterday, I saw … 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
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
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 a recent case decided against AAMCO, a former franchisee and his spouse defeated a non-compete claim. The Florida franchisee had sold his AAMCO franchise after 21 years and opened a new business more than 90 miles from his former franchise location. The non-compete prohibited the franchisee from opening up a competing business within 10 … 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
