If you want to protect your investment in a franchise, don’t rely on verbal promises from the franchisor.
Why not? Because verbal promises are worthless if disputes arise. Verbal assurances from a franchisor representative might make you feel secure in the moment, but when challenges occur—like receiving less support than promised or discovering fees you
Entering into a franchise agreement can be an exciting and lucrative venture for many aspiring business owners. However, the path to successful franchise ownership is fraught with potential pitfalls. – just like opening your own independent business. As a franchise lawyer, I’ve observed several common mistakes that franchisees make, which can lead to significant financial
Contracts. The word alone might make you think of stacks of paper and endless legal jargon. But fear not! As your friendly Iowa business lawyer, I am here to break down the basics of contracts. By the end of this post, you’ll feel more confident in understanding the backbone of every business deal. Let’s dive
In the realm of business agreements, noncompete clauses have long been a subject of scrutiny and debate. These contractual provisions restrict individuals from working for or starting a competing business within a specified time frame and geographical area after leaving their current employment. While the Federal Trade Commission (FTC) has taken steps to limit the
Franchise agreements are the heartbeat of the franchise industry. They dictate the relationship between the franchisor and franchisee, outlining everything from branding and marketing guidelines to operational procedures and fees. Let’s be honest. These franchise agreements are VERY one-sided. No one denies it. So, it is not a surprise that many prospective franchisees ask, “Are
You’re convinced that owning a business is your true calling in life, and you decide to invest in a franchise. But before putting pen to paper, you should do your due diligence and understand all the risks and rewards that come with that decision. One essential step is to review the Franchise Disclosure Document (FDD)
Thinking about buying a franchise?
Franchises can be a great way to start your own business. They offer the benefits of being your own boss with the support and resources of a larger organization. But there are some things you need to think about before making the decision to buy a franchise including the financial
Last week I wrote about how the franchise industry has it wrong. But don’t misunderstand me, that doesn’t mean the future of franchising isn’t bright. In fact, the breadth of the franchising industry is pretty staggering.
You may want to own your own business but you also don’t want to quit your day job. Is it possible to find the elusive extra income to add to your bottom line and possibly even give you the freedom to quit your job in the future?
Really interesting article in this weekend’s Wall St. Journal on how private equity firms are buying up car washes and turning them into regional chains. There is a trend in private equity to buy up small businesses is to bundle the businesses in order to “roll-up” those businesses and find new ways for them to
