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
When considering buying a franchise, one factor stands out as particularly critical to your success: franchisor support. Franchisor support can make or break your franchise journey, providing the necessary guidance, resources, and assistance to help you thrive. Here’s how to effectively assess the level and quality of support offered by a franchisor.
Thinking of diving into the world of franchising? Hold your horses! Before you jump in, it’s essential to do your homework. Here are seven must-do steps every savvy franchisee should follow to ensure they’re making a well-informed decision.
The FDD is your franchising bible. It’s packed with vital
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
Starting a business can be a daunting task, but franchising has become a popular choice for entrepreneurs who want the benefits of owning their own business with a proven model, as well as support from the franchisor. However, not all franchisors provide the support franchisees need to operate a successful business. In this blog post
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.
