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 Success
Nine Tips in Buying an Existing Business from a Legal Perspective
Buying an existing business is often a great opportunity for would-be business owners. It is a way to skip the early stages of business development and hit the ground running. However, before making any serious decisions, it is important to understand the legal implications involved in buying an existing business. There are many legal issues…
Are Franchise Agreements Really Negotiable? Discover the Truth
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…
Six Major Benefits to Prospective Franchisees in Having a Franchise Attorney Review the Franchise Disclosure Document
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)…
Four Top Things to Consider in a Franchisor when Buying a Franchise
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…
Is the Future Bright for Franchising in 2023?
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.
Is it Possible to Find a Franchise Side Hustle?
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?
Why the Franchise Industry Has it Wrong
I have reviewed hundreds of franchise disclosure documents (FDDs) and franchise agreements at this point in my career. And mostly, my review always solicits one question in my mind:
Do franchisors need these overwhelmingly restrictive franchise agreements?
Most FDDs and franchise agreements disclaim just about any real obligation to do anything on behalf of franchisees.
Private Equity Buying Up Small Businesses
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…
Greater Des Moines Partnership Annual Dinner: Mia Hamm on Achieving in Sports and Life
*This blog post was originally written for the Greater Des Moines Partnership.
I am fascinated by the mindset of high performers regardless of their profession. Because I am a sports nut, I am particularly drawn to the champion mindset of athletes. How are the very best able to achieve at such high levels? For…