How do you invest in a franchise successfully? The Franchise King, Joel Libava, has an excellent post with a Powerful 10-Step Checklist to Use Before you Buy the Franchise of Your Dreams. I love posts like the one Joel has written. His post has honest, straight-forward advice every person investing in a franchise should
Franchises Face Challenges as the Pandemic Continues
2020 has been tough. And with the pandemic continuing, unfortunately it does not appear the challenges will end for franchise businesses any time soon. Governors around the country, including Iowa, are issuing new shutdown orders. What are key considerations for franchises as 2020 closes and we head into the new year:
- Leadership. A
Multiple Unit Franchising Offers Rewards
Multiple unit franchising has the most risk but offers the most reward. In my experience, owning multiple franchise units allows you to harness the true power of franchising. The franchisees I see who are the most successful are all multi-unit owners. Substantial investment is required in order to purchase multiple units and should not be
Franchising in a Pandemic
This past week I had the opportunity to participate in the 43rd Annual Franchise Forum. As only one of two Iowa lawyers participating in this year’s Forum, it was an all virtual event for the first time in its history. The Forum is essentially the franchise lawyer bar association meeting. Every time I participate I
Do I Need a Registered Agent for my Iowa Business or Franchise?
There are no little things.
Corporations and limited liability companies in the State of Iowa are required to appoint a registered agent and office within Iowa to receive service of process. We are able serve as your business entity’s Iowa designee to accept official documents on your behalf such as original notices for lawsuits and
Look for Franchises that Deliver Consistent Success
Recently I reviewed a franchise offering for a prospective franchisee. This particular franchise made financial performance representations in Item 19 of the Franchise Disclosure Document (FDD). The financial performance representations revealed some impressive numbers at first glance. After all, the highest performing franchisee was earning in excess of million dollars per year. And the “average”
Franchisee-Centered Franchises
As a lawyer representing both franchisors and franchisees I have somewhat of an unique perspective on franchisor / franchisee relationships. Most franchise lawyers tend to represent one side or the other. But it is somewhat rare for a franchise lawyer to represent both sides. I have spent over two decades now reviewing franchise agreements. I
Don’t Use a Service to obtain a Certificate of Existence for Your LLC or Corporation
I recently formed a corporation and within a short time I received a flyer in the mail from a company operating as IA Certificate Service. The flyer (see a similar one from a Mississippi article) explained that the next step for me after filing my Articles of Incorporation was to obtain my
The Eighth Ingredient in Franchise Investing: Is there a Runway for Future Growth?
This is the final post in a series of posts on the Secret Sauce of Franchise Investing based upon an excellent article I read some time ago on what private equity likes to see before investing in a franchise. In this post I am highlighting the eighth ingredient which is whether the franchise has
The Seventh Ingredient for Franchise Investing: Successful Franchisees
I am blogging a series of posts on the Secret Sauce of Franchise Investing based upon an excellent article I read some time ago on what private equity likes to see before investing in a franchise. In this post I am highlighting the seventh ingredient which is whether the franchise has successful franchisees.
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