- Curiosity, Not Conviction: Too many prospective franchisees approach with a checklist, focusing on what
Are You Ready to Reach Out? The 3 Key Mindsets Before Contacting a Franchisor
Top 3 Steps to Take BEFORE You Search for a Franchise
Rushing into franchise ownership without preparation is a costly mistake.
To avoid buyer’s remorse, you need to be deliberate in your approach. Here’s how:
1. Self-Assessment: Know Your Strengths and Weaknesses
Before browsing franchises, evaluate your skills, interests, and financial situation. Too often, people pick franchises based on potential profit, not realizing they lack the
5 Key Questions to Ask When Evaluating Franchise Opportunities
Choosing the right franchise is crucial. Getting it wrong can be financially devastating.
1. What Is the Franchisor’s Track Record?
A franchise with a strong history of success is likely to continue performing well. Look at how long the franchise has been in business and how many units are thriving. A proven track record can
Don’t Fall for the Trap: Why Verbal Promises from Your Franchisor Are a Recipe for Disaster
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
FTC’s Non-Compete Ban Set Aside: What’s Next?
A Texas District Court ruling setting aside the FTC’s non-compete ban has sent ripples through the business and legal communities today. For many employers, this decision is undoubtedly seen as a reprieve from the potential upheaval the ban could have caused. However, the ruling also underscores the ongoing debate about the future of non-compete agreements
4 Reasons Why Every Employer Needs to Read “Notices Under FTC Rule on Noncompetes: What Should I Be Doing Now?”
- Stay Ahead of the Curve
The Importance of Negotiating Exclusive Territory in a Franchise Agreement: A Case Study of Des Moines, Iowa Metro Area
When purchasing a franchise, one of the most critical aspects to consider is the size and protection of the territory you will be operating in. Securing a territory that limits competition from other franchisees within the same brand can be the difference between a thriving business and a struggle for market share. This is particularly
Five Benefits of a Single-Member LLC for a Small Business Owner
Starting a small business involves making crucial decisions, one of which is choosing the right legal structure. For an individual small business owner, a Single-Member Limited Liability Company (LLC) is an excellent option. This structure provides a blend of flexibility, simplicity, and protection that can be highly beneficial, especially for those venturing into business for
5 Biggest Mistakes Franchisees Make: Insights from a Franchise Lawyer
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
11 Legal Struggles Business Owners Face: A Guide for Navigating Complex Challenges
Running a business comes with a myriad of challenges, and among the most daunting are the legal hurdles that can arise at various stages of the business lifecycle. As a business lawyer, these are some of the common legal struggles I often see business owners face:
1. Business Formation and Structure
Choosing the right business