You have built a successful business and perhaps even have multiple business locations that are thriving. Out of the blue someone says, “You should franchise!” And the wheels start turning from there. You learn about the expected investment, hire a franchise attorney and complete your Franchise Disclosure Document (an over simplification for the purposes of
Franchise Law
Zoom Past Legal Zoom – Revisited
Years ago now I wrote a post called Zoom Past Legal Zoom. For years it has been one of the most read posts on this site and no post on the site has more comments. In that post I talked about how Legal Zoom does NOT give out legal advice and how the company’s…
Listening Could Help Avoid Business Lawsuits
A blog post came to me after talking with an acquaintance last night. The acquaintance initially asked me a question but he really didn’t want to hear my answer. Instead, he wanted to tell me his news. Rather than listen to me he just wanted to talk. That was fine and I let him do…
5 Reasons to Hire a Franchise Attorney
It goes without saying considering I am a franchise lawyer, but I agree completely with the Franchise King who offered his Top 5 Reasons to Hire a Franchise Attorney in a recent post.
In my experience a lot of prospective franchisees skimp on hiring a franchise lawyer to review their FDD and franchise agreement. Many…
Prospective Franchisees Need to Research Further Than FDD for Details
I read an interesting article from Entrepreneur on the Key to Understanding a Company’s FDD (franchise disclosure document). It’s an article I’d recommend prospective franchisees read but they better be prepared to go deeper if they really want to understand a Company’s FDD. The author recommends checking three key sections of the FDD:
- Item 3
…
Selling or Buying a Business: Pay Attention to Why Deals Don’t Close
Steve Sink wrote recently wrote a blog post on IowaBiz covering Why Deals do not Close. I recommend buyers and sellers of businesses to read the post. Fortunately, most of the deals I work on tend to close but from time to time there are issues with a deal or perhaps even litigation after a…
Careful Planning Necessary When Using Retirement Monies to Fund Startup Business
Accountant Joe Kristan of Roth & Co. has an informative post on the IowaBiz Blog discussing the dangers of using IRA retirement monies to fund a startup business. In the situation described, a would-be entrepreneur took about $320,000 from his 401K and rolled it into a self-directed IRA. From there, the entrepreneur invested almost…
Buying a Franchise: Consider Internet Retailing Encroachment
Franchisors often tout that they are selling an "exclusive territory" to a franchisee during the sales process. Franchisees generally want an exclusive territory because they believe this protects them from competition from other franchisees or the franchisor itself. But if you are a franchise who has been sold an exclusive territory, you better make sure…
Government Shutdown Teaches Lessons in Negotiation
I read an interesting blog post on the LexBlog Network from Tom Crane of the San Antonio Employment Law Blog called What We Can Learn from the Government Shutdown. The lesson Crane preaches that bullying tactics usually do not work very well in negotiation and tend to invite an equal response from the other…
Insight on Business – The News Hour with Michael Libbie
You can catch me tonight on the Insight on Business – The News Hour with Michael Libbie this evening at 5 pm on AM 1350-KRNT.
Michael and I will be talking franchise law and more.
It’s a great program you should check out. The show runs Monday-Friday each week at 5 PM.