Start a Franchise | Franchise Law Blog

Category: Start a Franchise | Franchise Law Blog

How Much Should I Tell Potential Franchisees About Costs At A Franchise Trade Show?

Well first and foremost you must absolutely ensure that whatever information that you discuss and provide to prospective franchisees is disclosed in your FDD. The disclosure and information that Franchisors may provide to prospects is limited to the FDD. So if your FDD does not include financial performance representations then you cannot talk to prospects…

Category: Start a Franchise

Franchise Sales Success: The Two Questions that You Must Answer First

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… Are you a start-up or emerging franchisor and you feel an overall sense of confusion about franchise sales? …Do you feel like your franchise sales efforts may be “all over the place” and not focused? …When it comes to attracting potential prospects do you feel like there is so much potential but something is missing?…

Category: Start a Franchise

Are Franchise Brokers Good for Franchising and Emerging Franchisors?

When you speak to the founder of an emerging franchise system, much more often than not, you will find a genuine entrepreneur intent on creating a successful franchise system and a win-win relationship with his or her future franchisees. During the start-up and growth phase of a franchise system, these franchisor founders are faced with…

Category: Start a Franchise

Franchise Consultants, False Starts and Franchise Violations

In “A Franchise Consultant’s Legal Nightmare,” Janet Sparks at Blue MauMau discusses some of the legal issues that Christopher Conner and Franchise Marketing Systems may be facing regarding some of the franchise brands they represent. As I stated in my comment to Janet’s article, while I am not familiar with Christopher Conner or Franchise Marketing…

Category: Start a Franchise

Franchisors: Are Your Franchisees “Raving Fans”?

While franchisee failure may be inevitable for a select percentage of franchisees and, in may cases, may have nothing to do with the franchise system (i.e., a franchisee who refuses to roll up his or her sleeves and commit to hard work), one thing that this economic downturn has exposed is the fact that many…

Category: Start a Franchise

Franchisor Basics: Disclosure of Financial Statements

Under the Federal Franchise Rule franchisors are required to disclose their “Financial Statements” in Item 21 of the Franchise Disclosure Document. All financial statements must be prepared in accordance with Generally Accepted Accounting Principals (GAAP) and in all but an extremely limited number of situations involving a start-up franchisor, a franchisor’s financial statements must be…

Category: Start a Franchise

Start-Up Franchisors: What is the Right Franchise Fee and Royalty Structure for Your System?

For the start-up franchisor (and even established franchisors) determining the appropriate franchise fee and royalty structure for your franchise system is a critical task that will have long standing implications. The fee structure that you establish will serve as the primary source of revenue for your franchise system and will represent one of the most…

Category: Start a Franchise

Franchise versus Startup

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Now is as good a time as any to start a small business. The U.S. economy is gaining steam and unemployment is down to 5 percent. People have money to spend and are ready to invest. The question is: Should you start your own business from scratch or should you buy a franchise?

Category: Start a Franchise

Should You Choose a Franchise or an Independent Business?

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Owning a small business can be one of the most fulfilling personal and professional decisions you make.  Once you’ve decided to take the leap, you must answer the next question: would you prefer to own a franchise, or run an independent business? Both options have advantages and disadvantages.  

Category: Start a Franchise

What Future Franchisees and Franchisors Need to Know About the Term “Proven Franchise System”

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If you are researching the benefits of franchising, buying a franchise or starting a franchise, chances are that you have come across articles and promotional materials discussing the benefits of a proven franchise system. That is, prospective franchisees are advised that if they become a franchisee of  a particular franchise they will benefit from a…

Category: Start a Franchise

 

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