Posts Tagged ‘Franchisee’
What to Pay Attention to in the Franchise Disclosure Document
When buying a franchise, the franchise disclosure document is one of the most important elements of the process, so it’s important to know what to expect and what to look for. What It Is The Federal Trade Commission requires all franchisors to provide this document and include 23 specific elements about the franchise, its officers, and franchisees. It’s this document that…
Read More5 Ways to Get Other People to Market Your Franchise
When you first open your doors, how will you let your community know you’re in the neighborhood? How will you market your franchise? Most marketing plans, in the beginning, consist of sending out flyers, putting out sandwich board signs or advertising in local publications. Although these are good, they’re all costly. One of the lesser…
Read MoreBuying a Franchise: How to Legally Protect Yourself
Purchasing a franchise is not only a large investment, but there are also several aspects of running a business that open you up to liability. Partner with experienced professionals throughout the process of buying and owning a franchise to ensure you are protected. As an experienced franchise lawyer, I work with both franchisees and franchisors…
Read MoreThe Pros and Cons of Owning Multiple Franchises
When you first open your franchise doors, you’re probably only considering opening one location. That’s the case for many franchise owners until they get a taste of the success that can come along with this career path. To continue the same success, many franchisees start to consider owning multiple franchises. Before you make your next…
Read MoreAvoid These 5 Mistakes New Franchise Owners Make
Considering opening a new franchise? You’re not alone. Franchise ownership is hot for a lot of reasons. You get to be your own boss, giving you more freedom and flexibility in your career. You also get a valuable head start when beginning your new venture because much of the market research, marketing and setup have…
Read MoreFranchisee: Red Flags When Signing a Real Estate Lease
For brick and mortar franchisees, securing your real estate transaction carries a significant weight on your future success. Not only is it a substantial investment, most of the time you are locked into a long-term lease. The terms in these leases can also bind you to extensive and expensive renovations if not done properly. As…
Read MoreGet to Know the Other Franchisees
As you move forward with your due diligence and continue to gather research on the variety of opportunities the franchise world has to offer, don’t forget to really spend time talking with the existing franchisees of the businesses at the top of your list. Investigating their experience with the business and learning about the process…
Read MoreThe Role of an Exit Plan as a Franchisee
Going through the purchasing phase of a franchise spikes the adrenaline and fills your mind with endless optimism. That’s great! You should be energized by your new endeavor. But let’s pause here for a moment. Do you plan to retire from this job? What are your long-term goals? Do you plan on pursuing other opportunities?…
Read MoreFranchise Success Rates
Choosing a franchise opportunity is a big decision, and big decisions are usually risky. So it’s natural to try to get some kind of idea of your chances of success before you take the plunge. Natural, but not easy. Ask Google about the success rates for franchises and you can find numbers ranging from 95%…
Read More5 Tricks for Due Diligence on a Franchise
If you’ve been exploring the waters in the world of franchising, you’ve come across the term “due diligence.” This marks the final phases of committing to purchase a franchise. By this point you’ve: Chosen a franchise model; Determined regional appeal; Completed market research and analysis. You’re convinced that this franchise is a business you want to…
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