I’ve been asked “How to spot a good franchise” 100’s of times in my 20 years in franchising. The answer has never changed in my mind… it depends… Check the Financial Performance You can certainly determine the ‘health’ of any franchise company by reviewing the legal disclosures in its Franchise Disclosure Document or FDD. After verifying you meet […]
Franchisees
Legalese in Leases: 10 Terms You Need to Know as a Franchisee
If you are purchasing a brick-and-mortar franchise for the first time and have never laid eyes on a commercial lease, the combination of the terminology, fine print and sheer magnitude of the commitment can be daunting. Even those who are familiar with commercial leases—whether from a previous franchise or prior involvement in real estate—show visible […]
5 Common Pitfalls for Franchisees and How to Avoid Them
Buying a franchise is an exciting endeavor. After you’ve asked yourself the important questions, determined what franchise you can afford and hired a franchise attorney to assist in the process, it’s full steam ahead. However, there are a few potential bumps along the road to look out for, such as: 1. The Brick and Mortar Build-Out Assuming your franchise requires […]
5 Common Pitfalls for Franchisees and How to Avoid Them
Buying a franchise is an exciting endeavor. After you’ve asked yourself the important questions, determined what franchise you can afford and hired a franchise attorney to assist in the process, it’s full steam ahead. However, there are a few potential bumps along the road to look out for, such as: 1. The Brick and Mortar Build-Out Assuming your franchise requires […]
5 Questions to Ask When Considering Franchise Ownership
Thinking of buying a franchise? Before you sign any papers, you need to be very thorough in your research about your prospect. Buying a franchise is a serious investment. When you sit down to talk to a potential franchisor, treat it like a job interview and have a series of questions prepared for them to […]
PLAYLive Lesson: Vetting Franchisees
The key to building a prosperous franchise is to place quality franchisees at the helm of your business. As a long-time franchise lawyer and part franchise owner, I cannot stress enough how essential this is for long-term franchise success. As we continue to grow PLAYLive, we have been continuously refining how we attract and screen […]
