The Entrepreneurial Lawyer’s Blog

Stay connected with the latest commercial and business law news from Soden & Steinberger.


June 27, 2017

How to Read the FDD’s Financial Performance Representations

Let’s be frank for a moment. The Financial Performance Representations, item #19 in the FDD, carry serious weight in determining if you purchase a franchise. It addresses the burning question driving every prospective buyer, “How much will I make running this franchise?”

LEARN MORE

June 20, 2017

3 Franchise Growth Industries to Watch

As business men and women, we’re always on the hunt for the “next best thing.” But once we venture into the franchise world, we need to balance the necessity of a proven model without crossing the line into an outdated business plan. After all, no one would have wanted to buy into a Blockbuster franchise on the eve of Netflix and Redbox emerging into the marketplace.

LEARN MORE

May 23, 2017

Which Term is Right for Your Franchise?

Converting your thriving business into a profitable franchise will bring about a seemingly endless laundry list of decision-making. One you will need to face is setting the best term for franchisees. Franchise terms, the length of time you are allowed to operate the business, typically come in three different flavors: 5 years, 7 years, or 10 years. While I have seen some deviate, such as a 20-year term, most businesses abide with these timeframe standards.

LEARN MORE

May 22, 2017

Buying Multi Units in a Franchise—What You Need to Know

As you prepare to close the deal on your first franchise, you will be offered a one-time opportunity for purchasing additional units. This is the multi-unit agreement. To incentivize the purchase of additional units, franchisors oftentimes discount the second and third unit franchise fee up to 50% or more.

LEARN MORE