The Entrepreneurial Lawyer’s Blog

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


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.

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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.

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April 20, 2017

Franchise Fees—What to Expect

The franchise fee varies between franchises, but aspiring franchisees need to have a general idea of what to expect when it comes to covering the initial fee. In my experience, the average franchise fee range is between $25,000-$50,000 for a single unit.

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April 3, 2017

Franchisees—Understanding Your Exit Strategy

You need an exit strategy. It’s as plain as day, yet most new franchisees never address the idea of leaving their business one day. All the excitement centers on opening and growing. It’s a different, but mandatory, approach to open their franchise unit with the end in mind.

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