The Entrepreneurial Lawyer’s Blog

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

June 22, 2018

3 Key Franchisee Considerations Before Signing a Multi-Unit Agreement

Signing a multi-unit agreement to buy several franchise territories can unlock fantastic savings on franchise fees and exponentially increase the opportunity for return on your investment. For example, if you agree to open up three pizza franchises, you will sign a standard franchise agreement for the first unit, and a separate multi-unit agreement to open all three units over a set period of time, usually at a discounted fee. You will also be required to provide notice to the Franchisor and execute two additional franchise agreements for territory two and three.  It sounds simple and straightforward, but there are a few potential pitfalls to be aware of before agreeing to buy multiple units.


April 25, 2018

How to Run a Productive Discovery Day

The term “Discovery Day” can be a bit misleading. While there is certainly an element of discovery in a prospective franchisee visiting your company and meeting stakeholders for the first time, Discovery Day is meant more to be the final step toward signing an agreement. You should go into it expecting to conclude with something along the lines of, “I’ll be sending out the final agreement tomorrow. We can then coordinate a signing time and begin the onboarding process.”


April 23, 2018

6 Discussions That Should Take Place Before Discovery Day

Think you’ve found a qualified and serious franchisee? Fantastic. The next step is to host a Discovery Day, where you will give this person an inside glimpse at running a franchise of your company and, ideally, conclude the day with a verbal confirmation that you will send them a final agreement to sign and become a franchise owner.