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Many entrepreneurs choose to operate franchises to decrease the risks that individuals face when starting a company. Many new business ventures fail in the first few years and franchises may be easier to run successfully in many cases. With franchises, people can buy...
Sometimes prospective entrepreneurs prefer franchising a business to starting one from scratch. There various reasons for this, for instance, the idea of investing in an already established brand with a proven business model that you can easily replicate and succeed...
Owning a franchise can be one of the quickest ways to dive into the broader business world. If you are a franchisee, you have instant access to an established brand and market. And if you are a franchisor, you earn from giving someone the right to benefit from your...
Franchising offers noteworthy benefits to both the franchisor and the franchisee. If you want to start a company under an established business name, using its products, knowledge and branding, consider this option. You may start with one location, but after gaining...
In his April 2023, Franchising column in the New York Law Journal, Dady and Gardner, P.A. attorney, Ronald Gardner, analyzes the FTC Rule and reflects on his predictions on how the consequences of franchisor behavior would result in relationship and control changes...
Contracts are the backbones of franchises. However, if a contract is breached, it can cause serious damage to your business, no matter what kind of franchise you operate. To better understand how a contract may be breached, here are some of the basics you should know:...
It's common for people to assume that those who start, manage or own a business in a particular industry will likely feel passionate about that specific focus. For example, those who start a bookstore may have had a lifelong obsession with literature or science...
Franchising has significant benefits, including operating under a brand already recognized, business assistance (training and knowledge) from the franchisor, easy access to suppliers, and many more. Further, franchises have a high success rate. However, some fail,...
Contracts are crucial when you run a business. As a franchisee, one of the most crucial will be your Franchise Disclosure Document. It covers 23 specific elements. Here are some of the most essential areas they cover: Who are you getting into business with? You need...
If you dive into the world of business, finding a “secret sauce” in your industry can mean the difference between success and barely getting by. Given that competitive advantage is often difficult to come by and may take time and effort, it is only sensible that you...