Your franchise agreement is a contract that defines the rights and obligations of you and the franchisor. It is an essential document in establishing a successful and mutually beneficial franchise relationship. Unfortunately, not all franchise agreements are created...
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Year: 2023
When franchisors violate the protected territory of a franchisee
Buying into a franchise offers a variety of benefits. It takes much less to succeed when running a company as part of an established brand than it does to create one's own niche within a local market. Additionally, franchisors typically offer a variety of support...
How do you know when to decline a franchise opportunity?
Operating a business is a dream that many Minnesota residents share. Unfortunately, most lack enough financial resources to start from scratch and build a company and brand from the ground up. Investing in a franchise may help you achieve your business goals with less...
What is included in a franchise operations manual?
One of the most valuable tools provided to franchisees by a franchisor is the relevant franchise’s operations manual. This critical document serves as a comprehensive guide that helps ensure uniformity and consistency across the brand, no matter where a franchise is...
Why is uniformity required of franchisees?
As a franchisee, when running your location, it’s important to adhere to the rules and regulations set up by the franchise. Remember that uniformity is often required. You have to run your business in a certain way and you give up a large degree of creative control by...
4 leading causes of franchise disputes
From hotels and restaurants to gyms, tech and retail, franchise opportunities exist in pretty much every industry. And if you get everything right, buying into an already established brand can provide amazing opportunities for your entrepreneurship journey. At the...
2 ways franchisers may set franchisees up for business failure
When an entrepreneur wants to start a business with minimal personal risk, a franchise might seem like the ideal solution. They don't have to come up with their own business concept or products to start a successful franchise. All they really need is adequate capital...
On what grounds can a franchise agreement be terminated?
The relationship between a franchisor and a franchisee is, in many ways, similar to a marriage. It is meant to be founded on honesty, trust, and accountability. And just like marriage, it is not uncommon for a franchisor and a franchisee to have their differences. If...
What percentage of franchisees fail? Why do they fail?
Crazy faux statistics get circulated online all the time -- with no hard data to back up their outlandish claims. You may have heard the rumor, for example, that fewer than 5% of franchisees fail. In truth, the rate of franchisees that wind up shuttering their doors...
How carefully do franchisees need to watch for encroachment?
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...