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...
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Potential benefits of buying more franchise units
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...
The Giant Has Awoken: Franchisors in FTC’s Crosshairs
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...
Does someone need industry experience to buy a franchise?
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...
3 reasons some franchisees fail
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,...
4 key elements of a Franchise Disclosure Document
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...
The aftermath of franchise termination
For many entrepreneurs, opening a franchise business is the realization of a longtime goal. Hard work and sacrifice go into any type of business endeavor. However, the built-in benefits of owning a high-profile franchise are numerous, ranging from name recognition to...
What are the benefits of owning a franchise?
If you're looking into starting your own business, and you're considering buying a franchise location, you know that it comes with the loss of control. You have to sell specific products, your store has to look a certain way, your employees have to wear specific...
3 signs it may be time to end your franchise arrangements
Buying into a franchise can be a shortcut to business success. You get to make money off of an established brand with a loyal customer base. You benefit from investments made by the parent company into product development and advertisement, and you likely have a...
What’s happening with McDonald’s and Black franchise owners?
As a company, McDonald’s used to be lauded for marketing strategies to encourage Black business owners to buy into their franchise. Now, it seems like there may have been a lot of smoke and mirrors involved in their promises. A number of Black franchisees have...