Franchise agreements can be quite tricky, which is why it’s important to have an experienced lawyer in your corner to help you understand the terms. One of the most important things to consider is the franchise contract renewal. Most people take this for granted and that can impact them in the future. A franchise requires […]
It isn’t uncommon for prospective franchisees to look for ways and means of saving some money when they are about to venture into a new business. At this point of time, hiring the services of a franchise lawyer may seem like an undue expense, especially since you have so many other costs to take into […]
Regardless of the business you run or the industry you operate in, information technology will be an integral part of it. This makes it crucial for prospective franchisees to understand what is involved in the franchising IT agreements. Almost every franchise business will have certain software as well as information Technology Systems that need to […]
If you are considering entering the franchise business and have very strong entrepreneurial skills, you will be able to make a success of the venture. In addition to the right skill set, you need to be resilient, have presence of mind and the patient as well. Even a franchise business takes time to set up […]
Trust is a basic aspect of any franchise relationship; if you want to grow your business and widen your brand’s market reach, you need to work hard to gain the confidence of prospective franchisees. Here are some things a franchisor can do to gain the trust of franchisees: #1 Make sure that your business is […]
The business world can be unpredictable. Industries change, trends come and go, customer preferences change, and all of these factors can rattle even the most well-established business. Some franchises have holding power, so they’re able to withstand the competition and market changes. Others have a weaker foundation and are unable to last long, despite having […]
Most people enter into the franchise world with the intention to start their own business down the line. They don’t want to stick with franchising, rather just build up skill and get some experience trying their own venture. Many simply outgrow franchises because they feel stifled by them. However, there are some entrepreneurs that become […]
If you’re considering entering a franchise business, you’ve likely been bombarded with loads of information from the franchisor. This may boost your confidence and make you feel that you would be able to go through all this information yourself and make sense of everything in the agreement document. However, it’s important that you recognise the […]
Today, there is a wide variety of franchising opportunities in the country and in most cases; these provide a stable base for successful franchising ventures. When you choose to enter into a proven business system, you are provided support and all the tools needed to grow your business. However, it’s still important to keep in […]
Starting a business is very exciting and difficult. It is exciting because you get to have your best skills to clients and explore your potential as a business owner, and it is difficult because as you start and grow your business, you will need to add many additional skills to your resume. For example, if […]
Every prospective franchise buyer conducts a certain amount of research online about what the industry is all about, how it functions, what the risks and benefits of running a franchise business are and more. While all of these are important things, it’s also crucial to know what steps to follow to setup a franchise business. […]
It’s rare to find a franchise that isn’t on fixed terms and most first-time franchisees are so excited about their new venture that they don’t pay much attention to this aspect. Some franchise agreements have a specific initial term that doesn’t include any franchise renewal rights. However, there are some with fixed initial terms as […]
When you are purchasing a franchise, you need to focus on a number of important things; one of the most vital aspects is to make sure your personal wealth isn’t at risk. Every person has different circumstances and it’s why you need to assess these objectively and on the basis of the franchise business you […]
A large percentage of franchised businesses are operated from commercial premises; in most instances a third party landlord leases these directly to the franchisee. A franchisor may also take the lease which they then sublease to their franchisees. New franchisees generally negotiate new agreements; in the case of existing franchises the franchisees may just take […]
Running a franchise is no cakewalk. Like any other business, it involves investment, getting your financials right; you need to have passion as well as the determination to work hard if you want your venture to succeed. Here we discuss some common financials-related franchisee fails and steps you can take to avoid them: #1 Investing […]
If you are a franchise owner, it’s very likely your independence and entrepreneurial spirit has helped you set up your business and brought you to this stage. You are very well aware of how much dedication and consistently hard work it takes to ensure your franchise stays afloat and thrives. But running a business is […]
Buying into a franchise can be a great business opportunity for you to break away from the monotony of a regular job, but every franchise network has certain rules and regulations that have to be followed by all the franchisees. It makes good business sense to get some professional legal advice before signing on the […]
As a prospective franchise buyer, there are a number of things that you need to focus on. While all the paperwork may make the process seem very tedious and time-consuming, each of these documents has a specific purpose. Here we give you an easy checklist of documents you may have to sign when purchasing a […]
Many people that have 9-5 jobs dream of starting their own venture and becoming their own boss; and franchising seem like a very conducive option to them. While it’s true that franchising is a low risk and low-investment proposition compared to many other business options, it has its downsides as well. Just like any other […]
Many people are now veering towards the trend of moving out of the corporate grind and becoming self-employed; and in the current market landscape, franchising seems like a very conducive option. The financial risks are lower than embarking on an entirely independent business venture and you have a set format and business framework to function […]
