The FTC recommends: (1) start by examining your own financial capabilities in light of the risks; (2) research and understand the marketplace of franchising, including the franchisor’s experience and the competition; and (3) assemble an informal panel of trusted advisors to help you make the decision.
When a franchisor is acquired by an investment banker or investment firm, several potential issues may arise for both the franchisor and the franchisees. Not all acquisitions lead to problems, but it's good to be aware of potential issues. Here are some concerns that may come up.
As in a lot of business methods, franchise myths seem to abound. Such myths harm both franchisors and franchisees.
Ultimately, the decision to start an independent business or buy a franchise will depend on your individual goals, skills, and resources.
Buying a franchise could be the best decision you ever make. But like with any major financial decision, there is much to consider before you make everything official.
Do you need to get out of a franchise agreement? Understand your agreement. Consult experienced franchise counsel.
On February 22, 2023, the United States Supreme Court clarified that if your partner commits fraud and becomes liable for damages, you, as a partner, are also liable. Most importantly, the damages may not be dischargeable in bankruptcy.
Caroline Fichter, a partner at Bundy & Fichter, recently received the prestigious Legal Eagle award by Franchise Times. This award recognizes outstanding lawyers in the franchising industry who have made significant contributions to the field and have helped shape the industry's landscape.
Most people are familiar with what a franchise is. Every time someone visits a McDonald’s or a 7-Eleven, they are patronizing a franchise, and they know it by the familiarity of the product offerings and the general look and feel of the operation—not only its physical layout but also its use of logos and other symbols or sayings.
