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Bundy & Fichter PLLC

Things to Consider Before Franchising Your Business

When we hear the word “franchise,” most likely the image of the Golden Arches and McDonald’s comes to mind. McDonald’s truly is one of the most successful franchises, with its presence now spanning the globe and generating billions in sales.

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Bundy & Fichter PLLC

Your Rights as a Franchisee

While the website Statista reports 753,770 franchises were operating in the United States in 2020 (with McDonald’s and 7-Eleven ranking one and two revenue-wise), Entrepreneur magazine’s 2022 Franchise 500 Ranking lists Taco Bell and the UPS Store as the best opportunities for new franchisees.

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Bundy & Fichter PLLC

NEW STATEMENT OF POLICY – TIME FOR COMMENT

The North American Securities Administrators Association (NASAA) recently released for comment a proposed Statement of Policy on questionnaires and other disclaimers in franchise documents. The deadline for comments is January 5, 2022.

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Bundy & Fichter PLLC

What You Need to Know About Franchising Your Business

In 2020, according to the website Statista, there were 753,770 franchise establishments in the United States, employing 7.49 million people. Under a franchise agreement, a franchisee can utilize the franchisor’s business model and ideas.

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Bundy & Fichter PLLC

Best Questions for Prospective Franchisees in Washington, Oregon and California

For a prospective franchisee, one of the best ways to learn about a franchise is to talk to current franchisees. Franchisors are required to list current franchisees and franchisees who have recently left the system in the Franchise Disclosure Document. Before purchasing a franchise, a prospective franchisee should contact as many current and former franchisees as possible.

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Bundy & Fichter PLLC

Beware of Boilerplate Disclaimers

If you are considering buying a franchise, you should beware of boilerplate disclaimers. They come in many forms.  Some are buried in the fine print near the back of a thirty-page franchise agreement.  Many are duplicated in a separate document back near the receipt in the FDD.

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Bundy & Fichter PLLC

Pandemic Franchise Opportunities?

It was inevitable.  The franchise sales engines have been spewing speculative claims about what we might call “pandemic opportunities”.  The story is that many restaurants (estimates range from 3% to 50%) will close permanently because of the pandemic and the corresponding recession.

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