A commercial lease can be an essential part of getting your business to the next level. Whether you are looking for your first brick-and-mortar location or you need to expand your footprint, leasing commercial property can help you develop your business. Often, a...
Year: 2020
A brief history of franchise law
I bet you are wondering why a sewing machine is the cover image of an article on the history of franchise law. Keep reading to learn more. Over the centuries, people developed the concept of franchising to expand businesses in a way that could spread risk among the...
A franchise lawyer is different than a business attorney in important ways
While all franchises are businesses, hiring a general business lawyer to handle franchisee issues can be a costly mistake. A knowledgeable franchise lawyer will have extensive experience with state and federal franchise laws, understands a franchise disclosure...
What happens during a commercial lease review?
Establishing a new location for your business is an exciting time, and many franchisees may feel tempted to sign a lease without fully understanding the details or without negotiating changes to the legal terms that can have a critical future impact on the business....
Common franchise red flags
While a franchisor has certain disclosure obligations that are required by federal and state laws, they are also interested in selling their franchise. In some cases, a franchisor may paint an unrealistic picture of what owning a franchise in their system is like....
Three lease issues of concern
One of the benefits of buying a franchise is that there is often business guidance and support for launching the business. Nonetheless, there are some issues that the owner or franchisee should be mindful of before he or she signs a contract. This caution allows them...
Evaluating a promise of earnings
Investors who buy a franchise should be wary of a franchisor’s guarantee of making a large amount of money quickly. Nonetheless, the franchisor may disclose information about potential sales and income known as an earnings claim or financial performance representation...
Why an economic downturn may be a good time to become a franchisee
Even though recessions cause economic hardship in general, franchises are relatively resilient to the effects. According to Entrepreneur.com, economic downturns can even benefit franchisees. If you’re considering becoming a franchisee, here’s why 2020 might be an...
Can landlords evict business tenants these days?
Much has been written about the plight of residential tenants who were unable to pay their rent during the shutdown. Less has been said about the business owners who had to let their employees go, modify their products and services in some way, or shut down with no...
Territory pre-planning is a must
It is crucial for franchisees to understand the importance of territory pre-planning when working with franchisors before they head into a new market. It is an easy-to-avoid mistake for a franchisor to divide up a city by districts or even blocks with little regard...