DEFINITION OF A FRANCHISE EARNINGS CLAIM What is a franchise earnings claim? As a prospective franchisee, you want to know how much money you can expect to generate from the franchise business in which you are investing. A franchise earnings claim is any information...
Firm News
Which States Are Franchise Registration States?
If you are a new franchisor, you must be aware of not only the federal franchise law that requires disclosure of certain information to a prospective investor in a franchise, but you must also be aware of state franchise laws. You must know which when you are...
franchise attorney or local business attorney
Understanding of franchise law I often get asked by a prospective franchisee client why they should use experienced franchise attorneys like those at Lanard and Associates and not their local business attorney. My answer is very simple. The local business attorney...
What Is The Difference Between A License And A Franchise?
What is the difference between a license and a franchise? Many people confuse a trademark license and a franchise. Even attorneys who are not experienced in the niche area of franchise law may find it confusing to differentiate between a trademark license and a...
Four Steps To Validate A Franchise Opportunity
Before you invest in a franchise opportunity, it is important to take the following four steps to validate the franchise opportunity: CALL FRANCHISEES THAT ARE IN THE SYSTEM This is an important initial step in validating a franchise opportunity. The franchisees that...
Top 10 Questions To Ask When Buying A Franchise
What Are The Top Ten Questions To Ask When Buying A Franchise? I always recommend that individuals looking to buy a franchise ask several questions. The first step to validate a franchise is to speak with existing franchisees of that system before moving forward....
Florida Small Business Parity Act –
Florida Senate had recently passed SB 1076 known as the Florida Small Business Parity Act. The Florida Small Business Parity Act is an attempt by the Florida legislature to ensure that Franchisees owning a Franchise are on a more even playing field with their...
New Accounting Rule ASC 606 Will Greatly Impact Franchisors And Consultants
Rule ASC 606 The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board recently jointly issued rule ASC 606 known as “Revenues From Contracts With Customers”. ASC 606 has the potential to dramatically change the franchise...
What Is Florida Senate Bill 750?
BACKGROUND Florida Senate Bill 750 has taken one step closer to becoming law. Known as The Protect Florida Small Business Act, Florida Senate Bill 750 would greatly impact both franchisors and franchisees doing business in Florida. Senate Bill 750 would change the...
Franchised Business Vs Independent Business Ownership
Statistics Many articles have been written on the success of owning a franchised business vs an independent business. Years ago an article appeared on About.com stating that franchised businesses have a success rate of about 90% as compared to starting a new...