What’s the Big Deal with General Releases?
What Are General Releases? When entering into a business relationship, it is important to consider the use of general (sometimes called legal) releases. A general release is a legally binding document in which one party (the releasor) agrees to waive their right to pursue further legal action against another party (the releasee), even if the […]
What Is the Role of a Franchisee?
What Is the Role of a Franchisee? The learning curve for a franchisee is much lower than a startup founder. Benefits abound. Just look at any McDonald’s franchise for confirmation of this fact. But before you put an initial down payment on a particular business model, review this convenient roadmap. It will help guide you […]
How to Read Your Franchise Disclosure Document
“I’m sorry, I don’t speak legalese. Only English,” stated the perplexed entrepreneur. Prospective franchisees can sometimes be intimidated by a certain legal document. The “terrifying” uniform franchise disclosure document. But before entering into any business relationship using your John Hancock, there’s a diligence process to follow. We’ll outline this method here. Let’s start you down […]
All About Franchise Fees
When you buy a franchise, you are buying the right to use a company’s name and its business model. In return for this license, you agree to pay the franchisor a fee. This is called a franchise fee, and it is one of the main sources of revenue for the franchisor. They can range from […]
Finding a Franchise
When it comes to starting your own business, many people think that the only option is to go it alone. However, this isn’t always the case. There are many franchise opportunities for those who are looking to be their own boss without all of the risk. Franchise owners can cut through much of the stressful […]
Tips Your Franchisor Forgot To Mention
Excitement runs high when operating your very first franchise. But as time goes on, hiccups may dim the light you initially felt. This is normal and shouldn’t lead to frustration. Knowing some hidden tidbits your franchisor may have missed during early talks can help. By the end of your reading expect your light to once […]
Franchise Agreement Terms To Pay Attention To: Part 1
Benefits abound when taking on established branding, processes, marketing, and other business activities from a franchise. It gives franchisees like yourself a solid foundation and allows you to then use your unique leadership style to grow the business. There’s just one thing. Before hiring an attorney to help you solidify an agreement, there’s some terms […]
Key Terms in a Commercial Lease
No matter what type of business you operate, if you need space for your offices, warehouse, retail store, or restaurant, your company will probably need to sign a commercial lease. Although you should always ask a qualified business attorney to review any lease agreement before you sign it, it is nonetheless important to understand the […]