“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 … Read more
There’s no doubt that lawyers and law firms which have embraced AI and legal tech are ahead of the curve. If you’re looking for an efficient way to run your business, work with lawyers and law firms who are using AI to their advantage. At Reidel Law Firm, we’ve been using AI for franchise agreement … Read more
When most people think of franchising, they think of fast food chains like McDonald’s and Burger King. But franchises come in all shapes and sizes, from car washes to wedding planners. In fact, there are more than 3,000 different types of franchises in the United States alone. So what is franchising? Simply put, franchising is … Read more
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 … Read more
The grand opening was going spectacularly well. Lined up two rows deep, waiting customers didn’t know Dale personally. But what they did know was the familiar logo on the large sign visible from downtown. As a franchisor, this is the picture you hope each new franchisee experiences. But before revenue starts flowing, it’s worth making … Read more
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 … Read more
While bankruptcy is not a pleasant topic to discuss, it is prudent to at least understand the process, implications, and ultimately the benefits of utilizing a business or personal bankruptcy for distressed businesses. Franchisees facing extreme economic hardship should take careful note of the benefits and costs to a business bankruptcy and understand the terminology, … Read more
Managing franchise relationships is a key indication of how successful a franchise system will be. Every franchise system is only as strong as its weakest franchise franchisee and that relationship is paramount to succeeding as a franchisor. While being proactive as a franchisor can quell any potential franchise relationship issues early on, what are the … Read more
Protecting Your IP as a Franchisor As you build your franchise system and brand, protecting your intellectual property from imitators, rogue franchisees, and even inadvertent infringement is imperative to a successful and growing franchise. The trademarks and brand are an essential element to what makes a franchise system attractive to potential franchisees and even your … Read more
Why Have a Professional Review My FDD? Typically one of the first questions I hear from any potential franchisees reaching out to Reidel Law Firm to inquire about the FDD review process. Franchisors, in my experience, will recommend that they have the FDD reviewed by an attorney but will then qualify it by saying that … Read more
