5 Mistakes to Avoid as an Early-Stage Franchisee
Jul 22, 2022 - Blog by Goldstein Law Firm |You did it. You got through the process of buying a franchise, and you did everything you needed to do to open your franchise on time. You are officially open for business as a franchisee.
Is Now a Good Time to Buy a Real Estate Franchise?
Jul 20, 2022 - Blog by Goldstein Law Firm |While rising interest rates have put a slight damper on the housing market, now is still a very good time to sell a home. In many markets, homes are still going under contract at the asking price (or above) within 24 hours of listing. With the potential for the Federal Reserve to raise rates even higher, many buyers are also still seeking to get in on the action before it is too late.
How is the Franchise Industry Doing in 2022?
Jul 15, 2022 - Blog by Goldstein Law Firm |If we’ve learned anything in 2022, it is that we need to expect the unexpected. Just when it seemed like things were starting to get back to normal, a new set of challenges threw a wrench into most people’s and businesses’ plans for the new year. But, according to a recent report from Franchise Direct, the franchise industry—as a whole—is thriving. Revenues are up, more businesses are franchising, and the industry’s overall economic impact is bigger than ever.
If Your Last Franchise Failed, Should You Buy Another One?
Jul 13, 2022 - Blog by Goldstein Law Firm |You bought a franchise, and your franchise failed. You weren’t able to generate the revenue you needed, and you were forced to shut down without experiencing the growth—and income—you anticipated. But does this mean franchise ownership isn’t for you? Or does it mean it’s time to try again? These are complicated questions. Ultimately, whether you should consider buying another franchise depends on two primary factors: (i) whether you know why your franchise failed, and (ii) whether you have the financial stability to invest in another outlet.
Cannabis Franchises Continue U.S. Expansion Despite Lingering Federal Uncertainty
Jun 30, 2022 - Blog by Goldstein Law Firm |While political division in Congress continues to serve as a roadblock to the passage of federal legislation legalizing cannabis in the United States, cannabis franchises are continuing to push forward with expansion. Currently, the Marijuana Opportunity Reinvestment and Expungement Act (MORE Act) is pending before the Senate, but similar bills have failed in the past. The growth of the legal cannabis industry in the United States through franchising could help spur legislative action, but at this point, significant uncertainty remains—this is true even in New York where recreational use has been legalized at the state level. Here are some more insights from New York City franchise lawyer Jeffrey M. Goldstein.
Franchise Direct Publishes 2022 Business Services Franchise Industry Report
Jun 28, 2022 - Blog by Goldstein Law Firm |Franchise Direct recently published its Business Services Franchise Industry Report for 2022. The report contains some notable data and insights for individuals who are thinking about buying business services franchises this year. Here are some of the highlights from Chicago franchise attorney Jeffrey M. Goldstein.
10 Terms You Need to Know to Understand Your FDD and Franchise Agreement
Jun 23, 2022 - Blog by Goldstein Law Firm |If you are thinking about buying a franchise, you will need to familiarize yourself with some basic legal terms in order to understand the Franchise Disclosure Document (FDD) and franchise agreement. Here is an introduction to 10 key terms from national franchisee attorney Jeffrey M. Goldstein.
“Hot” Franchise Concepts Headline 2022 IFE
Jun 21, 2022 - Blog by Goldstein Law Firm |The 2022 International Franchise Expo (IFE) recently took place in New York City. In an article recapping the event, the Franchise Times notes that several “hot” concepts debuted at the show. While “hot” concepts make for good headlines, are they sound investments for prospective franchisees? National franchisee lawyer Jeffrey M. Goldstein shares his thoughts.
Is It Safe to Buy a Franchise if the Franchisor is in Litigation?
Jun 16, 2022 - Blog by Goldstein Law Firm |In a recent article on the Franchise Direct blog entitled, “Litigation and Complaints Shouldn’t Always Stop You from Buying a Franchise,” the author makes the case for digging deeper if you have concerns about a franchisor’s public reputation or private litigation. While this is sound advice, it is important not to discount the risks of getting into a business relationship with a franchisor that is dealing with lawsuits, as national franchise attorney Jeffrey M. Goldstein explains below.
7 Signs You Should Walk Away from a Franchise Opportunity
Jun 14, 2022 - Blog by Goldstein Law Firm |Choosing a franchise is a long and time-intensive process. Once you invest your time and resources in evaluating a particular brand, it can be difficult to walk away. But, sometimes you should walk away, as the time and resources you have invested to date are nothing compared to what you stand to lose in the future. Here are seven signs you should walk away from a franchise opportunity from national franchise lawyer Jeffrey M. Goldstein.