As we close the books on a year unlike any other, we look ahead to a year that offers equal parts hope and uncertainty. What 2021 has in store remains to be seen; and, while we cannot predict the future, what we can do is reflect on the lessons we have learned throughout the year that was.
In 2020, we published numerous articles on our blog covering a wide range of topics pertaining to the legal aspects of buying and owning a franchise. In addition to articles that touched specifically on the challenges presented by the COVID-19 pandemic, we published several evergreen resources for prospective and active franchisees as well. Here is a look back at 10 of our top posts from the year:
1. Is There Really Such a Thing as a Recession-Proof Franchise?
In a moment of prescience, we published an article titled, Is There Really Such a Thing as a Recession-Proof Franchise?, before the COVID-19 virus began to take hold in the United States.
2. A.I. in Franchising: What Do Franchisees Need to Know?
Before the pandemic forced businesses to immediately shift their focus to finding new and innovative ways to serve their customers remotely, artificial intelligence (A.I.) was widely viewed as one of the next big things in franchising. Could we see a renewed focus on A.I. in 2021?
3. COVID-19 has Killed My Business – May I Legally Terminate My Contracts?
When the COVID-19 pandemic first took hold, many franchisees (and other business owners) understandably had questions about the contractual implications of the crisis. One question in particular that even garnered short-lived mainstream attention was whether the pandemic constituted an event of force majeure.
4. Should You Consider a Franchise if You Were Laid Off Due to the Coronavirus Pandemic?
As people began losing their jobs to the pandemic, we saw a spike in interest in franchising. In response, we published: Should You Consider a Franchise if You Were Laid Off Due to the Coronavirus Pandemic?
5. Ultimate Guide to Franchise Litigation for Franchisees
Taking a break from pandemic-specific considerations, in July we published our three-part Ultimate Guide to Franchise Litigation for Franchisees. This is intended as a go-to resource for franchisees who have questions about resolving disputes with their franchisors:
- Ultimate Guide to Franchise Litigation for Franchisees – Part 1
- Ultimate Guide to Franchise Litigation for Franchisees – Part 2
- Ultimate Guide to Franchise Litigation for Franchisees – Part 3
6. Checklist: What Do You Need to Do Before Buying Franchise?
For individuals who are thinking about buying a franchise, there are many factors to consider and many steps involved. In August, we published a checklist intended to help guide prospective franchisees through the preliminary stages of the buying process.
7. Five Reasons Why Franchises Fail
Whether you own a franchise or are thinking about becoming a franchisee, it is important to have a clear understanding of why franchises fail.
8. Should You Accept Coronavirus Relief from Your Franchisor?
Getting back to issues related specifically to the COVID-19 crisis, at the end of August we published an article discussing the trend of franchisors offering coronavirus relief to their franchisees.
9. Attorney Jeffrey M. Goldstein Named “2020 Power Lawyer” by Lawyers of Distinction
In September, we proudly announced that firm founder and franchise attorney Jeffrey M. Goldstein had once again been selected as a Power Lawyer by Lawyers of Distinction.
10. The COVID-19 Crisis is Having a Major Impact on the Franchise Industry
As the year began to draw to a close, we started to get a much clearer picture of the pandemic’s impact on the franchise industry. As reported by the International Franchise Association, “COVID-19 . . . caused a staggering amount of business closures and layoffs across franchise businesses,” including more than 11,000 permanent franchise closures in just the first six months. For more information, you can read International Franchise Association (IFA): The COVID-19 Crisis is Having a Major Impact on the Franchise Industry.
Contact the Goldstein Law Firm | Nationwide Legal Representation for Current and Prospective Franchisees
At the Goldstein Law Firm, we exclusively current and prospective franchisees and dealers. If you are thinking about buying a franchise, or if you are facing a dispute with your franchisor, we invite you to call 202-293-3947 or contact us online to schedule a free consultation.