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.
3 Considerations for Buying a Restaurant Franchise in Philadelphia
May 31, 2022 - Blog by Goldstein Law Firm |While local residents have always known Philadelphia as a food town (and while the city is renowned worldwide for its cheesesteaks), the city has only recently gained broader recognition as a gastronomy hub. This recognition has attracted several new franchised and independently-owned franchises over the past few years. If you are thinking about buying a restaurant franchise, here are three important considerations from Philadelphia franchise attorney Jeffrey M. Goldstein.
Buying a Franchise in Your 30s: What Do You Need to Know?
May 27, 2022 - Blog by Goldstein Law Firm |While various sources report that most franchisees are in their 40s and 50s, franchise ownership is becoming increasingly popular with Millennials. In other words, if you are thinking about buying a franchise in your 30s, you are not alone. In fact, the Franchise Times recently published an article highlighting “[a] new wave of investors . . . storming the franchise mergers and acquisitions game,” all of whom are in their 30s.
What is a Reasonable Territory for a Franchisee in New York City?
May 25, 2022 - Blog by Goldstein Law Firm |In most parts of the country, franchisees negotiate territories measured in miles. But, in New York City, a territory with a several-mile radius could effectively provide protection for the entire city. So, if you are buying a franchise in one of the five boroughs, what can you reasonably expect in terms of your “protected” or “exclusive” territory? New York City franchise lawyer Jeffrey M. Goldstein shares his thoughts.
E-Sports: The Next Frontier in Franchising?
May 20, 2022 - Blog by Goldstein Law Firm |The Franchise Times recently reported Unleaded Brands’ acquisition of XP League, an e-sports franchise concept. According to the publication, XP League “blends traditional youth sports with video games,” and has expanded to more than 20 company-owned locations since its founding in 2020.
Hiring Considerations for Chicago Franchisees in 2022
May 18, 2022 - Blog by Goldstein Law Firm |The labor market is posing significant challenges for many franchisees in 2022. This is especially true in large cities like Chicago. When franchisees can’t hire, they can’t run their businesses effectively, and this means they risk losing customers, revenue and potentially even their franchise rights. So, what can franchisees do given the current state of affairs? Here are some insights from Chicago franchise attorney Jeffrey M. Goldstein.
Should You Buy Into a Foreign Franchise System Targeting U.S. Expansion?
May 13, 2022 - Blog by Goldstein Law Firm |One of the biggest challenges for any business is offering a popular product or service while also standing out from the crowd. To succeed, businesses need to strike just the right balance between familiarity and novelty—and this is one of the reasons why franchising is so popular. Strong franchise systems offer a recognizable brand coupled with unique (often proprietary) and in-demand products and services.
Buying a Franchise in Chicago? Don’t Overlook These Five Key Contract Terms
Apr 29, 2022 - Blog by Goldstein Law Firm |There are lots of important factors to consider when buying a franchise. While most prospective franchisees will pour over the numbers and spend hours evaluating potential locations, relatively few give due consideration to the terms of their franchise agreement. As Chicago franchise agreement lawyer Jeffrey M. Goldstein explains, this can prove to be a costly mistake.
Facing Franchise Termination In Illinois? Know Your Rights
Apr 27, 2022 - Blog by Goldstein Law Firm |Lots of franchises fail. While some franchisees simply aren’t cut out for business ownership, more often than not, franchisees’ lack of success is due to factors beyond their control. This includes factors their franchisors can control but either: (i) choose to handle poorly; or, (ii) fail to handle effectively due to poor leadership or organization. As an Illinois franchise lawyer, this is a fact that Jeffrey M. Goldstein knows all too well.
Is It a Good Time to Buy a Business Services Franchise?
Apr 22, 2022 - Blog by Goldstein Law Firm |Many former employees have taken the leap to start their own businesses during the COVID-19 pandemic. Additionally, while some businesses have struggled (and are continuing to struggle) due to the pandemic’s economic effects, others are struggling to keep pace with pandemic-generated demand. With this combination of factors in mind, is now the perfect time to invest in a business services franchise?
