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.
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.
