Franchise Gator recently released its 2021 Top Franchises List. Its list is somewhat unique from other franchise reviews in that it includes not only the site’s top-ranked franchises but also its three “Top Franchise Categories of the Year.”
In February 2020, we published an article titled, Is There Really Such a Thing as a Recession-Proof Franchise? While we would like to say that this was prescient, the reality is that it was simply a coincidence. However, what is not a coincidence is that the Franchise Business Review recently published a list of its Top 100 Recession-Proof Franchises. As the publication explains, the list “look[s] at today’s top franchise brands with the highest owner satisfaction and the greatest opportunity to perform in these historic times.”
Luxembourg-based JAB Holding Co. recently announced that it will be combining Panera Bread, Caribou Coffee and Einstein Bros. Bagels under its newly-formed Panera Brands. As reported by the Franchise Times, “the goal is to spread the expertise at the top across all brands and make major investments in technology and growth easier to digest . . . [and t]he infrastructure that helped Panera become a dominant fast-casual cafe will help ‘turbocharge’ growth for Caribou and Einstein.”
While most franchisees are individuals, couples or small groups business partners, some are not. In fact, the biggest franchisees are multi-billion-dollar corporations. The Franchise Times recently released its “Restaurant 200” list ranking the biggest franchisees in the restaurant sector. Here, franchise attorney Jeffrey M. Goldstein discusses some notable takeaways from the Franchise Times Restaurant 200.
With new variants spreading rapidly and vaccination rates remaining below what is necessary to gain control of the virus, the COVID-19 pandemic is continuing to play a major role in the way that many franchisees conduct business. Franchisees must make difficult decisions about whether (and to what extent) to impose restrictions and requirements, and they must do so while receiving guidance that seems to shift on a near-daily basis. They must take their franchisors’ requirements into account as well.
You want to own your own business, and you are considering a franchise as an alternative to starting from scratch. But, is buying a franchise worth it? Or, will the fees consume your profits (and potentially more)? Here are some insights from national franchise attorney Jeffrey M. Goldstein:
You own a franchise, and you are ready for more. You’ve gotten comfortable operating within the franchise model, and you are now at a point where you can rely on your employees to manage the business’s day-to-day operations. So, you are thinking about opening franchise number two. What do you need to know? Here are five important business and legal considerations from franchisee attorney Jeffrey M. Goldstein:
Many franchisors are making major changes to their systems in 2021. While most view these changes as being necessary in light of the economic and cultural impacts of the COVID-19 pandemic, they often carry a hefty price tag, and it is franchisees who are being forced to foot the bill. If your franchisor is implementing major updates, do you have to comply? What if you cannot afford to do so? Franchisee lawyer Jeffrey M. Goldstein explains:
The Franchise Times recently reported on a survey conducted by the Coalition of Franchisee Associations. According to the publication, the Coalition of Franchisee Associations collected responses from “just shy of 700 franchisees,” the majority of whom own five or fewer locations. The survey responses shed light on a number of prevailing concerns, as well as some general trends in the franchise industry. Franchisee attorney Jeffrey M. Goldstein shares his thoughts below:
Selecting a franchise involves a unique blend of considerations. On the one hand, you want a well-established brand with a proven track record of helping franchisees grow successful independent businesses. On the other, you need to make sure your franchise is relevant by today’s standards, and you need to know that your franchisor isn’t going to fall behind the times. With this in mind, is an “emerging” franchise a good investment? In this article, franchise attorney Jeffrey M. Goldstein shares his thoughts: