Is Owning a Franchise a Good “Flex Job?”
Apr 15, 2022 - Blog by Goldstein Law Firm |A recent article on Franchise Direct discusses workers’ growing desire for flexibility and posits that “a franchise might be the best flex-job ever.” The article goes on to discuss many of the reasons behind workers’ desire for flexibility and suggests that “franchising fits the bill” in many cases. But, as national franchise attorney Jeffrey M. Goldstein discusses below, there is a big difference between owning a franchise and collecting a paycheck while working from home.
What Can You Expect from Your Franchisor?
Apr 13, 2022 - Blog by Goldstein Law Firm |Several years ago we published an article titled, What Not to Expect from Your Franchisor. That article was intended as a warning to prospective franchisees who were going through the buying process with a rose-colored vision of what it meant to own a franchise. But, let’s say that now you bought a franchise, and you are struggling to get the support the franchisor’s sales reps promised before you signed. What can—or what rather what should—you expect from your franchisor? National franchise lawyer Jeffrey M. Goldstein explains.
What if My Franchisor Wants Me to Use a Celebrity Endorsement?
Mar 31, 2022 - Blog by Goldstein Law Firm |In recent years, many franchisors have turned to celebrity endorsements to boost their brands’ presence on social media. While this increased exposure is ostensibly good for franchisees, franchisees may or may not want to be associated with certain celebrities for various reasons. This is especially true when the celebrities their franchisors choose are controversial—as discussed in a recent Franchise Times article. Let’s say your franchisor has signed a celebrity endorsement deal, and let’s say you aren’t interested in using the celebrity’s image or selling the celebrity’s signature merchandise. Do you have a choice? National franchise attorney Jeffrey M. Goldstein explains.
Selling Out to Your Franchisor: When, Why and How
Mar 29, 2022 - Blog by Goldstein Law Firm |According to the Franchise Times, Planet Fitness recently signed an agreement to acquire 114 gyms from one of its largest franchisees. The purchase price? A reported $800 million. While this deal is notable for its scope and dollar value, franchisors buy franchised outlets all the time. If you are interested in selling your franchise to your franchisor, here are some important considerations from franchisee lawyer Jeffrey M. Goldstein.
What Do Franchisees Need to Know About “Lost Future Royalties?”
Mar 24, 2022 - Blog by Goldstein Law Firm |With dozens of pages and tens of thousands of words, franchise agreements are long, complicated and difficult to read. But, when buying a franchise, understanding the terms of your franchise agreement is extremely important, and there are three little words that could drastically increase the risks of moving forward. These words are “lost future royalties.”
What are the Reasons to Buy a Franchise?
Mar 17, 2022 - Blog by Goldstein Law Firm |The franchise industry is booming. There are more franchisors than ever before, and various sources indicate that there are currently well over 750,000 franchised outlets in the United States. So, why is this the case? Why do so many people choose to buy a franchise instead of starting an independent business? National franchisee lawyer Jeffrey M. Goldstein shares his thoughts.
“Boilerplate” Franchise Agreement Terms: What Do Franchisees Need to Know?
Mar 10, 2022 - Blog by Goldstein Law Firm |Franchise agreements contain lots of “boilerplate” terms—or at least it seems that way. Once you get past the royalty fees, territory provisions and renewal rights, most franchise agreements look more or less the same. Even so, these “boilerplate” terms are extremely important. If your franchise lawyer overlooks them, you could end up unknowingly agreeing to some heavily one-sided provisions.
How To Deal with Franchise Encroachment
Mar 3, 2022 - Blog by Goldstein Law Firm |As a franchisee with a protected territory, you expect your franchisor to respect your territorial rights. After all, your franchisor granted them to you in the first place (unless you live in one of the limited numbers of states that provide statutory territorial protections to franchisees). But, what if it doesn’t? What if your franchisor encroaches on your protected territory? Franchise attorney Jeffrey M. Goldstein explains.
What Happens to Franchisees When Their Franchisor is Accused of Fraud?
Feb 28, 2022 - Blog by Goldstein Law Firm |According to the Franchise Times, the CEO of the company that owns Fatburger, Johnny Rockets, Twin Peaks, Fazoli’s and other restaurant chains is under investigation by the U.S. Securities & Exchange Commission (SEC) for securities fraud and other crimes. At present, the SEC’s investigation remains ongoing, and no charges have been filed. However, the publicity surrounding the investigation (which has also been reported by the Los Angeles Times and other media outlets) is almost certainly having a negative impact on the company’s brands. So, what does this mean for these brands’ franchisees? National franchise lawyer Jeffrey M. Goldstein explains.
FTC Sues Burgerim Alleging Franchise Fraud
Feb 25, 2022 - Blog by Goldstein Law Firm |As recently reported by the Franchise Times, the U.S. Federal Trade Commission (FTC) has filed a lawsuit against Burgerim alleging franchise fraud. According to the publication, the FTC is, “accusing the fast-food chain and its owner, Oren Loni, of enticing more than 1,500 people to purchase franchises ‘using false promises while withholding information required by its Franchise Rule.’” This is a notable development in the world of franchising, as franchise attorney Jeffrey M. Goldstein explains.