If you are planning to buy a franchise in 2022, you are not alone. The COVID-19 pandemic has forced many people to reconsider their priorities and explore new opportunities, and this has driven many to the world of franchising. In this article, we have collected some of our franchise law firm’s top free resources to create a comprehensive guide to buying a franchise in 2022.
Each year we publish dozens of articles for current and prospective franchisees. This year was no different. In 2021, our articles covered topics ranging from the effects of the COVID-19 pandemic to buying a franchise at resale, and we published an in-depth three-part series on Understanding Your Franchise Agreement. Here is a look back at some of our franchisee law firm’s top articles from the year.
When buying a franchise, there are lots of reasons to rely on professional legal advice. If you decide to move forward, you will be making a substantial long-term investment; and, while you will have control of your own destiny to an extent, your ability to succeed will depend heavily on your franchisor’s infrastructure, systems and support. A franchise attorney can help you make informed decisions, and your attorney can also help you avoid signing away rights that you can (and should) keep.
Entrepreneur Magazine recently released its list of The Hottest Franchise Categories of 2022. According to the article accompanying the list, “most of the categories we chose this year grew in reaction to new, pandemic-fueled needs. . . . But in 2022, we expect a lot of franchise growth to be driven by the need—or at least the desire—to get back to some semblance of ‘normal.’” In this article, franchise lawyer Jeffrey M. Goldstein shares his thoughts on Entrepreneur Magazine’s picks as well as some of his own insights on choosing a category to target as a prospective franchisee.
Buying a franchise is a long-term commitment. As a franchisee, not only are you required to comply with the terms of your franchise agreement (and the operations manual) for the duration of your franchise, but you will likely be required to comply with various post-termination obligations as well. National franchisee lawyer Jeffrey M. Goldstein explains.
As a franchisee, there are two main documents that tell you what you can and can’t do: the franchise agreement and the operations manual. You signed the franchise agreement when you purchased your franchise, so you know it’s binding. But, what about the operations manual? National franchisee attorney Jeffrey M. Goldstein explains.
Understanding Your Franchise Agreement is our three-part series covering 15 key provisions of the franchise agreement for prospective franchisees. As a franchisee law firm, we have represented clients considering all types of franchises, and we have reviewed franchise agreements from franchisors in every segment of the industry. Parts 1 and 2 of the series covered opening, territory rights, term and renewal, fees, and operating standards. Here in Part 3, we cover transfer, termination, post-termination, dispute resolution and “miscellaneous” terms.
Understanding Your Franchise Agreement is our three-part series covering 15 key provisions of the franchise agreement for prospective franchisees. As a franchise law firm, we have represented clients considering all types of franchises, and we have reviewed franchise agreements from franchisors in every segment of the industry. Part 1 of the series covered five key provisions at the beginning of the franchise agreement. Here in Part 2, we cover franchise fees, operating standards and renewal.
Several years ago, we published a popular three-part guide titled, Understanding Your Franchisor’s FDD. As its name suggests, this guide provides an in-depth look at what franchisees need to know about their franchisor’s Franchise Disclosure Document (FDD). Now, we’re taking the same approach to the franchise agreement. In this three-part series, franchise lawyer Jeffrey M. Goldstein breaks down 15 key contract provisions that govern most franchise relationships.
Buying a franchise is not a guarantee of success. Many franchisees barely earn enough to pay themselves a modest salary, and some never become profitable. Of course, the pandemic has forced many franchisees into the red as well. If your franchise isn’t profitable, is there a way out? Franchise attorney Jeffrey M. Goldstein explains.