Understanding Your Franchise Agreement – Part 2
Nov 24, 2021 - Blog by Goldstein Law Firm |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.
Understanding Your Franchise Agreement – Part 1
Nov 19, 2021 - Blog by Goldstein Law Firm |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.
Is There a Way Out if My Franchise Isn’t Profitable?
Nov 17, 2021 - Blog by Goldstein Law Firm |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.
Are You Considering a Home Services Franchise?
Nov 12, 2021 - Blog by Goldstein Law Firm |It seems that lots of people are buying home services franchises. According to the Franchise Times, franchisors in the home services sector saw a 5.6 percent increase in total sales in 2020, and many brands in the sector have seen strong growth figures in 2021. If you are thinking about buying a home services franchise, here are some key considerations from franchisee lawyer Jeffrey M. Goldstein.
2020 Franchise Growth Data Show Which Sectors Fared Best During the Pandemic (So Far)
Nov 10, 2021 - Blog by Goldstein Law Firm |The Franchise Times recently published two articles highlighting franchise systems that experienced growth during 2020. While the fact that a franchisor experienced year-over-year growth isn’t normally newsworthy, 2020 wasn’t a normal year. As we head into 2022 with the COVID-19 pandemic still playing a prevalent role in our day-to-day lives, prospective franchisees may benefit from considering the sectors that have fared best in the pandemic so far. Franchisee attorney Jeffrey M. Goldstein explains.
7 Key Considerations When Choosing a Franchise Law Firm
Oct 29, 2021 - Blog by Goldstein Law Firm |Whether you are thinking about buying a franchise or you are facing a dispute with your franchisor, you need to choose your legal representation wisely. The decisions you make will have long-term consequences, so you need to feel confident that you are relying on sound legal advice. With this in mind, here are seven key considerations when choosing a franchise law firm.
What Should You Do When Facing a Dispute with Your Franchisor?
Oct 27, 2021 - Blog by Goldstein Law Firm |As a franchisee, facing a dispute with your franchisor can be a trying experience. You need to protect your investment—but does this mean giving in, or does it mean fighting for a just result? You need to make an informed decision about how to move forward, and you also need to be careful to avoid mistakes that could put your franchise at risk unnecessarily. Here are some insights from franchisee attorney Jeffrey M. Goldstein.
What Do You Need to Know When Buying a Franchise At Resale?
Oct 22, 2021 - Blog by Goldstein Law Firm |Buying an existing franchise at resale is very different from buying a franchise for a new location in a new territory. While some of the key steps and considerations are similar, there are additional key steps and considerations as well. In this article, franchisee lawyer Jeffrey M. Goldstein discusses what is involved in buying a franchise that is already up and running.
5 Tips for Buying a Franchise in 2022
Oct 15, 2021 - Blog by Goldstein Law Firm |After two difficult years, lots of people have high hopes for 2022. Lots of people are also ready for a change; and, for some, this means exploring the world of franchising. If you are thinking about buying a franchise, there is a lot you need to know. Here, franchise attorney Jeffrey M. Goldstein shares five tips for buying a franchise in the coming year.
Thinking about Buying a Fitness Franchise? Here are Three Important Considerations
Oct 8, 2021 - Blog by Goldstein Law Firm |Fitness is one sector of the franchising industry that has been hit particularly hard by the COVID-19 pandemic. According to the Franchise Times, “[o]verall sales for the segment dropped to $5.8 billion last year. That’s a 23.8 percent decline as all but one of the gym brands suffered sales losses . . . .” However, while that one gym brand, Burn Boot Camp, saw a 12.2 percent increase in sales in 2020 compared to 2019, that came with a 16 percent increase in franchised outlets. As a result, as franchise lawyer Jeffrey M. Goldstein explains, anyone who is considering a fitness franchise must look at the numbers very carefully before moving forward.
