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Best Practices for Renewing a Franchisee’s Franchise Agreement
Every franchise agreement has an expiration date. Accordingly, franchisors need to know how to properly handle franchise renewals and accompanying successor agreements. Although a franchisee’s right…
The FDD Receipt Page: Why the Last Page in the FDD Matters a Lot
The receipt page is the last page of the FDD and serves as the prospective franchisee's acknowledgement of having received the document. Once signed, it provides evidence that the franchisor has…
Growing Your Brand: Multi-Unit Franchises
When you're planning to grow your brand, the Area Development model (or Multi-Unit model) is a strategic path for rapid growth. Why Multi-Unit Franchising? An area developer (or multi-unit franchise…
New Franchise Policies that Impact Franchise Questionnaires are in effect as of January 1, 2023
On January 1, 2023, a new policy went into effect that will apply to franchisors that use franchise questionnaires as part of their franchise sales process. The North American Securities…
Is Your Chosen Auditor Legally Qualified to Perform the Audit?
With certain phase-in exceptions, federal and state franchise disclosure laws require that the FDD include an audited financial statement. Some regulators have started to verify an auditor’s…
Did you know that your fiscal year can affect your franchise sales?
Check out our latest franchise question to find out why: https://drummlaw.com/blog/franchise-question/choosing-a-fiscal-year-end-for-your-franchise-company/
How to Get Out of a Franchise Agreement: Ultimate Guide
They say all good things must come to an end. Unfortunately, that plays true to many franchise relationships as well (though if it’s ending, it may not have been all that good, to begin with). Keep…
The franchisee breached their agreement. Now what? The default seems plain enough, so why would I need a lawyer’s help?
So, your franchisee has breached the terms of their franchise agreement. What do you do next? While their breach may be cause for termination, you shouldn’t rush into any conclusions. Otherwise, you…
The Importance of Franchise Record Keeping
Why Do I Need to Keep Records? Keeping records gives you an additional reason to check and make sure that the documents are properly completed and fully executed. If a dispute arises, incomplete…