4 Franchising Tips for a Franchisor
1 - Do your homework. Find a niche that needs to be filled and a business model in which you can be successful. You will do better if you are passionate about the product, so make sure that your business is compatible with your interests. Once you decide on the type of business you have the wherewithal to run (whether it is food, eyelashes, home improvement, tutoring, or whatever else suits you),…
Importance of Franchising Industry Growth
The franchise industry has been growing exponentially, as there are many new opportunities available as a result of Covid-19. Entrepreneurs used the upheaval of the pandemic to create new business models to cater to the needs of people stuck at home in the shutdown. And when the model works in one town, this is a good time to branch out into franchising and take the business model to another part…
Franchise FDD Expiration Rules by State
Your FDD will expire at the earlier of (1) when the new FDD is issued, or (2) when you reach a state or federal expiration date. New FDD Issuance Once you issue your new FDD, your old FDD expires. For example, if you are in California and you issue a new FDD on April 20, your old FDD expires everywhere. Once you issue a new FDD anywhere, you are no longer allowed to use the old FDD anywhere.…
How to Choose the Best Franchise Attorney
A franchise lawyer is a lawyer that has specialized in the area of franchising, both for franchisors and franchisees, and has knowledge in all legal issues involving both state and federal franchising laws. Selecting the right franchise attorney for your business can be a daunting task, as most law firms claim to have at least some experience in the area of franchise law. Before selecting your…
Choosing the Right Franchise Law Attorney
A common misconception about lawyers when it comes to business owners is that they just need a “business” lawyer that helps cover everything. The reality is, when embarking on the franchising journey, whether as a franchisor or franchisee, it’s incredibly important to find a franchise lawyer who specializes not only in franchise law — but in your specific industry, if possible. Just like lawyers…
Trademark vs. Copyright: What’s the Difference
When creating a new product or service, or even forming a new entity, understanding the differences between trademarks and copyrights can be vital. The first step is really a simple one: it’s important to find the right trademark lawyer for you. At Drumm Law, we’re proud to offer attorneys with expertise in the area of trademarks. We work with all of our clients to help them efficiently, and…
What does a franchise lawyer do?
When deciding to embark on franchising your business, or franchising a new business, gathering all of the information needed before making the important decision of hiring a franchise attorney is important. Sometimes, however, it can be confusing as to why you need a franchise lawyer, or what exactly the benefits are of having one. So, what does a franchise attorney actually do? In short, a…
Why Do I Need a Franchise Attorney?
When you’ve finally decided to start the process of potentially franchising your business, there’s a lot to consider. From contemplating potential franchisees to understanding the proper documents and protection needed for your business, the franchising process can sometimes feel more daunting than it needs to be. But before you decide to franchise your business, you need to start by finding a…
How to Choose The Best Franchise Lawyer
When it comes to creating and filing the legal documents necessary for starting the process of franchising a business, it’s best to leave the long and difficult process to a franchise attorney with expertise in the area of franchising. Benefits of a franchise attorney By contracting an experienced franchise attorney, you aren’t just helping protect yourself against any inconsistencies in your…
What is a Franchise Disclosure Document (FDD)?
Being an educated franchisee (or franchisor) means gathering all relevant information needed before making a solid business decision. And when it comes to the process of sorting through franchising opportunities for your business (or potentially becoming a franchisee yourself), one of the most critical pieces is the Franchise Disclosure Document, or FDD. A Franchise Disclosure Document, in the…