Understanding the Importance of a Franchise Business Review
Bundy & Fichter Blog
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1y ago
If you’ve just attended a franchising convention or a sales presentation, read an inspiring novel, or have a dream in front of you, it’s like you want to hop on the bandwagon and enter a franchise opportunity. Visions of instant profits float before your eyes, and you’re ready to pull out your checkbook, pay the franchise fee, and sail into ..read more
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When is the Right Time to Franchise Your Business?
Bundy & Fichter Blog
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1y ago
In the mid-19th century, Isaac Singer had an idea on how to market his namesake sewing machine across the nation—and thus the franchise industry was born. The industry, needless to say, has grown exponentially to the point where, in 2020, there were 753,770 franchises in the U.S ..read more
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Doing Business With Friends or Family
Bundy & Fichter Blog
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1y ago
If you decide to go into business with a friend or family member, you should think twice and then get your deal documented better than you would need to with a stranger ..read more
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Beware of Boilerplate Disclaimers
Bundy & Fichter Blog
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1y ago
If you are considering buying a franchise, you should beware of boilerplate disclaimers. They come in many forms. Some are buried in the fine print near the back of a thirty-page franchise agreement. Many are duplicated in a separate document back near the receipt in the FDD ..read more
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Pandemic Franchise Opportunities?
Bundy & Fichter Blog
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1y ago
It was inevitable. The franchise sales engines have been spewing speculative claims about what we might call “pandemic opportunities”. The story is that many restaurants (estimates range from 3% to 50%) will close permanently because of the pandemic and the corresponding recession ..read more
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What You Need to Know About Franchising Your Business
Bundy & Fichter Blog
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1y ago
In 2020, according to the website Statista, there were 753,770 franchise establishments in the United States, employing 7.49 million people. Under a franchise agreement, a franchisee can utilize the franchisor’s business model and ideas ..read more
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Best Questions for Prospective Franchisees in Washington, Oregon and California
Bundy & Fichter Blog
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1y ago
For a prospective franchisee, one of the best ways to learn about a franchise is to talk to current franchisees. Franchisors are required to list current franchisees and franchisees who have recently left the system in the Franchise Disclosure Document. Before purchasing a franchise, a prospective franchisee should contact as many current and former franchisees as possible ..read more
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NEW STATEMENT OF POLICY – TIME FOR COMMENT
Bundy & Fichter Blog
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1y ago
The North American Securities Administrators Association (NASAA) recently released for comment a proposed Statement of Policy on questionnaires and other disclaimers in franchise documents. The deadline for comments is January 5, 2022 ..read more
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Bundy & Fichter comments in favor of NASAA efforts to reduce fraud in franchising.
Bundy & Fichter Blog
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1y ago
Proposal would reduce fraud in franchising and level the playing field for franchisors and franchisees ..read more
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Your Rights as a Franchisee
Bundy & Fichter Blog
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1y ago
While the website Statista reports 753,770 franchises were operating in the United States in 2020 (with McDonald’s and 7-Eleven ranking one and two revenue-wise), Entrepreneur magazine’s 2022 Franchise 500 Ranking lists Taco Bell and the UPS Store as the best opportunities for new franchisees ..read more
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