What Can I Do if My Franchisor’s Prices Are Too High?
Goldstein Law Firm Blog
by Goldstein Law Firm
1M ago
As a franchise owner, you can feel price pressure on both ends. Not only can rising prices make it more difficult to make ends meet, but you can also face resistance from customers (or would-be customers) who think you are charging more than you should. What if you agree? One fact of franchise ownership that comes as a surprise to many new franchisees is that their franchisors can control their prices. While there are limits on how much control franchisors can assert over pricing at the unit level, generally speaking, establishing minimum prices (or “minimum retail price maintenance”) is legal ..read more
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Buying a Franchise in Illinois: How to Make a Smart Choice About Your Territory
Goldstein Law Firm Blog
by Goldstein Law Firm
1M ago
Buying a franchise in Illinois requires careful decision-making. This applies across the board—from choosing the specific franchise opportunity that you want to pursue to choosing your territory. When it comes to choosing your territory, there are lots of factors to consider, and this makes it critical to work with an experienced Illinois franchise attorney who can help you make informed decisions throughout the buying process. Many new franchisees assume that their franchisor will simply assign them a territory on a take-it-or-leave-it basis. While this may be true in some large franchise sys ..read more
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What Does it Mean if a Franchisor Has a Master Franchisee?
Goldstein Law Firm Blog
by Goldstein Law Firm
1M ago
When you are thinking about buying a franchise, one of the key factors to consider (among many others) is the size and geographic dispersal of the franchise system. This includes not only the number and location of unit franchises, but also the number and location of any master franchisees. Not all franchisors have master franchisees. In fact, most do not. Having master franchisees adds a layer of management to the franchise system—and this can have both positives and negatives for everyone involved. If you are thinking about buying into a franchise system that has master franchisees, what do ..read more
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Franchise Dispute Resolution in New York: What Franchisees Really Need to Know About ADR
Goldstein Law Firm Blog
by Goldstein Law Firm
2M ago
As a franchisee, you need to know that you are making informed decisions when facing a dispute with your franchisor. For most franchisees, making informed decisions starts with looking for information online, and in New York, a good place to go for reliable information is the New York State Attorney General’s website. Or, at least, this should be the case. Recently, however, New York franchise attorney Jeffrey M. Goldstein came across a paragraph on the State Attorney General’s website that gave him cause for concern. The paragraph states: “Litigation usually signals the end of a business rela ..read more
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How Not to Regret Your Franchise Purchase
Goldstein Law Firm Blog
by Goldstein Law Firm
2M ago
If you are thinking about buying a franchise, how can you make sure you don’t regret your franchise purchase? This is a critical question that far too many prospective franchisees fail to take seriously. Buying a franchise requires a substantial investment that you can lose if your business isn’t successful, and even after you lose your investment, you can still find yourself facing claims from your former franchisor for lost future royalties. So, how can you ensure that you are making a sound decision? National franchise lawyer Jeffrey M. Goldstein explains. The Three Most Common Regrets Amon ..read more
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How to Avoid Costly Mistakes as a Prospective Franchisee
Goldstein Law Firm Blog
by Goldstein Law Firm
3M ago
If you are thinking about buying a franchise, you need to be sure to avoid costly mistakes. While buying a franchise can be a good investment, franchises can—and do—fail. Ultimately, it is up to you to decide what you want to do; and, while this can be daunting, there are clear steps you can take to help maximize your chances of success. Here are some tips from national franchise attorney Jeffrey M. Goldstein. 7 Tips for Avoiding a Bad Franchise Investment Tip #1: Make Sure You Have an Accurate Understanding of the Franchise Relationship When you are thinking about buying a franchise, it is cr ..read more
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Pennsylvania Doesn’t Have a Franchise Law—What Does This Mean for Franchisees?
Goldstein Law Firm Blog
by Goldstein Law Firm
3M ago
Like many states, Pennsylvania has not enacted a franchise law that protects franchisees. If you are thinking about buying a franchise in the Commonwealth, what does this mean for you? Pennsylvania franchise lawyer Jeffrey M. Goldstein explains. How State Franchise Laws Protect (and Fail to Protect) Franchisees Before we talk about franchisees’ legal rights in Pennsylvania, it is important to understand what it means (and what it doesn’t mean) when a state has a franchise law on the books. Broadly speaking, state franchise laws fall into two categories: Franchise Disclosure Laws – State franch ..read more
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Franchise Broker vs. Franchise Consultant vs. Franchise Lawyer: What You Need to Know
Goldstein Law Firm Blog
by Goldstein Law Firm
3M ago
When you are buying a franchise, there are people who want to help you, and there are people who can offer the help you really need. It is important to be able to distinguish between the two—not only to avoid wasting money that would be better invested elsewhere, but also to ensure that you are making an informed buying decision. While distinguishing between franchise brokers, franchise consultants and franchise lawyers is confusing for many prospective franchisees, there are clear (and important) differences between them. Here’s what you need to know. What Does a Franchise Broker Do? If you a ..read more
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I’m a Dissatisfied Franchisee in New York—Can I Rescind My Franchise Agreement?
Goldstein Law Firm Blog
by Goldstein Law Firm
4M ago
If you are dissatisfied with your franchise purchase, you are not alone. While some franchisees are able to find success, many franchises fail—and a significant percentage do so within the first two years of ownership. In this scenario, what options do you have available? Can you rescind your franchise agreement? New York franchise attorney Jeffrey M. Goldstein explains. When Do Franchisees in New York Have the Right to Rescind? As a general rule, franchisees do not have a right of rescission. Franchise agreements are binding, and once you sign, you remain bound until either (i) the term expir ..read more
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Should You Buy an “Emerging” Franchise?
Goldstein Law Firm Blog
by Goldstein Law Firm
4M ago
Entrepreneur.com recently released its 2024 Top New & Emerging Franchises Ranking. As the online publication explains, this is its list of the “top companies that have been franchising for five years or less.” If you are thinking about buying a franchise, should you consider an “emerging” brand? National franchise attorney Jeffrey M. Goldstein shares his thoughts. 5 Important Considerations for Buying an “Emerging” Franchise When you are considering franchise ownership, the amount of time that a franchisor has been selling franchises is certainly a relevant factor to consider. This is espe ..read more
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