Franchises are a great way to help you grow a business. Our Illinois and Florida franchise attorneys help with FDDs, franchise agreements, multi-unit franchise agreements, area development franchise agreements, and sub-franchise agreements.
Serving in Illinois: Oak Brook, Burr Ridge, Naperville, Hinsdale, Lombard, Addison, Downers Grove, Oak Park, Darien, Chicago, Lisle, Westmont, Willowbrook, Clarendon Hills, and the Chicagoland Area.
Serving in Florida: Tampa, South Tampa, New Tampa, Wesley Chapel, Odessa, Lutz, and the general Tampa area.
I get asked a lot by business owners who want to know if they can open another location of their business while co-owning it with someone else, and licensing the business model, in order to go around the franchise rule to avoid providing the franchise disclosure documents to franchisees. However this approach does not create […]
Is co-Owning a Licensed location an Exemption to the Franchise Rule? Read More »
Is My Business Too Small to Franchise? When a Business Model May Already Be a Franchise Your business is not too small to franchise. In fact, the size of the business is not a factor in determining whether a business can be franchised. For many growing businesses, the word “franchise” sounds like something reserved for large
Is My Business Too Small to Franchise? Read More »
Should I Franchise My Business? Whether you should franchise your business depends on a few factors. Franchising your business is a great way to grow your business. Rather than investing multiple times in multiple locations or territories for your business, you can license your business model to franchisees and collect royalties. For example, if you
Should I Franchise My business? Read More »
Franchise agreements can be divided into two main categories, single-unit and multi-unit franchise agreements. However, there are different variations of multi-unit franchise agreements in which the roles, responsibilities, and profit distribution differ. Note that franchise disclosure documents (FDDs) are still required when selling a franchise. Regardless of the complexity of the franchise agreement, it is
The 4 types of franchise agreements Read More »
As a franchisee, you may want to sell your franchise for a variety of reasons. Retirement, the franchise not being what you expected, or chasing other business opportunities may be some of them. Regardless of the reason for the transfer, you want to ensure that when you sell your franchise you have a seamless and
How to sell your franchise business as a franchisee Read More »
Put simply, franchising is a business model where you take what has worked for you, your business name, brand, know-how, and system, and teach someone to replicate it. Franchising is a powerful business strategy that has boosted the profit of countless entrepreneurs. However, there are some legal requirements franchisors need to address before starting their
Legal Requirements to Start a Franchise Read More »
In a chain, all store locations are owned by a parent company, while in a franchise, units are owned and operated by separate individuals who contract with a franchisor to use the parent company’s business model and trademarks. In this article, we will break down the differences between chains and franchises. What is a Franchise?
Franchise vs Chain: What are the differences between the two business models? Read More »
An Area Development Agreement (ADA) is a type of franchise agreement in which a franchisee has the right and responsibility to open a certain number of franchise units in a particular territory within a set timeframe. How does it work? In an ADA, also called a Multi-Unit Development Agreement, a franchisee’s role is to introduce
Area development agreement in franchises Read More »
As a huge corporation having thousands of locations around the world, imagine how complicated it would be to personally vet and recruit franchisees. This is why big companies, such as McDonald’s, subfranchise their businesses and rely on master franchisees that manage multiple locations on their behalf within a determined region. Key takeaways: In a subfranchise,
Subfranchise: How do master franchises work? Read More »
For sure, you know giant food chains such as McDonald’s or Popeyes, multimillionaire franchise restaurants that have expanded throughout the world. These companies are owned by franchisors, who allow third parties the use of their business model and trademarks in exchange for the payment of fees and ongoing royalties. In this article, we will discuss
What is a franchisor? Meaning, Roles, Pros and Cons. Read More »