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Most Recent Questions in Franchises

Question added to topic FranchisesOctober 6, 2008

Do franchisees have legal obligations to pay royalties to franchisors on loss-making product introduced by the franchisor?

The simple answer is that it depends on what your franchise agreement contract says. If the contract says yes, then the answer is yes, but that doesn't have to be the end of the discussion.... (more)
Question added to topic FranchisesSeptember 4, 2008

I own a restaurant and I'm planning to sell my desserts in mini markets and grocery stores. Do I need another type of permit or license besides what I have now?

Generally, restaurants and other food-service businesses must obtain a food service permit. Retail food stores--including vending machines--and food manufacturers, processors and wholesalers must... (more)
Question added to topic FranchisesAugust 20, 2008

Should I sell my fledgling, struggling franchise territory, hire someone to run it or shut my doors?

Yes. It definitely sounds like you should do one of these three things since it doesn't appear that you have the time to devote to both your three kids and the business. As to which of these... (more)
Question added to topic FranchisesAugust 20, 2008

Is it good to go with a startup franchisor with good potential or with an established one?

You've hit the nail on the head in terms of the choice you have to make--do you go with a very well-established brand with good support but with higher fees or a new brand with marginal support but... (more)
Question added to topic FranchisesAugust 5, 2008

What would be an advantage of buying into a franchise when, in all aspects, you have the financial stability to just start your own business?

The main reason that people buy into a franchise system is risk reduction. A strong franchise with a proven track record of success that you can verify through your own investigation is a much... (more)
Question added to topic FranchisesAugust 5, 2008

Where can I get the money to start my franchise business?

There are three basic strategies that can be used to finance a franchise business startup. The first is to use your own money, accumulated over your lifetime, as the investment capital you need. ... (more)
Question added to topic FranchisesJuly 22, 2008

Can I get compensation for a franchise product I created?

This is a great question and, like so many others, the answer is sort of "Yes and No." Most franchise agreements have a clause that specifically says that any new product or service... (more)
Question added to topic FranchisesJuly 22, 2008

Is there a national convention/show that people can attend to see franchise opportunities?

There are a few of them. The biggest show of the year is the International Franchise Expo in Washington, DC, held in spring. But there are also regional shows happening throughout the year.  You... (more)
Question added to topic FranchisesJuly 21, 2008

How long must you be in business to start a franchise?

There are no legal requirements related to how long you must be in business prior to starting a franchise; in fact, sometimes franchise companies start without any prior operating experience at... (more)
Question added to topic FranchisesJuly 15, 2008

How do I determine the resale value of a Curves franchise?

Determining the resale value of any franchise is part art and part science.  There are a number of standard valuation techniques that you can research and use, ranging from the book value of... (more)
Question added to topic FranchisesJuly 7, 2008

I want to expand and would like to know the least expensive way to franchise my company.

There are any number of different strategies for expanding your company, one of which is franchising. Others might be to expand as a business opportunity. through more company-owned units or by... (more)
Question added to topic FranchisesJune 30, 2008

As a wholesale distributor, how much should I offer a franchisor on the front end to service its franchisees?

The franchise industry is all over the board when it comes to accepting payments from vendors and suppliers.�Many franchise companies do not accept any such payments (instead negotiating for... (more)
Question added to topic FranchisesJune 16, 2008

How do I buy out my employer's new, failing business?

You can offer to buy your employer's business by making an offer to purchase it. The assets, the customer list, the lease--all will have a dollar value. However, as the business is failing, you... (more)
Question added to topic FranchisesJune 9, 2008

Can a franchise be purchased as an LLC?

Yes.  It is quite common for a franchise to be operated under a legal entity of some form other than a sole proprietorship. This could be a corporation, LLC, partnership or whatever works best for... (more)
Question added to topic FranchisesJune 4, 2008

Can you help me understand the difference between various franchise fees?

Almost all franchises charge an initial franchise fee to get involved.  This fee helps the franchisor offset some or all of the costs of recruiting and training new franchisees.  The... (more)
Question added to topic FranchisesMarch 18, 2008

How do you recommend a slate of people to be elected to the board of directors at a shareholder meeting?

There are two ways to answer your question: #1. At incorporation, you will have decided much of this--or if you are like most people, you would have accepted a standard set of corporate... (more)
Question added to topic FranchisesFebruary 14, 2008

Am I too old to buy a franchise?

Ms. Swanson, You are in the largest demographic for starting a business! While statistics of cohorts may be comforting, the most important question is, do you love the business of the franchise... (more)
Question added to topic FranchisesJanuary 29, 2008

How can I get honest feedback on a new business that incorporates social networking?

Congratulations on starting your business! The best place to get honest feedback about your new business is to join a few of the online mailing lists dedicated to your particular area of... (more)
Question added to topic FranchisesJanuary 24, 2008

Any advice for a group of friends who want to start investing in a group or entity?

Do a good web search for "angel investors" in your area, and talk to the chamber of commerce, the local small business development center, and the entrepreneurship professors at the... (more)
Question added to topic FranchisesJanuary 21, 2008

How much of the capital invested in a franchise is deducted?

Let me start by giving you the same caveat that you've probably heard lots of times--for accurate tax advice you need to talk to your own professional tax advisor who is familiar with your own... (more)
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