Run, Don’t Walk Can you walk away from buying the perfect franchise business for you, if the franchise agreement has one awful, horrible clause? Ok, if there’s one, there are likely more. When I started my law practice, franchise agreements seemed pretty balanced. You would usually find franchisor’s approval rights were softened by the qualifier […]
Buying A Franchise? Do These Things First
Franchise agreements are not fair contracts. Once training is done and the business opens, franchise agreements shift the entire burden of the franchise business to the franchisee. Taking the right steps before signing that franchise agreement is critical, not just for success but for your financial survival. Critical Steps to Buying a […]
Is The FDD A Contract?
“FDD” stands for Franchise Disclosure Document. The franchise regulators think that this is a plain English term for “prospectus”. Webster defines a prospectus as a preliminary printed statement that describes an enterprise (such as a business or publication) and that is distributed to prospective buyers, investors, or participants. If you thinking of buying a franchise, then you […]
My Interview Concerning the Burger King Lawsuit
I was recently interviewed on the Texas Standard Radio program concerning the termination of 37 franchise restaurants owned by a single franchisee because of a rat infestation at one of its South Texas Burger King restaurants. Following is the report was done by Texas Standard reporter Sol Chase: In February, video of a rat infestation at a South Texas […]
Have You Been Given a Current FDD?
Have You Been Given a Current FDD? Why does it matter? To sell a franchise in the United States, the franchisor must give all prospective buyers a Franchise Disclosure Document (FDD) that is required by the Federal Trade Commission. The FDD is not filed or reviewed by the FTC, but some states require that it […]
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