New York passed a cybersecurity and data breach law, effective October 23, and it expands many cybersecurity requirements to not only businesses operating in New York, but also those operating outside of the state. The SHIELD Act, as it is called, expands the scope of the current law by requiring covered entities to adopt a
Takeaways from the IFA Philadelphia International Franchise Association Summer Event at Rita’s Franchise Company
The Philadelphia Chapter of the International Franchise Association’s Women’s Franchise Network hosted its annual summer meeting this past week. For those of you who do not know, the local chapters of the IFA WFN’s is a local community designed to create, promote and inspire a network of female franchise business professionals dedicated to strengthening the
Updates From the Franchise Times Finance and Growth Conference!
I recently attended the annual Franchise Times Finance and Growth Conference in Las Vegas. In addition to hearing dozens of emerging and established brands pitch their systems, one of the highlights of the Conference is certainly the Deal Makers Gala Awards Luncheon. This is where the Franchise Times recognizes those deals which “drive the
Part II: More Tips on Using Social Media to Drive Franchise Sales
The female panelists at last month’s Philadelphia IFA Women’s Franchise Network Meeting provided so many great tips on how they utilize social media online to drive franchise sales that we couldn’t fit them into one blog post! Feedback from the 40 women professionals in the audience was overwhelmingly positive. Below are some additional takeaways
Top Marketing Execs Talk How to Use Social Media to Increase Franchise Sales
Top marketing executives from some of the most popular and growing franchise systems recently spoke at the Philadelphia Chapter of the International Franchise Association Women’s Franchise Network meeting about capitalizing on social media to increase sales and build business.
According to the esteemed panelists, by far the two most utilized social media sites used in
Franchising in the Smart Home Era
In the near future, customers will likely be ordering their fast food through their smart home devices, such as Amazon’s Alexa or Google Home. Gary Vaynerchuk, chairman of VaynerX, a modern-day media and communications holding company, gave this prediction at the International Franchising Association Convention in February 2019. Lawyers need to be prepared for
NJ Bans Non-Disclosure Clauses in Employment Settlements
On the Weekly Fox Workplace Watch, associate Justin Schwam provides a detailed summary of the recent New Jersey legislation entitled the New Jersey Law Against Discrimination (NJLAD). This law prohibits non-disclosure provisions in employment contracts and the settlements of certain discrimination, harassment, and retaliation claims. Any agreements settling NJLAD claims must now include a
Restaurant Structural Change: The Opportunity
Last time we asked, given the high number of restaurant concept bankruptcies and money sloshing around in the sector, is there still more upside than downside in the restaurant franchising sector? We can find the answer by looking at where we have been. The U.S. economy is experiencing the second longest expansion in our lifetimes,
Restaurant Structural Change: The Challenge
Imagine operating a single restaurant. The food keeps bringing them in, and prices are relatively stable. Consumer confidence is high, unemployment low, discretionary income rising, and people are going out more. Now multiply these variables as if we operated a chain of restaurants, and you will find small changes in any of these variables are
Failing to Plan? Then Plan to Fail.
To paraphrase Benjamin Franklin, “Those who fail to plan, plan to fail.” That is true in any business, but particularly so in franchising. Planning is more important in franchising because franchising leverages a business–expanding the horizon of the brand more than a single owner or operator could. Decisions on branding need to balance the effects