With most non-essential businesses closed across the country, it is easy to forget we are two weeks away from the April 30th Franchise Disclosure Document (FDD) update deadline for franchisors with a calendar fiscal year end. Some franchise systems are delaying the preparation and issuance of an updated 2020 FDD and corresponding state renewal registrations.
Attention Franchise Filers! Indiana Goes Paperless on January 1st
More and more states are launching online portals allowing franchise systems to file initial registrations, exemptions, renewals and amendment applications electronically. The Indiana Secretary of State, Securities Division launched the Indiana Securities Portal exactly one year ago. According to the Indiana Division, the implementation has been very successful and the feedback over the past year
‘Tis the Season to Launch that Franchise System?
The new year is often a time when successful entrepreneurs with thriving business concepts start looking to expand their brand using a franchise business model. Franchising is an excellent way to grow a business rapidly, penetrate new markets, and leverage investment from the capital infusion and energy of franchisees. However, there are a few very
How Do You Determine Your Franchise System’s Technology Fee?
In my recent experience, most franchise start-ups and emerging systems typically charge a technology fee or, at a minimum, reserve the right to charge a technology fee in the future. These fees are easily justifiable. Franchisors are routinely creating, developing, managing, and upgrading software programs, websites, phone systems, online platforms and similar technology solutions used
Online Reviews – Best Practices for Dealing with Yelp from Yelp!
The Pennsylvania Restaurant and Lodging Association provides many benefits to its hospitality industry members. One of those benefits is access to its interesting and useful webinar series. This month’s webinar “Five Star State of Mind: Handling Online Reviews” was presented by Ali Schwartz of Yelp. Unlike Yelp’s sales team, Ali is 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
Examining Franchise “Influencers” – Who is Driving that Franchise Sale?
Mark Siebert, CEO of the well-known franchising consulting firm iFranchise Group, authored a very interesting article in a recent issue of Franchise Times magazine about “influencers” in franchise sales. As a corporate and regulatory transactional franchise attorney, I represent both franchisors (in the sale) and franchisees, multi-unit owners and area developers (in the purchase)
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
Just Signed! New Washington State Law Limits Use of Non-Competes and No-Poach Agreements
Yesterday, Washington’s Governor, Jay Inslee signed HB1450 [PDF] which targets the use of restrictive covenants in the State of Washington (the “Non-Compete Act”). The signing of the Non-Compete Act follows the recent settlement on March 18, 2019 of three cases filed by private plaintiffs challenging the no-poaching provisions in franchise agreements of Auntie Anne’s, Arby’s