A breach of fiduciary duties in a partnership can lead to serious legal consequences and damage to the trust that partners place in one another. It is important to understand what these duties involve and how a breach can occur. Understanding fiduciary duties In a...
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3 common ways that franchisors take advantage of franchisees
Franchising can be an appealing business model for aspiring entrepreneurs. This path offers the lucrative opportunity to run a business with the support of an established brand. However, potential franchisees need to be aware of the potential pitfalls they might...
Can you keep your business after a dispute with your franchisor?
Franchising can be an exciting way to start a business. Taking this path offers the opportunity to run your own enterprise while benefiting from the support and recognition of a larger brand. However, disputes between franchisees and franchisors can arise, putting the...
Come to “Discovery Day” prepared with the right questions
Franchisors often hold “Discovery Day” events in person and online so that potential franchisees can get to know more about them – and vice-versa. While many potential franchisees are concerned with impressing a franchisor, it’s important to use this opportunity to...
2 common reasons why franchisees fail
Risk is an unavoidable aspect of entrepreneurship, and all businesses have the potential to fail. However, since a franchise is a proven business model, many franchisees are easily misled into thinking that franchise businesses are somewhat immune to failure. Even...
Essential tips for navigating your franchise agreement renewal
As a franchisee, renewing your franchise agreement is a pivotal moment for several reasons. First, the renewal secures the continuation of your business operations under an established and recognized brand. Second, the terms set in the renewal can significantly impact...
5 key aspects of a franchise agreement
A franchise agreement is a legally binding document that outlines the rights, responsibilities and operations the franchisor expects from the franchisee. The franchisor uses a franchise agreement so that the franchisee can use the business's intellectual property...
Common causes of franchise disputes
A franchise operation can be beneficial for all parties. The franchisee reaps the benefits of branding and support while the franchisor receives a fair price for the franchise sale. With that being said, disputes about franchise agreements can occur. Outlined below...
What is franchise self-cannibalization?
You’ve just been presented with what seems like a golden opportunity to buy into a franchise that seems to be exploding in popularity. The only problem is that they seem like they may be growing a little too fast. When it seems like there’s a shop or restaurant by...
Is becoming a subfranchisor the right move for you?
Most everyone is familiar with the terms “franchisor” and “franchisee.” In some cases, however, franchisors will introduce a third tier by subfranchising their business in some territories. They do this by bringing in subfranchisors. They’re also sometimes known as...