Schedule Appointment
Get Your Custom Tailored Legal Solution: 215-392-0030 | Free Consultation

What States Have Franchise Laws?

If you are a new franchisor, you must be aware of not only the federal franchise law that requires disclosure of certain information to a prospective investor in a franchise, but you must also be aware of state franchise laws. FEDERAL FRANCHISE LAW Federal law is governed by the Federal Trade Commission’s Franchise Rule and the…

Read More

Franchise Attorney or Local Business Attorney?

Understanding of franchise law I often get asked by a prospective franchisee client why they should use experienced franchise attorneys like those at Lanard and Associates and not their local business attorney.  My answer is very simple.  The local business attorney will not likely be familiar with franchise laws (both federal and state) and provide…

Read More

What Is The Difference Between a License and a Franchise?

What is the difference between a license and a franchise? Many people confuse a trademark license and a franchise.  Even attorneys who are not experienced in the niche area of franchise law may find it confusing to differentiate between a trademark license and a franchise. Hopefully this article will help to clarify the difference. TRADEMARK…

Read More

FOUR STEPS TO VALIDATE A FRANCHISE OPPORTUNITY

Before you invest in a franchise opportunity, it is important to take the following four steps to validate the franchise opportunity: CALL FRANCHISEES THAT ARE IN THE SYSTEM This is an important initial step in validating a franchise opportunity.  The franchisees that are in the system already (and any that have left the system) are the…

Read More

Top 10 Questions To Ask Existing Franchisees Before You Buy A Franchise

What Are The Top Ten Questions To Ask Existing Franchisees Before You Buy A Franchise? I always recommend that individuals looking to buy or invest in a franchise opportunity speak with existing franchisees of that system before moving forward. Franchisees that are already in the system and operating the business are a prospective franchisee’s best…

Read More

New Accounting Rule ASC 606 Will Greatly Impact Franchisors and Consultants

Rule ASC 606 The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board recently jointly issued rule ASC 606 known as “Revenues From Contracts With Customers”.  ASC 606 has the potential to dramatically change the franchise industry.  In a nutshell, this new rule governs when the franchise fee can be recognized (from an accounting…

Read More

What Is Florida Senate Bill 750?

BACKGROUND Florida Senate Bill 750 has taken one step closer to becoming law.  Known as The Protect Florida Small Business Act, Florida Senate Bill 750 would greatly impact both franchisors and franchisees doing business in Florida.  Senate Bill 750 would change the current law in Florida to protect franchisors from terminating or failing to renew…

Read More

Franchised Business vs Independent Business Ownership

Statistics Many articles have been written on the success of owning a franchised business vs an independent business.  Years ago an article appeared on About.com stating that franchised businesses have a success rate of about 90% as compared to starting a new business, which had a success rate of only 15%.  The article argued that…

Read More

What Is The Difference Between The Franchise Disclosure Document And The Franchise Agreement

What is the difference between the Franchise Disclosure Document and the Franchise Agreement?  The Franchise Disclosure Document is a large document comprised of several federally mandated components, which include the Franchise Agreement.  The Franchise Disclosure Document is required to have twenty-three disclosure items, all contracts that the franchisee will be required to sign, financial statements…

Read More

Letter Of Intent For A Commercial Lease

What Is The Purpose Of A Letter Of Intent For A Commercial Lease? A real estate letter of intent (LOI) is the skeleton from which a lease is drafted by the landlord’s attorney.  The letter of intent reduces to writing a preliminary understanding of parties who intend to enter into a contract, including contracts to…

Read More

What Is A Fictitious Name Registration?

What Is A Fictitious Name Registration and Do I Need One? I am often asked whether a fictitious name registration is needed for a client’s business.  The first point is to understand what a fictitious name registration is.  If you are doing business under a trade name that is not also your entity (corporation or…

Read More

Choosing Your Business Entity

Choosing A Business Entity – what are the options? Choosing your business entity is often the first important legal decision that an entrepreneur must make.  In the last few years the choices have become greater.  An individual business owner can have a sole proprietorship, corporation (C or S) or limited liability company.  An organization with several…

Read More