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

Posts by Nancy Lanard

Definitions of Franchise Terms

What are the definitions of franchise terms that you should know before investing in a franchise?  Here are the definitions of the franchise terms that we believe are essential to know before you move forward in the franchise world. DEFINITIONS OF KEY FRANCHISE TERMS: FRANCHISOR The franchisor is the company that will be licensing their…

Read More

Characteristics of a Bad Franchise

franchise law

Five Characteristics of a Bad Franchise I am often asked how someone would know if a franchise is a good one.  There are some clear signs and characteristics of a bad franchise that can be helpful.  Here are five examples of characteristics of a bad franchise that a prospective franchisee should consider. 1. NO SUPPORT…

Read More

Buying An Existing Franchise – A Two Step Process

What Are The Two Steps To Buying An Existing Franchise Business? When you are buying an existing franchise business it is a two step process. A person must evaluate both the franchise investment opportunity (the franchisor/franchisee relationship) and the existing business opportunity (the seller/buyer transaction). This involves two very different steps that need to be…

Read More

Florida Small Business Parity Act

Florida Senate had recently passed SB 1076 known as the Florida Small Business Parity Act.  The Florida Small Business Parity Act is an attempt by the Florida legislature to ensure that Franchisees owning a Franchise are on a more even playing field with their Franchisor. The proposed Florida Small Business Parity Act would protect Franchisees…

Read More

What Is A Franchise Earnings Claim?

DEFINITION OF A FRANCHISE EARNINGS CLAIM What is a franchise earnings claim? As a prospective franchisee, you want to know how much money  you can expect to generate from the franchise business in which you are investing.  A franchise earnings claim is any information provided to a prospective franchisee that allows that individual to predict…

Read More

Which States Are Franchise Registration States?

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.  You must know which when you are required to register a Franchise Disclosure Document with…

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 When Buying A Franchise

What Are The Top Ten Questions To Ask When Buying A Franchise? I always recommend that individuals looking to buy a franchise ask several questions.  The first step to validate a franchise is to speak with existing franchisees of that system before moving forward. Franchisees that are already in the system and operating the business…

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