Letters of Intent in Franchising: What are They and How Are They Used?
Are you a prospective franchisee looking to navigate the critical first step of franchise negotiations? Letters of intent in franchising are not just formalities; they mark your initial plunge into a franchise deal, specifying your intentions and the terms under which you’re willing to proceed. This article zeroes in on the essential functions and components […]
Franchise Agreement Terms Easily Confused: Single-Unit Franchise vs. Multi-Unit Franchise
If you’re exploring franchising, grasping the nuances between a single unit and a multi unit franchise can be crucial. This article will focus on the differences between single unit and multi unit franchises within the context of business format franchises, which include licensing for the complete operating methods/system of doing business, in addition to the […]
What is a Franchise Operations Manual?
What is a franchise operations manual? Simply put, it’s the essential playbook that ensures every franchisee replicates the franchisor’s brand, processes, and standards across all franchise locations. This critical document lays out everything from daily operations to branding guidelines and legal requirements, emphasizing its role in ensuring consistency, quality, and compliance across all franchise locations. […]
Trade Compliance Roles and Responsibilities Cheatsheet
If you’re looking for an actionable trade compliance role and responsibilities cheatsheet, you’ve come to the right place. Cut through the complexity and get straight to the core of what trade compliance professionals do, from managers and officers to advisors and executives. Ensure your team is compliant and efficient with this essential guide. Key Takeaways […]
What Does ‘Royalty Fee’ Mean in a Franchise Agreement?
What does a royalty fee mean in a franchise agreement? It’s the ongoing cost you, as a franchisee, pay to the franchisor for using their brand and receiving continuous support. In this article, you’ll learn how these fees are determined, managed, and their role in franchising success. Key Takeaways Royalty fees are ongoing payments made […]
Franchise Agreement Terms Easily Confused: Infringement vs. Breach
Franchise agreements are complex legal documents that govern the relationship between a franchisor and a franchisee. Within these agreements, there are terms that often cause confusion and are easily misunderstood. Two such terms that are frequently mixed up are “infringement” and “breach.” In this article, we will delve into the basics of franchise agreements, explore […]
What Is a Customs Notice of Seizure and How to Respond
What does receiving a “what is a customs notice of seizure” mean for you? This urgent communication from US Customs and Border Protection indicates that your goods have been seized due to suspected customs violations. You’ve got a narrow window of time to act and potentially reverse the seizure. In this article, we outline what […]
Fiction’s Finest Franchises: From Magic to Mystery Meat
Let’s embark on a whimsical expedition through the uncharted territories of fiction’s most beloved and bizarre concepts. Where the realms of imagination serve up a menu of opportunities and challenges that are as flavorful as they are fanciful, I have compiled a list of my favorite fictional concepts that would be great as a franchise. […]