Does Making a Franchise and Franchise Sales Go Hand in Hand
January 31, 2022 by
When looking to franchise your business you might wonder if making a franchise and franchise sales go hand in hand. There is a lot of confusion floating around out there about what it takes to make a franchise compared to what it takes to sell a franchise. We would like to take a few minutes…
Financial Performance Representations vs Audited Financial Statements
January 30, 2020 by
The franchise development process makes mention of two financial concepts: Audited Financial Statements and Financial Performance Representations. Often times these two topics lead to confusion. Audited Financial Statements and Financial Performance Representations are two different things. Let’s start off with a definition of each. Audited Financial Statements Audited Financial Statements are statements that are prepared…
Franchise Document Templates Are Bad
January 11, 2019 by
You have decided to franchise your business and like most business owners you want to get it done quickly, easily and for as little money as possible. You start researching how to franchise your business online and stumble across franchise document templates for sale. Franchise document templates are generic, one-size-fits-all boilerplate documents that you can…
Franchising Revenue Recognition Rules
August 21, 2018 by
The Financial Accounting Standards Board (“FASB”) sets the standards for what is known as “GAAP” which stands for generally accepted accounting principles. You may or may not be aware that the FASB has set new revenue recognition standards that will go into effect for private companies in just a couple of months which is January…
Franchising is Regulated to Keep You Honest
August 21, 2018 by
Any change you make, every move you make, they will be watching you. Sound like a song? Well it is, but we are referring to franchising, specifically if you choose to franchise your business and what it will look like in the future because franchising is regulated. That’s right, it doesn’t stop just because you…
Why Time Matters for Franchisees to be Operational
August 14, 2018 by
There you are seriously thinking about franchising your business, weighing the pros and cons of what franchising means for you but then you realize it is not just all about you. It occurs to you that there might be some traps you will want to avoid when franchising. So you’re struggling to figure out what…
Mistakes New Franchisors Make
June 22, 2018 by
Franchising is an industry that has helped many business owners (like you) expand into different markets while at the same time allowing other entrepreneurs “to be in business for themselves, but not by themselves” (as the saying goes). It sounds great, right? And it is…. when franchising is executed correctly. However there are certain mistakes…
Creating Franchise Friendly Documents
May 25, 2018 by
The requirement when franchising your business is to have a set of documents that layout in a particular format your obligations and responsibilities to a franchisee. The reason behind having franchise documents is so that there is transparency of your franchising company and well-defined expectations. In order to meet regulatory requirements when creating such franchise…
Difference between Updating and Renewing Franchise Documents
April 12, 2018 by
When it comes to the topic of franchising you may be aware that before you can start selling franchises you need a set of franchise documents. These franchise documents are required by the Federal Trade Commission (“FTC”), prepared according to their guidelines and approved before you can offer franchises. Your franchise documents must be put…
Do I Need a Local Franchise Development Company?
February 1, 2018 by
Typically when you are looking to do business with a new company, the first place you start searching is in your own city or somewhere close to you and within your comfort zone. It’s not often that you are in need of a service where you have to look any further than your own local…
What are the Elements of a Franchise Disclosure Document?
December 29, 2017 by
You are looking to franchise your business and realize you need a Franchise Disclosure Document. Then you ask yourself, “What is the Franchise Disclosure Document and what are the elements of a Franchise Disclosure Document?” Let’s shed some light on these things now. The Federal Trade Commission (FTC) regulates franchising so there is transparency between…
When Establishing a Franchise is it State Specific?
October 12, 2017 by
You built your business to franchise. Yep, you want to scale it nationwide, so what are some important things to know when establishing a franchise and how to make it effective nationwide. Franchising is regulated by the Federal Trade Commission in an effort to protect franchisees against fraud. This is why franchising is considered a…
You Need More Than Documents to Franchise Your Business
April 26, 2017 by
Here you are thinking of franchising your business and you may be thinking that all you really need is a set of franchise documents and you are good to go. In fact you may be thinking that it is so simple you could really just take someone else’s franchise documents and copy them. We are here to tell you that…
