|
|
Like this article? PLEASE +1 it! |  |
|
disclosure document Tagged Articles
|
Buying a Franchise? You Better Understand Item 7 of the FDD
| |
| Item 7 in the Franchise Disclosure Document requires franchisors to present in a prescribed format a franchisee's estimated initial investment needed to start the franchise business. It's important for individuals looking to purchase a franchise to fully understand what Item 7 contains. A leading cause of franchisee failure is being undercapitalized. Learn how to avoid falling into that situation.
|
|
|
Buying A Franchise: Some Do's & Don't
| |
| Life has a way of manipulating the circumstances and the conditions. Often executives and those vulnerable to economic downturns turn to consideration of business ownership.
I'm often asked when I speak to groups, "Are there some hard and fast rules of doing a proper examination or investigation of the various kinds or brands? Can you better understand the business if you do certain things?" The answer is mostly yes. The more you actually know the more confident you are once you make a decision.
But there are dangers as well. Often we study so much the line becomes blurred between what is factual and actual and what is someone's overly blustered and inaccurately stated opinion or random thoughts.
Here are some things I recommend to you that you DO: |
|
|
How to Franchise
| |
| How to franchise. Business owners should follow these steps when developing a franchise program. |
|
|
Buying a Franchise, Due Diligence
| |
| Buying a franchise is a major investment. Buyers should carefully consider various aspects of the offering before making the purchase. Here are some suggestions. |
|
|
Franchise Resales - Pros and Cons
| |
| This article is the first a two part series dedicated to helping people better understand the how to approach and understand a franchise resale. |
|
|
The Role of the Franchise Compliance Coordinator
| |
| When advising clients concerning their franchise operation, FranSource recommends that they designate a responsible employee to act as the Franchise Compliance Coordinator. This position entails implementing a franchise compliance program to ensure the company remains in compliance with all federal and state disclosure laws and regulations. |
|
|
Buying a Franchise vs. Starting a Business ©
| |
| During economic downturns, many employees get laid off from their jobs. They are then faced with the question of what they do next. They may file for unemployment benefits and look for another job. Others may consider buying a franchise or starting their own business. This article discusses the advantages and disadvantages of buying a franchise versus starting a business from scratch. |
|
|
The Franchise Ambush, Part II - How to Help Your Friends & Family Help You.
| |
| This article dicusses the type of advice potential business owners normally receive from friends and family and provides a more balanced outlook on how to discover the best business opportunity for you. |
|
|
Is Franchising Scary?
| |
| You really shouldn't be afraid of starting a franchise development program. |
|
|
Understanding the Franchise Disclosure Document (FDD)
| |
| This article provides a frame of reference to study the FDD further while coveri the primary topics discussed in the FDD. It also provides information on where to secure more detailed information on the FDD. |
|
|
Does Franchise Growth Indicate a Successful Franchise?
| |
| This article discusses the importance of franchise system growth in your due diligence. It discusses the give and takes of growth and provides way to interpret the information you gather. |
|
|
Franchise Legislation in Canada
| |
| A brief overview of Canada's franchise laws |
|
|
Things to Watch Out for When Buying a Franchise
| |
| When thinking of buying a franchise, there are many aspects you have to think over carefully. This is not a simple business investment and can greatly affect your career. In the current business environment, you’ll be leasing a franchise business rather than actually buying one in the traditional sense. |
|
|
Renewal in Franchising
| |
| If you’ve been thinking about starting your business maybe you should consider buying into a franchise as this will give you a bit of a head start, instead of building a business starting with the bare essentials or even less. |
|
|
Doing Your Homework: How To Get The Facts On A Small Business Franchise
| |
| The old adage of "look before you leap" is never more true than when it comes to starting your own small business franchise. Knowing all the facts before starting your own home based business is a must and will set your business up for success. Here's some good information on what to expect and what it takes to start your own small business franchise. |
|
|
Film Production: Financing and Investment Issues
| |
|
Film financing is one of the most difficult and least understood challenges facing a producer and it is fraught with perils for the unwary. Many independent film producers find themselves caught in the “Producer’s Paradox” namely: “You can’t sign talent and develop your screenplay without financing, but you can’t obtain financing without talent and a polished script.” Given that most film producers do not want to use their personal assets to fund their films, the most important issue for many producers is how to finance their film project with other people’s money.
|
|
|
Buying Into a New Franchise System
| |
| Being the 'First cab off the rank' - the first Franchisee into a new franchise system is very risky and it need twice as much thought and consideration before commiting oneself to a binding contract.
However, there are some very positive aspects to being the number one Franchisee.
You will need to be braver, spend more time investigation the offer and getting to knoe the integrity of the Franchisor.
Special deals and special conditions can be negotiated which will be of benefit to both the Franchisee and the Franchisor. |
|
|
Government Regulation of Franchises
| |
| In the United States, all franchisors must abide by the Federal Trade Commission's (FTC) Franchise Rule, which requires franchisors to prepare a disclosure document called the Uniform Franchise Offering Circular (UFOC ) / Franchise Disclosure Document (FDD) and give a copy of that document to prospective franchisees prior to their purchase of a franchise. |
|
|
About Franchise Lawsuits
| |
| Always look into a company's background before you decide to invest in a franchise. After all, the last thing you want to do is throw your money into a concept that carries a history of trouble. |
|
|
The FTC on Earnings Claims Statements
| |
| Are you considering buying a franchise? One of the first steps you ought to take is to determine whether that franchise is doing well or poorly financially, which involves determining what the franchise’s actual quarterly and/or annual earnings are. |
|
|
Explaining the Differences Between the UFOC and the FDD
| |
| The new FTC rules have bought smiles in the face of the franchisors and franchisees alike. It has made giving earning claims easier for the franchisors while the franchisees are duly warned whether they have to compete against the franchisor or another franchisee within its demarcated territory. |
|
|
Big Changes Coming in Franchise UFOC Meet the FDD
| |
| The UFOC is going to have a major change as per new FTC ruling and will be renamed as FDD. It has to be implemented by July this year. The changes include modification of the name of the items and major alterations in litigation history disclosure. |
|
|
A Checklist for Franchising Your Business
| |
| Franchising your business is a major undertaking. Here is an essential to-do list for the prospective franchisor. |
|
|
Recent Issues of Importance in Franchising -- Franchise Lawyer Canada
| |
| This article examines some of the current legislative and judicial developments occuring in Canadian franchising.
peter macrae dillon franchise franchisor lawyer attorney Toronto Ontario Canada www.franchiselaw.ca |
|
|
Investigating Franchise Offerings
| |
| Many people dream of being an entrepreneur. By purchasing a franchise, you often can sell goods and services that have instant name recognition, and you can obtain training and ongoing support to help you succeed. But be cautious. Like any investment, purchasing a franchise is not a guarantee of success. |
|
|
Investigating Franchise Offerings
| |
| Many people dream of being an entrepreneur. By purchasing a franchise, you often can sell goods and services that have instant name recognition, and you can obtain training and ongoing support to help you succeed. But be cautious. Like any investment, purchasing a franchise is not a guarantee of success. |
|
|
Investigating Franchise Offerings
| |
| Many people dream of being an entrepreneur. By purchasing a franchise, you often can sell goods and services that have instant name recognition, and you can obtain training and ongoing support to help you succeed. But be cautious. Like any investment, purchasing a franchise is not a guarantee of success. |
|
|
Investigating Franchise Offerings
| |
| Many people dream of being an entrepreneur. By purchasing a franchise, you often can sell goods and services that have instant name recognition, and you can obtain training and ongoing support to help you succeed. But be cautious. Like any investment, purchasing a franchise is not a guarantee of success. |
|
|
Investigating Franchise Offerings
| |
| Many people dream of being an entrepreneur. By purchasing a franchise, you often can sell goods and services that have instant name recognition, and you can obtain training and ongoing support to help you succeed. But be cautious. Like any investment, purchasing a franchise is not a guarantee of success. |
|
|
Investigating Franchise Offerings
| |
| Many people dream of being an entrepreneur. By purchasing a franchise, you often can sell goods and services that have instant name recognition, and you can obtain training and ongoing support to help you succeed. But be cautious. Like any investment, purchasing a franchise is not a guarantee of success. |
|
|
Investigating Franchise Offerings
| |
| Many people dream of being an entrepreneur. By purchasing a franchise, you often can sell goods and services that have instant name recognition, and you can obtain training and ongoing support to help you succeed. But be cautious. Like any investment, purchasing a franchise is not a guarantee of success. |
|
|
The Regulation of Franchising in PEI -- Franchise Lawyer Canada
| |
| This article examines the regulation of franchising in Prince Edward Island, Canada, pursuant to the Franchises Act of PEI.
peter macrae dillon franchise franchisor lawyer attorney Toronto Ontario Canada www.franchiselaw.ca |
|
|
Franchisor Best Practices
| |
| Looking to operate an excellent franchise system? Franchisors should look to implement as many of these "best practices" as possible.
peter macrae dillon Siskinds franchise franchisor franchising lawyer attorney Toronto Ontario Canada www.franchiselaw.ca |
|
|
Franchise Laws In North America
| |
| This paper compares Canadian franchise legistlation found in Ontario and Alberta with the Uniform Franchise Offering Circular and Federal Trade Commission disclosure regimes found in the registration states in the US.
peter macrae dillon Siskinds franchise franchisor franchising lawyer attorney Toronto Ontario Canada |
|
|
PreSale Franchise Disclosure in Ontario
| |
| Since the passage of the Wishart Act, franchisors in the province of Ontario have found themselves bound to perform various duties and tasks in the operation, and primarily the sale, of their franchise system. The greatest single feature of the Wishart Act is a broad pre-sale duty to disclose information about the franchisor, the system, and its franchisees.
This paper will set out various areas which franchisors and their lawyers should consider a potential minefield of liability, exemptions from the Wishart Act’s disclosure requirement; and the penalties and remedies that aggrieved franchisees can seek against a non-compliant franchisor.
peter macrae dillon franchise franchisor franchising lawyer attorney Toronto Ontario Canada siskinds |
|
|
Rescinding Your Franchise Agreement
| |
| This article examines and comments on the Ontario Court of Appeal’s decision in 1490664 Ontario Ltd. v. Dig This Garden Retailers Ltd. In particular, it focuses upon the Court’s decision with respect to the interplay of sections 6 and 7 of the Arthur Wishart (Franchise Disclosure) 2000 Act and whether a franchisee must elect between remedies, namely, rescission or damages.
peter macrae dillon franchise franchisor lawyer attorney Toronto Ontario Canada |
|
|
FRANCHISE EARNINGS CLAIMS – PART II
| |
| Franchise Earnings Information (Part 2)
Part 1 of this article discussed how current Ontario and Alberta law makes it difficult to provide franchise prospects with information about how much they can expect to make in any given franchise. In Part 2 of this article, Peter Macrae Dillon discusses the advantages and disadvantages of including earnings information in a franchise disclosure document and how to prepare earnings information for inclusion in a disclosure document.
Should we provide earnings information in our disclosure document? |
|
|
FRANCHISE EARNINGS CLAIMS – PART II
| |
| Franchise Earnings Information (Part 2)
Part 1 of this article discussed how current Ontario and Alberta law makes it difficult to provide franchise prospects with information about how much they can expect to make in any given franchise. In Part 2 of this article, Peter Macrae Dillon discusses the advantages and disadvantages of including earnings information in a franchise disclosure document and how to prepare earnings information for inclusion in a disclosure document.
Should we provide earnings information in our disclosure document? |
|
Other disclosure document Related Articles
|
Investigating Franchise Offerings
| |
| Before investing in any franchise system, be sure to get a copy of the franchiser's disclosure document. Sometimes this document is called a Franchise Offering Circular. Under the FTC's Franchise Rule, you must receive the document at least 10 business days before you are asked to sign any contract or pay any money to the franchiser. You should read the entire disclosure document; make sure you understand all of the provisions. The following outline will help you to understand key provisions of typical disclosure document as well as ask questions about the disclosures. Get a clarification or answer to your concerns before you invest. |
|
|
FRANCHISE EARNINGS CLAIMS – PART II
| |
| Franchise Earnings Information (Part 2)
Part 1 of this article discussed how current Ontario and Alberta law makes it difficult to provide franchise prospects with information about how much they can expect to make in any given franchise. In Part 2 of this article, Peter Macrae Dillon discusses the advantages and disadvantages of including earnings information in a franchise disclosure document and how to prepare earnings information for inclusion in a disclosure document.
Should we provide earnings information in our disclosure document? |
|
|
16 Things You Should Know about Ontarios Franchise Legislation
| |
| Ontario, Canada's most populous province and economic engine, introduced franchise legislation in 2000. A surprising number of franchise systems are unaware of what they need to do to comply. This article examines what a franchise is, including possible exemptions available. It then discusses how to properly prepare a franchise disclosure document, and how to provide the document to franchise prospects in a way that complies with the law. The ability to rescind for improper disclosure, and to sue for misrepresentation, is also discussed. Finally, the requirement that parties to a franchise agreement deal with each other fairly, in good faith, and in a commercially reasonable way, is discussed. Great read for franchisees and franchisors alike!
peter macrae dillon franchise lawyer ontario attorney canada |
|
|
Government Regulation of Franchises
| |
| In the United States, all franchisors must abide by the Federal Trade Commission's (FTC) Franchise Rule, which requires franchisors to prepare a disclosure document called the Uniform Franchise Offering Circular (UFOC ) / Franchise Disclosure Document (FDD) and give a copy of that document to prospective franchisees prior to their purchase of a franchise. |
|
|
Hey Ive received an FDD Where in the world do I start this thing is huge
| |
| You are working your way throughthe franchise process and now you have a franchise company's Franchise Disclosure Document and it is several hundred pages. In this 5th article in our series we explain what the intention of the FDD is as well as what to look for when you receive it. This is a critical document and knowing what and where to look is critical. Read on for a description and guide for reviewing a franchise company FDD. |
|
|
A Favorable Determination From The EDD
| |
| Even if you "document, document, document", you still need to be aware of "how" to present those documents. This article will present a case in point. |
|
|
Special Issues for a Subfranchisor
| |
| If you want the right to sell franchises on behalf of a franchisor and, perhaps, also operate your own franchises, you may want to become a subfranchisor. A subfranchisor is sometimes called a "master franchisee," particularly in international deals. A subfranchisor steps into the shoes of the franchisor and acts as the franchisor in a given area (for example, state or county). A subfranchisor sells its own franchises and directly enters into a franchise agreement with a franchisee. The franchisor is not a party to the franchise agreement.
A subfranchisor is subject to the FTC Franchise Rule and state franchise registration and disclosure laws to the same extent as a franchisor. Therefore, a subfranchisor is obligated to have its own Franchise Disclosure Document. |
|
|
Special Issues for an Area Representative
| |
| An area representative is best described as a "super" franchise broker and servicing agent for the franchisor. You will be disclosed in ITEMS 2, 3 and 4 of the franchisor's Franchise Disclosure Document with your 5-year biography and litigation and bankruptcy history if you will have management responsibility relating to the sale or operation of franchises. An area representative differs from a subfranchisor in that the area representative uses the franchisor's Franchise Disclosure Document and the franchise agreement is signed directly between the franchisor and the franchisee. The area representative is not a party to the franchise agreement. Under the area representative agreement between the franchisor and the area representative, the franchisor delegates to the area representative certain of the servicing and support obligations |
|
|
E-Mailing the Franchise Disclosure Document to Prospective Franchisees
| |
| Under the FTC Franchise Rule,a franchisor can deliver the Franchise Disclosure Document (“FDD”) electronically by e-mailing the FDD in a pdf form or mailing a FDD copied on to a CD-ROM to a prospective franchisee. The first personal meeting requirement has been eliminated. The prospective franchisee must have the FDD and Exhibits at least 14 calendar days before the franchisee signs any agreement with the franchisor or gives the franchisor any money. Electronic delivery of the FDD disclosure will save the franchisor substantial time and money as the cost of copying and mailing a Franchise Disclosure Document and Exhibits, let alone personnel cost, really adds up. The FTC estimates that the cost to copy and mail a disclosure document is about $35.00 each. The states having franchise registr |
|
|
How To Investigate Franchise Offerings
| |
| Before investing in any franchise system, be sure to get a copy of the franchiser's disclosure document. Sometimes this document is called a Franchise Offering Circular. Under the FTC's Franchise Rule, you must receive the document at least 10 business days before you are asked to sign any contract or pay any money to the franchiser. You should read the entire disclosure document; make sure you understand all of the provisions. The following outline will help you to understand key provisions of typical disclosure document as well as ask questions about the disclosures. Get a clarification or answer to your concerns before you invest. |
|
Featured Article
Work On Your Business A Key Factor For Achieving Small Business Growth
by: Casey Gollan, Melbourne Business Coaching
by: Casey Gollan, Melbourne Business Coaching
How to find the right Opportunity and why 97% fail! Part II
I Need to Read My Own Book
Fear Factors in Small Business: Sales & Marketing
Pricing strategies
Start Off The New Year With A Low Cost Small Business Franchise
Newsletter
Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!
Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!
Popular Articles
Making the Most of Your Trade Show Experience
3 Key Factors For Raising Capital
Google Panda and Your Search Engine Rankings
Making the Most of Your Trade Show Experience
3 Key Factors For Raising Capital
Google Panda and Your Search Engine Rankings
Suggestions
Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.
Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.