Demystifying Franchise Ownership

Evaluating any investment before committing funds is crucial as it allows for informed decision-making, mitigates risks, and maximizes the potential for long-term financial growth.  

The due diligence process is equally important for franchise investments as it helps ensure the compatibility of the franchise opportunity with one's goals, assesses the viability of the business model, and safeguards against potential pitfalls in a highly competitive market.

In this episode, I delve into 5 reasons to invest in a franchise, infused with my personal experiences and valuable takeaways on how to make an informed decision.  Here is an overview of what’s covered in this episode:

• Proven and effective business model
• Built-in brand recognition
• Training and support
• Economies of scale
• Established systems and processes

Get in touch with Kristine at:

• LinkedIn
• https://kristinegivens.com

If you've always dreamt of being your own boss and exploring the world of franchise ownership, but find yourself unsure of where to begin, look no further!  In this episode, I'll get you started on the right path.   

Join me as I unveil an overview of the initial steps that will kickstart your franchise journey.   I talk about assessing your skills, educating yourself about franchise ownership and what financial information you need to gather.

So, if you're ready to take that leap of faith and explore the world of franchise ownership, join me for this short but informative episode.   With this guidance, you'll gain the confidence and clarity needed to turn your aspirations into your initial steps. 

Get in touch with Kristine at:

• LinkedIn
• https://kristinegivens.com

In this week’s podcast, I continue my conversation with Laura Liss regarding the franchise disclosure document.  One of the items we cover in this episode, is Item 19, also known as Financial Performance Representations.   

Item 19 of a Franchise Disclosure Document (FDD) holds significant importance as it provides crucial financial performance representations to prospective franchisees.  By disclosing historical financial data, such as revenues, expenses, and profitability, it allows aspiring franchisees to make informed investment decisions.  The transparency offered by Item 19 empowers individuals to assess the franchise's potential and evaluate its viability, helping them mitigate risks and increase their chances of success in the franchising endeavor. 

Again, Laura shares her extensive knowledge and practical experience.   Tune in to the podcast and hear what Laura tells her clients.   

Laura is a franchise attorney who works with franchisees and franchisors across the country. She enjoys being her clients’ lighthouse, so she can successfully guide clients past any rocky shoals to accomplish their goals in a variety of transactions like new franchise purchases, buying or selling existing businesses, commercial leases, and trademarks. 

Laura is an attorney with Liss & Lamar P.C., and can be reached at (630) 571-1645.  You can find her on LinkedIn at https://www.linkedin.com/in/attorneylauraliss/.  

Get in touch with Kristine at:

• LinkedIn
• https://kristinegivens.com

Do you know what goes into a successful franchisor/franchisee relationship?

In this week’s podcast episode, I take a deep dive into what makes a successful franchisee/franchisor relationship.  A strong and collaborative partnership not only leads to financial success but also fosters growth, innovation, and a sense of shared purpose. 

Join me as I explore some key elements that contribute to a thriving franchisor/franchisee relationship.

Whether you're considering becoming a franchisee, you're an existing franchisee or you're a franchisor looking to strengthen your partnerships, this episode will provide you with valuable insights and actionable steps to foster success.  

Get in touch with Kristine at:

• LinkedIn
• https://kristinegivens.com

In this week’s podcast, I continue my discussion with Laura Liss, a franchise legal expert, about the franchise disclosure document. 

Laura shares her extensive knowledge and practical experience with the listeners.  In Part 2 of this three-part series, we talk about items 8-17 of the franchise disclosure document, covering supplier restrictions, financing, franchisor obligations, training, territory issues and intellectual property.

I know….it sounds like a dry topic but it’s packed with juicy tips and insights. 

It's a must listen if you are considering franchise ownership or are currently evaluating a particular franchise system.

Laura is a franchise attorney who works with franchisees and franchisors across the country. She enjoys being her clients’ lighthouse, so she can successfully guide clients past any rocky shoals to accomplish their goals in a variety of transactions like new franchise purchases, buying or selling existing businesses, commercial leases, and trademarks. 

Laura is an attorney with Liss & Lamar P.C., and can be reached at (630) 571-1645.  You can find her on LinkedIn at https://www.linkedin.com/in/attorneylauraliss/.  

Get in touch with Kristine at:

• LinkedIn
• https://kristinegivens.com

The Franchise Disclosure Document (FDD) is a critical document for prospective franchisees, providing a detailed overview of what to expect when investing in a franchise.  It covers everything from the company's background and financial performance to fees, obligations, and even potential risks.

Take a listen to this podcast where I interview Laura Liss, a franchise legal expert who has helped her clients navigate the complexities and nuances of franchising.  In this episode, she breaks down Items 1 through 7 of the Franchise Disclosure Document.

It's a long episode but a must listen if you are considering franchise ownership. Laura generously shares her vast knowledge, unpacking the complexities of the FDD.   

Laura is a franchise attorney who works with franchisees and franchisors across the country. She enjoys being her clients’ lighthouse, so she can successfully guide clients past any rocky shoals to accomplish their goals in a variety of transactions like new franchise purchases, buying or selling existing businesses, commercial leases, and trademarks. 

Laura is an attorney with Liss & Lamar P.C., and can be reached at (630) 571-1645.  You can find her on LinkedIn at https://www.linkedin.com/in/attorneylauraliss/.  

Get in touch with Kristine at:

• LinkedIn
• https://kristinegivens.com

Join us as we dive deep into the world of franchise ownership, exploring the latest industry trends and equipping franchisees with invaluable insights and strategies to conquer the challenges they face.

On today’s episode, I invited Andrew Bleiman, an attorney who focuses on everything franchise-related, to share his take on industry trends and get the inside scoop on the advice he gives his clients.  

Andrew is partner with Marks & Klein, LLC and, through his practice, works with franchisors and franchisees on franchise-related matters including the preparation and review of franchise disclosure documents, franchise agreements, area development agreements and similar documents.

Andrew is recognized as a ‘Legal Eagle’, one of the nation’s leading franchise attorneys, by the Franchise Times and co-founded the Northern Illinois Franchise Association which is an organization that supports individuals and businesses in franchising at the franchisor, franchisee and supplier levels. 

You can reach Andrew via email at [email protected].  You can also connect with him on LinkedIn at https://www.linkedin.com/in/andrew-p-bleiman-6104885/.

Get in touch with Kristine at:

• LinkedIn
• https://kristinegivens.com

Are you considering franchise ownership?  Do you have the necessary hard skills to be a successful franchisee?  

In this episode, I talk about the essential hard skills and why they're so important to a franchisee's success.  I also outline the strategies which can be employed to close any skill gaps one might have.   

The skills covered in this episode include:

1. Sales & Marketing
2. Business Operations
3. Financial Fluency
4. Human Resources
5. Project Management
6. Strategic Planning

As always, I bring my franchise and business expertise and experience to the podcast by highlighting real life examples and hard-earned lessons learned.  

This is such an important topic whether you're considering franchise ownership or are already a franchisee.  

Get in touch with Kristine at:

• LinkedIn
• https://kristinegivens.com

S1:E2

How much do you know about emotional intelligence?

In this episode, I interview my friend and colleague, Kirsten Ramos.  Kirsten is the founder of Elevate Performance Solutions, a learning and development consultancy focused on creating customized, leadership training solutions for small to mid-sized, post start-up organizations. She also coaches individuals on leadership skills to increase their awareness and success in business.

In this episode, Kirsten talks about:

• The five elements of emotional intelligence (EI)
• How to assess emotional intelligence
• Whether you need a formal assessment to assess emotional intelligence
• How you can increase your emotional intelligence
• Why emotional intelligence and soft skills are essential to the success of a franchise owner

Get in touch with Kristine at:

• LinkedIn
• https://kristinegivens.com

S1:E1

In this first episode, I share my top "aha moments” after becoming a franchise owner. The courting process with a franchisor is similar to a first date.  The franchisor puts its best foot forward and presents a prospective franchisee with all the great things about owning its franchise.  The cons may be glossed over or even omitted entirely.  So, the bottom line is I didn’t get a true representation of the franchise until months after I signed on the dotted line.  Even then,  I didn’t learn the entire story.  It took years to uncover the full story. 

Get in touch with Kristine at:

• LinkedIn
• https://kristinegivens.com