Win Big at Franchising Podcast | The Internicola Law Firm

Win Big at Franchising Podcast | The Internicola Law Firm

By Charles InternicolaBusiness
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Win Big at Franchising Podcast | The Internicola Law Firm episodes

  • #19: How to Make Money as a Franchisor

    There are three main revenue streams franchisors receive from their franchisees:

    1. Initial Franchise Fee
    2. Ongoing Royalty Fees
    3. Rebates  

      4. If you want to learn more about franchising or are looking for a community of supportive franchise industry professionals…

      READ MORE: https://www.franchiselawsolutions.com/learn/grow-your-franchise/how-to-make-money-as-a-franchisor

      SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4ML...

      CONTACT US: https://www.franchiselawsolutions.com/

      JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/14645...

      LIKE us on Facebook: https://www.facebook.com/entrepreneur...

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      12 min
    4. #18: Don't Hire a Franchise Consultant if you see these Warning Signs!

      If you're franchising your business and you come across a franchise consultant that claims they're a "one stop shop", here are major warning signs to look out for before you consider hiring them.  Charles N. Internicola even goes through two consultant's proposals and breaks down why you should take caution if you're considering hiring them to franchise your business.

      If you want to learn more about franchising or are looking for a community of supportive franchise industry professionals…

      READ MORE: https://www.franchiselawsolutions.com/learn/franchise-your-business/dont-hire-a-franchise-consultant-if-you-see-these-warning-signs

      SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4ML...

      CONTACT US: https://www.franchiselawsolutions.com/

      JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/14645...

      LIKE us on Facebook: https://www.facebook.com/entrepreneur...

      FOLLOW us on Instagram: https://www.instagram.com/entrepreneu...

      18 min
    5. #17: 3 Reasons Why Your Franchise Lawyer May Be Costing You Deals

      For some franchise brands the legal process can be frustrating. You spend tons of money, time, planning, and effort to attract, recruit, and on-board new franchisees and along the way come legal obstacles. These obstacles come in different forms and varieties and what they all share in common is that they cost deals, add unnecessary frustration, and, so much more often than not, are avoidable. They're also a sign that you're not getting the legal support that you need and deserve.  

      Why does this happen? Well you may not be working with the right legal partner for your brand, and below, we list 3 reasons why your legal team may be costing you deals:  

      1:13 Your FDD Does Not Meet Best Practices 

      6:19 Your Registrations are Delayed and Your Sales Go Dark  

      8:46 Attorney Communication, Access, and Turnaround Takes too Long

      If you want to learn more about franchising or are looking for a community of supportive franchise industry professionals…

      READ MORE: https://www.franchiselawsolutions.com/learn/grow-your-franchise/3-reasons-why-your-franchise-lawyer-may-be-costing-you-deals

      SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4ML...

      CONTACT US: https://www.franchiselawsolutions.com/

      JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/14645...

      LIKE us on Facebook: https://www.facebook.com/entrepreneur...

      FOLLOW us on Instagram: https://www.instagram.com/entrepreneu...


      12 min
    6. #16: When is the Right Time to Franchise Your Business?

      Factors to consider if it's the right time to franchise your business includes:  

      1. Your Track Record
        2. - How long has your business been open?
        - Do you have systems in place?
        - Do you have strong unit level economics?  
        - Have you differentiated your business from your competition?
      2. Industry
        3. - Are you well capitalized?
        - Are you working with the right team?
        - Are your financial numbers superior or at least consistent with industry benchmarks?
      3. Founder Goals
        4. - Do you want to want to expand the reach of your business through franchising?
        - Do you want to transition from business operator to founder of a franchise organization?
        - Are you ready to focus on a 5 year strategy?

        If you want to learn more about franchising or are looking for a community of supportive franchise industry professionals…

        READ MORE: https://www.franchiselawsolutions.com/learn/franchise-your-business/when-is-the-right-time-to-franchise-your-business

        SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4ML...

        CONTACT US: https://www.franchiselawsolutions.com/

        JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/14645...

        LIKE us on Facebook: https://www.facebook.com/entrepreneur...

        FOLLOW us on Instagram: https://www.instagram.com/entrepreneu...

        10 min
      4. #15: What are Item 19 Financial Performance Representations? | Franchise Your Business

        Everyone wants to know how much they can make when they buy a franchise. For franchisors who want to sell franchises, few things are more important than an Item 19 Financial Performance Representation in their FDD.   What is an Item 19 Financial Performance Representation? It's any statement whether it's public, private, oral, or written about sales, income, or profits. This includes historical, actual, or projected financial data (including pro formas).   

        So what happens when a franchisee candidate asks, "How much can I make", "What are your sales", or "What are your profits"?  THE RULE As a franchisor, you CANNOT provide financial performance representations UNLESS it's disclosed in your FDD Item 19 and it has to be representative of the franchised business.

        If you want to learn more about franchising or are looking for a community of supportive franchise industry professionals…

        READ MORE: https://www.franchiselawsolutions.com/learn/franchise-your-business/financial-performance-representations

        SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4ML...

        CONTACT US: https://www.franchiselawsolutions.com/

        JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/14645...

        LIKE us on Facebook: https://www.facebook.com/entrepreneur...

        FOLLOW us on Instagram: https://www.instagram.com/entrepreneu...


        7 min
      5. #14: What Stage You Need to be at to Franchise your Business

        Your business is growing, cash flow is good, and you know there's opportunity for expansion. You may be thinking about franchising your business. You want to know if you're ready and what stage does your business need to be at to franchise?  To be franchise ready you need to have the right numbers, founder mindset, and a scalable business. In this video we discuss each of these factors:  

        1. The Numbers - The most common questions that franchisee candidates and franchise brokers ask is "how much do you make and how much can I make?" In the franchise world, this is called "Financial Performance Representations" and in order to speak about cash flow, it must be properly disclosed in your FDD. So, if you're profitable after accounting for lower sales and increased expenses that your franchisees will experience (including fees that will be paid to you as franchisor) your franchisees will be profitable and, potentially generate a good ROI on the investment they make in establishing a new franchised location.
        2. Founder / Team Mindset - The same passion that you put into developing and growing your business is the same passion that you need to put into franchising. Can you envision yourself learning franchising, building a franchise organization, attending franchise development conferences, and building, over time, a franchise organization?
        3. Scalability - Your business needs to be scalable. The systems, processes, and supply chain that you've built need to be capable of supporting franchisees and providing them with that extra edge that they'll need to succeed. This all doesn't need to be in place on day 1 but it needs to be there and, over time, needs to become a part of a system that you continuously improve for your franchisees.

          4. READ MORE: https://www.franchiselawsolutions.com/learn/franchise-your-business/what-stage-do-you-need-to-be-at-to-franchise-your-business

          SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4ML...

          CONTACT US: https://www.franchiselawsolutions.com/

          JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/14645...

          FOLLOW us on Instagram: https://www.instagram.com/entrepreneu...

          8 min
        4. #13: What is Franchising and What Does it Mean to Franchise Your Business?

          Franchising is a legal and business relationship where you take what has worked for your business (your brand, your systems, your know-how, your products and services) and legally authorize other individuals--your franchisees-- to open new locations using your brand name and requirements that you set.   

          The characteristics that create a franchise includes an agreement that involves: 

          1. The license of a trademark. 
          2. The payment of a fee 
          3. Control over what can and cannot be done in the business.

            4. If you want to learn more about franchising or are looking for a community of supportive franchise industry professionals…

            READ MORE: https://www.franchiselawsolutions.com/learn/franchise-your-business/what-is-franchising 

            SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4ML...

            CONTACT US: https://www.franchiselawsolutions.com/

            JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/14645...

            LIKE us on Facebook: https://www.facebook.com/entrepreneur...

            FOLLOW us on Instagram: https://www.instagram.com/entrepreneu...

            6 min
          4. #12: Franchise Consultants vs. Franchise Lawyers | Who Do I Need to Franchise My Business?

            The difference between a franchise lawyer and a franchise consultant is that a franchise lawyer prepares the legal documents needed to franchise a business and sell franchises while a franchise consultant assists in operational tasks like planning a franchise sale strategy, budgeting, and operations manual development.   

            Franchise consultants are not franchise lawyers and franchise consultants are not qualified to prepare  legal documents like the franchise disclosure document (FDD) and franchise agreement. Franchise consultants are sometimes also referred to as franchise developers.

            If you want to learn more about franchising or are looking for a community of supportive franchise industry professionals…

            READ MORE: https://www.franchiselawsolutions.com/learn/franchise-your-business/franchise-consultants-versus-franchise-lawyers

            SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4ML...

            CONTACT US: https://www.franchiselawsolutions.com/

            JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/14645...

            LIKE us on Facebook: https://www.facebook.com/entrepreneur...

            FOLLOW us on Instagram: https://www.instagram.com/entrepreneu...

            11 min
          5. #11: Coronavirus and Franchising: Tactics to Implement Part 2

            Charles N. Internicola and Nick Powills take a deep dive and talk about tactical steps franchisors can take in the short term and intermediate during the COVID-19 pandemic.

            If you want to learn more about franchising or are looking for a community of supportive franchise industry professionals…

            READ MORE: https://www.franchiselawsolutions.com/learn/franchise-your-business/coronavirus-covid-19-and-franchising 

            SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4ML...

            CONTACT US: https://www.franchiselawsolutions.com/

            JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/14645...

            LIKE us on Facebook: https://www.facebook.com/entrepreneur...

            FOLLOW us on Instagram: https://www.instagram.com/entrepreneu...

            1 hr 10 min
          6. #10: Coronavirus and Franchising: Q&A with Franchisors

            Charles N. Internicola and Nick Powills interview Justin Waltz from Big Blue Swim School and Philip Schram from Buffalo Wings and Rings to get their insights on how to overcome the COVID-19 pandemic.

            If you want to learn more about franchising or are looking for a community of supportive franchise industry professionals…

            READ MORE: https://www.franchiselawsolutions.com/learn/franchise-your-business/coronavirus-covid-19-and-franchising

            SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4ML...

            CONTACT US: https://www.franchiselawsolutions.com/

            JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/14645...

            LIKE us on Facebook: https://www.facebook.com/entrepreneur...

            FOLLOW us on Instagram: https://www.instagram.com/entrepreneu...

            1 hr 2 min

          About Win Big at Franchising Podcast | The Internicola Law Firm

          From the publisher's feed

          Growing your business and achieving franchise success is within reach! But how do you know if franchising is right for you and if you're doing it right?

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