Franchising Your Business Should Not Be Smoke and Mirrors
Franchising Your Business Should Not Be Smoke and Mirrors
Yes this is all so true. Some of our unnamed competitors have been under investigation and currently in litigation for making misrepresentations when selling franchises for their clients. Evidently, several franchisees have come forward alleging that this franchise development company misrepresented their client because they had a vested interest in the client's company making negligent misrepresentations, concealment of information, conspiracy and breach of contract. The prosecuting attorney has said "This company completely stepped out of the role of being franchise consultants and became their client's partner, joint venturer and legal counsel".
This supports my position that a franchise development company who also sells franchises for their clients is a conflict of interest. If you come across a company that offers this service and if they also require that you give them a percentage of the company to defer fees, RUN. Not only are you jeopardizing the integrity of your business, but also future franchisees who buy into your system.
Other published reports confirm that our unnamed competitors have had their attorneys walk out on them refusing to be associated with the franchise development company. It has also been reported that just last week some of these franchise development companies have laid off key personnel after failing to meet payroll. It is unclear how extensive these layoffs will be.
Bottom line, if you are shopping our competitors, do your due diligence so you do not inherit unnecessary headaches and legal challenges.
Franchising Your Business Should Not Be Smoke and Mirrors - To learn more about this author, visit David R Waldman's Website.
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I cannot stress enough how important it is to investigate the franchise development company you are thinking of using when franchising. It is very disturbing to uncover that some of The Franchise Maker's competitors are facing serious litigation, tax fraud and are under investigation for deceptive practices.
Yes this is all so true. Some of our unnamed competitors have been under investigation and currently in litigation for making misrepresentations when selling franchises for their clients. Evidently, several franchisees have come forward alleging that this franchise development company misrepresented their client because they had a vested interest in the client's company making negligent misrepresentations, concealment of information, conspiracy and breach of contract. The prosecuting attorney has said "This company completely stepped out of the role of being franchise consultants and became their client's partner, joint venturer and legal counsel".
This supports my position that a franchise development company who also sells franchises for their clients is a conflict of interest. If you come across a company that offers this service and if they also require that you give them a percentage of the company to defer fees, RUN. Not only are you jeopardizing the integrity of your business, but also future franchisees who buy into your system.
Other published reports confirm that our unnamed competitors have had their attorneys walk out on them refusing to be associated with the franchise development company. It has also been reported that just last week some of these franchise development companies have laid off key personnel after failing to meet payroll. It is unclear how extensive these layoffs will be.
Bottom line, if you are shopping our competitors, do your due diligence so you do not inherit unnecessary headaches and legal challenges.
Franchising Your Business Should Not Be Smoke and Mirrors - To learn more about this author, visit David R Waldman's Website.
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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