On October 22, Julie Cowan Lusthaus wrote a piece on this blog about franchisors helping their franchisees obtain financing in this difficult credit market. In the past couple of weeks, as the credit markets have tightened to the point where they are frozen, it seems as if no one is talking about anything else in …
In the current economy, questions arise more than ever about how to finance the purchase of a franchise. In fact, many people think that it simply will not be possible to borrow money for the purchase of a franchise. While it is true that it may be more difficult and that lenders are being more …
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There are many individuals running successful small businesses who decide that franchising their concept is the best way to grow. With the assistance of franchise counsel and sometimes business consultants, they develop a business model and create the appropriate franchising documentation; registering their franchise disclosure document (“FDD”) where necessary. At this point they enter into …
Even in an economic environment as troubling and uncertain as the current one, the only way for a business to survive is to grow. For many smaller businesses, asking how to grow inevitably leads to an inquiry into the possibility of franchising. So, is your business right for franchising? The answer is not always apparent, …
What are franchisees supposed to do when a franchisor goes out of business? Given the current state of the economy, a number of franchisors are either filing or contemplating petitions in bankruptcy or simply ceasing operations (see this Blog’s entry of July 30). There are many reasons why this is happening, but the common result is …
Wednesday’s Wall Street Journal article, “Dining Chains Shut Doors” by Jeffrey McCracken and Janet Adamy, discusses the Chapter 7 bankruptcy liquidation filing of Plano, Texas-based Metromedia Restaurant Group, the parent company of Bennigan’s and Steak and Ale. Although the 138 franchisee-owned Bennigan’s sites were not included in the filing and apparently intend to remain open, they will …
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