Franchise News
Franchise Times: Emerging Brands Stay Sound with Help From Solid Data
Steve Beagelman, president and CEO of SMB Franchise Advisors advises franchisors to be wary of making a FDD too strict.
For any emerging franchise, making sure to be buttoned up on the legal side will be key to long-term success and avoiding stressful problems. In the "Living Large" section of a recent issue of Franchise Times, they looked at how brands can use data and keep records for long-term success. However, Steve Beagelman, president and CEO of SMB Franchise Advisors, warned that dropping to heavy of a legal hammer in the FDD in the early stages can stifle growth.
"You want to have clauses in the contract that protect you as the franchisor and if you are an emerging brand, you need protection rights. But if you make it too strict of a document, you might not get those first franchisees to sign up," Beagelman told Franchise Times.
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About the Author
Brian Jaeger
FollowBrian Jaeger is a Vice President of Media Relations at No Limit Agency. Brian joined No Limit Agency after seven years working for local television news stations in Florida, four years at WCJB in Gainesville and three years at Bay News 9, the 24-hour local news station in the Tampa Bay area. Brian is a graduate of the University of Florida, where he studied journalism and telecommunications. He brings a journalist’s viewpoint to the public relations field, and when he’s not busy telling the stories of No Limit Agency's brands, you can find him writing, on a karaoke stage, or cheering on the Gators.
