New Website Brings Franchise Lawyers and Franchise Info Together?
Can a "One Size Fits All" website be the new 'best thing' for franchising?
"Responding to the growing demand for reliable online franchise information and resources, the site works as a comprehensive primer on converting a business into a franchise, working as a franchisor, or becoming a franchisee. In addition, it aims to match visitors with attorneys specializing in franchise law who can assist them in navigating the legal steps involved with their business and expansion." - PRWeb
However, material such as that below may make franchisees question the validity of some of the information this new site provides:
". . .The advantage of buying into a franchise is that the buyer gets to become part of an already successful formula, with an established brand name, instead of taking the time and effort of trying to build their own business from scratch. This puts them at a considerable advantage, as statistically franchises have a much higher rate of success than new businesses because of their built-in formula for success and existing base of customers.
However, there are still risks involved with franchising, such as if other franchises within your brand fail to perform they can sully the reputation of the entire franchise chain. Your franchise may only be as strong as its weakest link, and if the franchisor does not carefully choose and monitor his franchisee’s units, you could be adversely affected by someone else's lack of quality control or poor business management skills. It’s always best to do your homework before ever becoming involved with a franchise opportunity, or before franchise development of your own business, to make sure that the franchising formula is right for you." - MyFranchiseLaw
Statements such as ". . .statistically franchises have a much higher rate of success than new businesses. . ." have been discredited by several government studies and commentary only blaming franchisees for the failure (a typical franchisor tactic) possibly raises the question: Who is the ultimate authority of this site and what is the origin of this information?
Very misleading site
From the site: "the International Franchise Association (www.franchise.org) was founded, to regulate and monitor the franchising industry, improving standards for franchisors and franchisees alike. The IFA works with the Federal Trade Commission and U.S. Congress to maintain a high standard of activity within the industry and improve industry relations."
News to most of us.
Re: Very Misleading Site
Well, actually, how misleading is it? "The IFA works with the Federal Trade Commission and U.S. Congress to maintain a high standard of activity within the industry and improve industry relations." In this they kind of do, don't they? Granted it is through lobbying and campaign contributions including both the FTC and Congress (thereby improving "industry relations") so the laws can be written to allow for the misrepresentation of earnings and statistics which in turn helps "maintain a high standard of activity within the industry" (read: franchise sales and churning)
Sure is news to me. Could I have been dead wrong about
franchising all these years?
I went looking for a lawyer
in Texas and New York. First as a franchisee and then as a franchisor. Apparently these States are a little sparse on lawyers and there was only 1 referral;
Norman Yatooma & Associates, P.C.
219 Elm Street
Birmingham, MI 48009-6306
So there is some real depth to this site.
While these sites are dangerous for the gullible, unsuspecting prospective franchisee they are also incredibly boring. They all make the same false claims and they've run out of variations on how to make those claims sound.
Now as a franchisor could you seriously expect much more expertise than is on offer for the franchisee when the fundamental basis of claims is built in almost zero reality.. It seems duping franchisees is where the bread and butter revenue is; but duping franchisors pays for Santa.
Well said Ray.
The zor wins and the zees are left in the lurch. The problem is many zees don't know about franchise attorneys. Hopefully BMM is educating people, and they will go to the right counselors.
When did you do that, Ray?
Norman is a good man. And he runs a good kick ass law firm.
I don't know Norman
but the point is that this site leaves him as now solely servicing franchising from NY to TX. That doesn't challenge Norman's credibility but it does add to the credibility challenge for the site.
The site in part reads as if its been established for some time but when you look it has limited scope.
OK - Now I understand - You were talking about the limitations
of the site. Well, from its approach, I don't think the site owner is any more up to speed than say Entremanure Magazine or folks of that ilk. If that is to continue to be its level of depth, it has about the life expectancy of what is just being introduced here in Houston this week - High end cupcakes at a store in the most expensive boutique real estate center in town. "High end cupcakes are about to take off" is their mantra.
Kinda reminds me of Flip Flops Franchising last year - High end flop flops are the in thing in Hollywood according to theses FranWhackos..
Come to think of it, the cupcake deal is said to have started in Hollywood. Hmmm. Cound the flop flop fools now be doing cupcakes?
A fool and his money
… if you want it here it is, come and get, but you better hurry because its going fast
Some lyrics from the original franchising theme song. Some where in there it asks; ‘can I walk away from a fool and his money’ which leads to the age old justification for every despicable connivance played on every sucker.
If I didn’t … someone else would have
All the site needs are some Google ads, and it will be world-class.
Thanks for the valuable input
Everyone, thank you all for your comments. As you may have noticed the myfranchiselaw.com site is in beta release, and to be honest we are surprised at the amount of discussion and press it is getting. As it is in beta though we realize there will be tweaking of the information, as well as the addition of new information. We are very happy to see dialog resulting from our site and are grateful for any constructive criticism that experts in the industry are offering!
If you would like to contact me directly with your thoughts please feel free to email me at Tim@myfranchiselaw.com . I am happy to discuss ways to continually make the site better!
As for our list of very qualified attorneys; we are adding more every day. As mentioned above our site is in a beta release, and as you all know everyone must start somewhere. We feel very confident the attorneys we are allowing in the beta program offer services that shed a positive light on the industry and we hope you will all consider the information valuable.
Again, thank you all for your critiques and we hope you will continue to check in on the advancements the myfranchiselaw.com site is making!
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Misleading Statistics a Purposeful Marketing Ploy?
Between my June 3rd posting of the Francorp Philippines story, the current BP story on BMM and now this one it is interesting how often these discredited statistics appear. Is the mention of these misrepresentations increasing in frequency or is this the norm? With the sales of franchises becoming more difficult due to financing (and more negative stories about franchising finally making it into the mainstream press), could this be the resurrection of the old ploy "if you say something often enough the people will believe it?