CHALLENGE Marisa Fuller was a fitness enthusiast who met her health goals through pilates and boutique fitness memberships. Driven by her own...
Our clients operate a home cleaning franchise in New York. The business remained resilient despite major recent issues, like the emergence of the COVID-19 pandemic, inflation and supply chain risks.
As the clients neared the conclusion of their first 10-year franchise agreement, they needed to decide on whether to renew for another 10 years or walk away from the business. In order to renew, a franchisee will almost never sign a franchise agreement that is the same as the prior agreement with a new expiration date.
Our client was a franchisee in New York who owned a franchise location that offered acai bowls and smoothies. The business was popular, profitable and had a reliable local consumer base for in-person dining, takeout and delivery service. The business was performing so well, in fact, that a local entrepreneur approached our client to purchase the franchise unit for a favorable amount. The chance to sell and turn a profit was very enticing but reality quickly set in, as the client realized she was in unchartered territory: This was the client’s first and only unit, and had never sold a business before.
CHALLENGE: Our client was a multi-unit operator of a gym franchise with several successful locations throughout New York City. The brand specialized in offering top-notch equipment, personable employees, clean workout areas, fitness classes, and personal training sessions. This client had a strong local presence and a positive reputation; they held steady membership numbers, even during the pandemic, and engaged with their clientele through social media and digital offerings.
CHALLENGE: A quick-service restaurant had several successful restaurant locations throughout New York City. The brand specialized in offering healthy menu items prepared from locally-sourced ingredients. The owners wanted to expand the restaurant system throughout the U.S. and debated whether franchising would be the best way to accomplish the expansion.
CHALLENGE: Our clients wanted to acquire the right to develop several fitness franchises that offered personal training and fitness services to customers from retail outlets. The clients hired us to review with them the franchise disclosure document (FDD), the franchise agreement and development agreement.
Are You Ready to Be a Franchisor?
Are you looking to franchise your business? Not sure where to start? In this exclusive guide for business owners and entrepreneurs, you will learn if you’re ready to grow your brand through franchising.