Invitation & Case Study: Did you know we help Franchisees?
You’re Invited Pure Barre Main Line Grand Re-Opening Pure Barre Main Line Case Study: Buying and Selling a Franchise Pure Barre Main Line Under New Ownership
Did you know we help franchisees?
After helping a client navigate the process of purchasing and transferring a local franchise, I became a part-owner of her Pure Barre Main Line studio location.
And I’d love to share the celebration with you.
CELEBRATE OUR GRAND [RE]OPENING!
Try a class, shop our boutique, join us for our fall open house and enjoy snacks & sips, exciting giveaways, and retail offers as we celebrate under new ownership.
No RSVP required. See you in the studio!
CELEBRATE OUR GRAND [RE]OPENING @ PURE BARRE DATE: 11/6/2021
TIME: 9:00 AM-12:00 PM
LOCATION: Pure Barre Main Line, 503 W. Lancaster Avenue, Suite 9, Wayne, PA 19087 [Eagle Village Shops]
Janelle Peyton at Pure Barre Main Line, supporting Be Kind In the Grind, a a mantra developed by one of Peyton Law’s clients that reminds us we cannot always control the circumstances, but we can control how we respond. Read the story behind it here.
CASE STUDY: BUYING AND SELLING A FRANCHISE
The franchise industry is booming. Of course you’ve heard of McDonalds, deemed the “first franchise system,” but can you name a local franchise? You might have your grass fertilized by the Lawn Doctor, or perhaps you’ve cooled off with a Kona Ice, purchased from the Vitamin Shop, tried some DIY with Ace Hardware or maybe your gym is a franchise, like Nina Harper’s Pure Barre studio.
What is a franchise? A franchise is usually defined as the method of distributing products or services, which are usually branded and trademarked. The franchisor grants a license to the franchisee to utilize the intellectual property and business system. In exchange, the franchisee pays an on-going royalty and often an initial fee.
Although a franchisor is often a large business, the franchisees operate as a typical local small business owner. They use the system developed by their (usually corporate) franchisors, but they are in the daily hustle just as any local business owner. They buy and sell their locations just like any other business would.
And they have the same risks and opportunities that other businesses do. Their relationship with the franchisor is dictated by the franchise agreement. The franchise agreement is the contract in which a business provides it brands and operational model to another party in order for that party to run a similar business in exchange for a fee and a share of the income earned. The agreement details what roles each party needs to perform and what compensation to expect. Of course, the franchise agreement favors the franchisor, so a franchisee needs solid legal representation to navigate through this, and the Franchise Disclosure Agreement, which can be over 100 pages long.
Just because they have a big business backing them, doesn’t mean they have big business resources when selling or acquiring a particular location or the rights to a geographic location. The intricacies of purchasing an existing franchise can be overwhelming – from the letter of intent to due diligence – having the right team is imperative.
When is the best time to close on the deal? What sales will transfer? What about recurring and subscription clients? Which liabilities transfer and which don’t? What about the lease agreement or real estate involved?
Our team helps entrepreneurs and business owners navigate through these important questions and more. Every opportunity is different, and we take a wholistic and cooperate approach to help you reach your business goals.
Next Steps
We proudly support the nation’s business owners. Peyton Law would like to encourage everyone to reach out:
- By phone at 484-801-0021
- By text at 484-801-0021
- By email at admin@peytonlaw.com
- Online for Scheduling at calendly.com/jpeyton
- On social media at LinkedIn or Facebook
- Click here to browse Peyton Law news and blog posts.
- Read some Testimonials here.
*Janelle Peyton is the CEO and Managing Partner of Peyton Law, a leading boutique law firm designed to provide the highest quality branding, business, and legal services to companies via quarterly subscription called Strategic Legal Solution. Peyton Law offers brand building strategies through corporate and intellectual property law, including business entity formation, buy+sell, contracts, joint ventures, trademarks, patents, licensing, and other growth-related transactions.