What If Your Franchisor Goes Under?

Posted by marciabiz under Franchises
From http://smallbiztrends.com 364 days ago
Made Hot by: Small Business Manifesto on May 26, 2012 9:03 pm

This interview with franchise attorney Rush Nigut explains some steps to take in the event the franchisor who sold you a franchise, goes under. What should you do in those circumstances? The first thing is, do NOT take a "wait and see" approach. It’s crucial for franchisees to be proactive, and they need to try to be aggressive in enforcing their rights. It may even be beneficial for franchisees to band together. Waiting to see if the franchisor will make it is probably not good business, in most cases. The FranchiseKing, Joel Libava, conducts this interview.

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Comments

Written by HeatherStone
362 days ago

This is an eventuality most people probably don't think about when buying a franchise but definitely should. Just like a business you start from scratch, a franchiser can certainly go under. Hopefully you've minimized the odds of this happening by really doing your homework and picking a good franchise going in, but, of course, even if you have there are no guarantees.

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