Entrepreneurs Kick Ass® | The Internicola Law Firm: Recent Episodes
Charles Internicola
Charles N. Internicola interviews E.J. McCoy, CEO and Co-Founder of Scoop Soldiers and Chorbie. We talk about growing a service based brand, why service businesses are technology-driven, and how E.J. and his team are changing the lives of franchisees. A great listen for prospective franchise buyers, franchisors, and franchise brokers!Learn More about the TPIG Tour and Pet Waste Millionaire: @petwastemillionaire Scoop Soldiers: @scoopsoldiers Chorbie: @ChorbieHome Want to learn how to franchise your business the right way? Contact us at https://www.franchiselawsolutions.com or call our team at (800) 976-4904.Subscribe to our Channel, join our Community, and reach out to our team at (800) 976-4904, fill out our contact form, or visit https://www.franchiselawsolutions.com for a genuine and honest franchise assessment.
What does private equity value when looking at franchise systems? In this video, Charles N. Internicola talks with Alicia Miller of Emergent Growth Advisors about what new and emerging franchisors can focus on today and over the next 24 months from now and it all starts with franchisee profitability.Big Money in Franchising: Scaling Your Enterprise in the Era of Private Equity: https://a.co/d/dsxToIaWant to learn how we can help your franchise get ready for private equity the right way? Contact us at https://www.franchiselawsolutions.com or call our team at (800) 976-4904.Subscribe to our Channel, join our Community, and reach out to our team at (800) 976-4904, fill out our contact form, or visit https://www.franchiselawsolutions.com for a genuine and honest franchise assessment.
A big mistake that's happening in the franchise development process is that franchise developers and lawyers are treating food trucks and mobile businesses as if they are brick and mortar retail businesses. This has an impact on so much more beyond the FDD itself and creates issues on operations, Item 19, and even the franchise sales process.In this video, Charles N. Internicola discusses franchise development mistakes when it comes to food trucks, food trailers, and mobile businesses. Want to learn how we can help you franchise your food truck, trailer, or mobile business? Contact us at https://www.franchiselawsolutions.com or call our team at (800) 976-4904.Subscribe to our Channel, join our Community, and reach out to our team at (800) 976-4904, fill out our contact form, or visit https://www.franchiselawsolutions.com for a genuine and honest franchise assessment.SUBSCRIBE to our Channel: / @entrepreneurskickass CONTACT US:https://www.franchiselawsolutions.com/JOIN Franchise Growth Mastermind Community: / 1464519290241259 LIKE us on Facebook: / entrepreneurskickass FOLLOW us on Instagram:/ entrepreneurskickass CLAIM your Free FranX Profile: https://www.franxlaunch.com
Branding, systems, and strategy - all necessary but meaningless without the right team and culture. David Gullotti on why your franchise growth strategy must revolve around an authentic and aligned team.
franchising #franchise #EOS
Subscribe to our Channel, join our Community, and reach out to our team at (800) 976-4904, fill out our contact form, or visit https://www.franchiselawsolutions.com for a genuine and honest franchise assessment.SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4MLk_xJi-uAfT2cqrtklxw?sub_confirmation=1CONTACT US:https://www.franchiselawsolutions.com/JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/1464519290241259LIKE us on Facebook: https://www.facebook.com/entrepreneurskickassFOLLOW us on Instagram: https://www.instagram.com/entrepreneurskickass/CLAIM your Free FranX Profile: https://www.franxlaunch.com🚀 Franchise Development Videos:What is Franchise Development and What are Franchise Development Companies?https://youtu.be/p7EVXaDstmo?si=EZ4mRzu8b7ONFXc9Franchise Development and Developer Nightmares!https://youtu.be/3nW20iVU84Y?si=Q-lMMqQpRaFgiMMBDon't Franchise Your Business Because a Franchise Developer Cold Called You!https://youtu.be/oJP8szGXS_Y?si=8_oruTGUM4Z2Jw4- __🚀 How to Franchise Your Business Videos : How to Franchise Your Business [7 Steps]https://youtu.be/MaOR1nbcTW4?si=EIyRcZuIrGltp3xhTiming and Steps to Successfully Franchise Your Businesshttps://youtu.be/weUq73hSSyg Franchising Your Business Should be a Step by Step Processhttps://youtu.be/fMOQpMVuy2EAre Your Sales Good Enough to Franchise Your Business?https://youtu.be/bIPHLUFB5nAHow to Franchise a Service Based Businesshttps://youtu.be/AjpD7uql7qg🚀 Franchise Sales, Marketing, and Development Videos: How to Build a Compelling Franchise Brand Story and Franchise Sales Websitehttps://youtu.be/AKZsrdqzQsY?si=1l5VfzFryLEkZU3sSelling Your First Franchise: How to Respond to Franchise Inquirieshttps://youtu.be/E_FEW-LFzqM?si=gg-aecBPAwJgARAkWhat Brokers Look for When Evaluating Franchisor Financials (Item 19)https://youtu.be/WpotopeaWvk?si=8VsL7xf_v9PVME_7How to Sell Franchises: Beginners Editionhttps://youtu.be/6zDDUMLawa8?si=9v2yi9FlbAsrAZDX
Part of our Franchise Development Nightmares series, Charles N. Internicola explains why there are no shortcuts to franchise sales.
More than just a fitness studio, the founders of Jane DO are creating a movement that is built on community, confidence, and empowerment for like-minded entrepreneurs.Learn more about the @JaneDODigital franchise opportunity: https://www.janedo.com/franchiseSubscribe to our Channel, join our Community, and reach out to our team at (800) 976-4904, fill out our contact form, or visit https://www.franchiselawsolutions.com for a genuine and honest franchise assessment.
Learn more about the @TheBrothersThatJustDoGutters franchise opportunity: https://www.brothersfranchise.com/Subscribe to our Channel, join our Community, and reach out to our team at (800) 976-4904, fill out our contact form, or visit https://www.franchiselawsolutions.com for a genuine and honest franchise assessment.SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4MLk_xJi-uAfT2cqrtklxw?sub_confirmation=1CONTACT US:https://www.franchiselawsolutions.com/JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/1464519290241259LIKE us on Facebook: https://www.facebook.com/entrepreneurskickassFOLLOW us on Instagram: https://www.instagram.com/entrepreneurskickass/CLAIM your Free FranX Profile: https://www.franxlaunch.com🚀 Franchise Development Videos:What is Franchise Development and What are Franchise Development Companies?https://youtu.be/p7EVXaDstmo?si=EZ4mRzu8b7ONFXc9Franchise Development and Developer Nightmares!https://youtu.be/3nW20iVU84Y?si=Q-lMMqQpRaFgiMMBDon't Franchise Your Business Because a Franchise Developer Cold Called You!https://youtu.be/oJP8szGXS_Y?si=8_oruTGUM4Z2Jw4- __🚀 How to Franchise Your Business Videos : How to Franchise Your Business [7 Steps]https://youtu.be/MaOR1nbcTW4?si=EIyRcZuIrGltp3xhTiming and Steps to Successfully Franchise Your Businesshttps://youtu.be/weUq73hSSyg Franchising Your Business Should be a Step by Step Processhttps://youtu.be/fMOQpMVuy2EAre Your Sales Good Enough to Franchise Your Business?https://youtu.be/bIPHLUFB5nAHow to Franchise a Service Based Businesshttps://youtu.be/AjpD7uql7qg🚀 Franchise Sales, Marketing, and Development Videos: How to Build a Compelling Franchise Brand Story and Franchise Sales Websitehttps://youtu.be/AKZsrdqzQsY?si=1l5VfzFryLEkZU3sSelling Your First Franchise: How to Respond to Franchise Inquirieshttps://youtu.be/E_FEW-LFzqM?si=gg-aecBPAwJgARAkWhat Brokers Look for When Evaluating Franchisor Financials (Item 19)https://youtu.be/WpotopeaWvk?si=8VsL7xf_v9PVME_7How to Sell Franchises: Beginners Editionhttps://youtu.be/6zDDUMLawa8?si=9v2yi9FlbAsrAZDX
Charles N. Internicola talks with Founder and CEO of Vanity Fur, Jean Arellano - a mobile pet grooming franchise - about how she started from working in hospitality, to feeling like there was just something more, and creating her own mobile pet grooming franchise.
A true story of entrepreneurship and resilience, Vanity Fur is now franchising across the United States to like-minded franchisee owners.
For more information about Vanity Fur franchise opportunities, visit: https://www.vanityfurs.com/franchising/ @VanityFurFranchising https://www.instagram.com/vanityfurs/
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Charles N. Internicola, Esq. interviews Laura Coe, co-founder of the Snapology franchise system about how she franchised her business and, eventually, sold it to private equity... and so much more!
snapology #franchising #franchiseyourbusiness
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Charles N. Internicola talks with Ty McBride, founder of Preservan @woodrotrepair about how he started his business that turned into a thriving franchise system and how like-minded entrepreneurs can build their future.
preservan #franchising #franchise
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Artificial Intelligence (AI) is a powerful combination of computing power, linguistics, science, and software that replicates and replaces human learning and intelligence. In this video, Charles N. Internicola takes a deep dive into AI systems like Chat GPT that will undeniably transform entrepreneurship, franchising, and business including how businesses are created, how businesses operate, competitive advantages, training, automation, and customer engagement. Join the conversation by posting your comments below!
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In this video Charles N. Internicola talks with Bob Burg, author of "The Go-Giver" and connected his "Five Laws of Stratospheric Success" to the world of franchising and how both established and aspiring franchisors and entrepreneurs can effectively utilize these principles.
Learn more about The-Go Giver by Bob Burg: https://thegogiver.com/
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Founders, C.J. and Lindsay McPhail, of Outsider Coffee talk about their story of entrepreneurship, their mission, how they franchised their business, and more with Charles N. Internicola of The Internicola Law Firm.
Learn more about Outsider Coffee: https://www.outsider.coffee and https://www.outsiderfranchise.coffee
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Rylan Miller, Multi-Unit Franchisee of Tropical Smoothie Cafe gives insights from a franchisee's perspective secrets to growing your franchise system.Subscribe to our Channel, Join our Community, and reach out to our team at (800) 974-4904, fill out our Contact Form, or visit https://www.franchiselawsolutions.com for a genuine and honest franchise assessment.SUBSCRIBE to our Channel: https://www.youtube.com/channel/UC4MLk_xJi-uAfT2cqrtklxw?sub_confirmation=1CONTACT US:https://www.franchiselawsolutions.com/JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/1464519290241259LIKE us on Facebook: https://www.facebook.com/entrepreneurskickassFOLLOW us on Instagram: https://www.instagram.com/entrepreneurskickass/CLAIM your Free FranX Profile: https://www.franxlaunch.com
In this episode, Charles N. Internicola explores the topic of buying a franchise versus owning an independent business. Many entrepreneurs face the decision of whether to start a business from scratch or invest in a franchise. While both options have their advantages and disadvantages, the question remains: is franchising less risky than owning an independent business?
Throughout the video, we'll provide valuable insights and do a live Google search and pull data about both franchising and independent business ownership.
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In this podcast, Charles Internicola discussed how to evaluate and understand the unit economics of a franchise investment. This podcast is for franchise buyers interested in finding and buying a franchise that is a good fit and for franchisors for building and telling a compelling economic story.
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As a franchisor, there's nothing more important that onboarding qualified franchisees that are a good fit and are going to grow your brand. Having a drilled-down franchise sales discovery process is crucial... Too many brands and emerging franchisors are missing out on opportunity because they haven't developed the right franchise sales closing processes, presentations, and discovery days. Lisa Welko, CFE of @IntegrityFranchiseGroup takes us through the process franchisors can take - from initial calls and presentations to discovery days and closing deals.
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- For franchisors that have maximized their brand’s U.S. market, international expansion can be a great way to continue scaling your business.
- With franchise-friendly laws and international agreements that make doing business relatively easy for American entrepreneurs, Canada can be a great place for franchising.
- Although Canadian franchise laws are similar to those in the U.S., there are important differences franchisors should consider before pushing into Canada.
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Thinking about franchising your business in 2023? Here's a recap of successful franchisors in 2022 and what to look out for in 2023.
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What are some warning signs franchisors should be aware of before onboarding franchisees. #franchisedevelopment #franchisor #franchisee
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What makes many new franchisors fail? What are some strategies to avoid failure? Charles N. Internicola, Esq. talks with Lisa Welko of @integrityfranchisegroup1341 in this video.
franchise #franchisor #franchisedevelopment #franchising #franchiselawyer #franchisebroker
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Franchisors trying to sell their first franchises feel desperate to make their first sales! Don't fall into the trap of offering too many incentives to sign on franchisees (reduce or waive franchise fee, delay royalties, etc.) Watch the video for more tips and warning signs.
franchise #franchisor #franchisedevelopment #franchising #franchiselawyer
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Charles N. Internicola, Esq. and Brian Lincer, Esq. of The Internicola Law Firm talk about exit strategies, private equity, and how to prepare to sell your franchise.
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Are your sales high enough to franchise your business? Will your franchisees be able to duplicate your financial performance? Charles N. Internicola goes into the popular topic if your sales are good enough before franchising.
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Jayesh Kasim, co-founder of Valenta sits down with Charles Internicola to discuss the success of his AI, Automation, and Technology Bots and how franchisors can use it in their franchise sales process.
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Charles N. Internicola and Jamie Sanchez of Interlink talk about:
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The differences between EB-5 Visas and E2 Visas
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Should you sell a franchise to an individual who enters the United States with an investment visa?
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Advantages and disadvantages of E2 visas and EB-5 visas
Contact Jaime Sanchez: https://www.interlinkfbc.com/en/home-2/
If you want to learn more about franchising or are looking for a community of supportive franchise industry professionals…
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How do you sell your first franchise? Franchise lawyer, Charles N. Internicola and franchise broker, Lisa Welko of Integrity Franchise Group take a deep dive in the steps of how to nurture and convert your first franchisee candidates.
If you want to learn more about franchising or are looking for a community of supportive franchise industry professionals…
READ MORE: https://www.franchiselawsolutions.com/learn/grow-your-franchise/how-to-respond-to-franchise-inquiries
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Charles N. Internicola, Esq. talks with Jania Bailey, President of FranNet about growing a genuine franchise system and how to build trust with franchise brokers.
If you want to learn more about franchising or are looking for a community of supportive franchise industry professionals…
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Charles N. Internicola talks to Liane Caruso from Entrepreneur Media about leveraging vendor relationships and the franchise community and more!
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Charles N. Internicola talks to Lisa Welko of Integrity Franchise Group about what franchise brokers are looking for when evaluating a franchisor's Financial Performance Representations (Item 19 in the Franchise Disclosure Document). If you want to learn more about franchising or are looking for a community of supportive franchise industry professionals…
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Have you gotten a cold call or unsolicited email from a franchise developer telling you to franchise your business? Did they tell you they were going to "cover A-Z" and "take care of everything for you" including legal, accounting, operations manual, development, and marketing? Watch this video before you franchise.
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As a new franchisor, it can be tempting to focus all of your efforts on marketing and sales when you’re just starting out – after all, those factors determine the future of your franchise. But is there more to consider when growing your business?
If you want to learn more about franchising or are looking for a community of supportive franchise industry professionals…
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When you franchise your business and become a franchisor, your FDD, in addition to forming the legal foundation, is also the blueprint of your franchise offering. There is critical data and information that you need to evaluate that is going to form the underpinnings of your franchise offering. In the end, your Franchise Disclosure Document (FDD) is what brokers and franchisee candidates evaluate including your competitive advantages and why someone today should buy your franchise over others.
If you want to learn more about franchising or are looking for a community of supportive franchise industry professionals…
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Franchising is a highly regulated and legally driven business relationship. Your FDD and the Franchise Agreements that your new franchisees will be signing form the legal foundation for the entire franchise system you are building.
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If you’re a business owner with a strong track record of success, there’s a good chance you’re considering growing and scaling your business through franchising. But as a new franchisor, how will you know if you’re doing it right? What are the milestones and indicators you should be aware of to make sure you're on the right track? And most importantly, what are the best strategies for making the transition from a successful business owner to a thriving franchisor?
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Are you franchising your business and want to learn more about developing an operations manual? If so, this video is for you! In this video, franchise lawyer Charles Internicola discusses the role of the Franchise Operations Manual in the franchising process. Providing an in-depth look at the topics every operations manual should include, Charles explains why it’s critical for franchisors to develop a solid operations manual and ensure consistent success across their entire franchise system.
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There are many advantages and disadvantages to franchising. In this video, Charles N. Internicola goes through both disadvantages and advantages from the franchisor perspective as well as from the franchisee's perspective.
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Franchise brokers play an important role in the franchising process, and the right broker can offer franchisors solid advantages. Learn more about working with franchise brokers as a franchisor.
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When prospective franchise buyers are evaluating franchises to own, one of the first things they're going to do is visit your franchise sales website. Charles Internicola goes into how to make a compelling franchise brand story and how to express it on your website.
Take a deep dive into your: 1. Purpose 2. Opportunity 3. Transformation
Check out our sample franchise sales wireframe and more here.
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If you're looking to buy a franchise, Charles N. Internicola goes into what's involved, the process, and how to know if you're doing it right. Also included in this video is information about:
- Researching franchise opportunities
- What to look for in the Franchise Disclosure Document (FDD)
- Franchisee validation
- Discovery Day
- Management team, support, and culture
- How to legally protect yourself
- Building a winning business
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It typically takes 90 - 120 days to franchise your business. But what are the steps involved? Charles N. Internicola goes through the legal, development, and accounting steps, timing involved, and what you need to know to win at franchising.
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There are three main revenue streams franchisors receive from their franchisees:
- Initial Franchise Fee
- Ongoing Royalty Fees
- Rebates
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If you're franchising your business and you come across a franchise consultant that claims they're a "one stop shop", here are major warning signs to look out for before you consider hiring them. Charles N. Internicola even goes through two consultant's proposals and breaks down why you should take caution if you're considering hiring them to franchise your business.
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For some franchise brands the legal process can be frustrating. You spend tons of money, time, planning, and effort to attract, recruit, and on-board new franchisees and along the way come legal obstacles. These obstacles come in different forms and varieties and what they all share in common is that they cost deals, add unnecessary frustration, and, so much more often than not, are avoidable. They're also a sign that you're not getting the legal support that you need and deserve.
Why does this happen? Well you may not be working with the right legal partner for your brand, and below, we list 3 reasons why your legal team may be costing you deals:
1:13 Your FDD Does Not Meet Best Practices
6:19 Your Registrations are Delayed and Your Sales Go Dark
8:46 Attorney Communication, Access, and Turnaround Takes too Long
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Factors to consider if it's the right time to franchise your business includes:
-
Your Track Record- How long has your business been open?
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Do you have systems in place?
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Do you have strong unit level economics?
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Have you differentiated your business from your competition?
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Industry- Are you well capitalized?
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Are you working with the right team?
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Are your financial numbers superior or at least consistent with industry benchmarks?
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Founder Goals- Do you want to want to expand the reach of your business through franchising?
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Do you want to transition from business operator to founder of a franchise organization?
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Are you ready to focus on a 5 year strategy?
If you want to learn more about franchising or are looking for a community of supportive franchise industry professionals…
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Everyone wants to know how much they can make when they buy a franchise. For franchisors who want to sell franchises, few things are more important than an Item 19 Financial Performance Representation in their FDD. What is an Item 19 Financial Performance Representation? It's any statement whether it's public, private, oral, or written about sales, income, or profits. This includes historical, actual, or projected financial data (including pro formas).
So what happens when a franchisee candidate asks, "How much can I make", "What are your sales", or "What are your profits"? THE RULE As a franchisor, you CANNOT provide financial performance representations UNLESS it's disclosed in your FDD Item 19 and it has to be representative of the franchised business.
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Your business is growing, cash flow is good, and you know there's opportunity for expansion. You may be thinking about franchising your business. You want to know if you're ready and what stage does your business need to be at to franchise? To be franchise ready you need to have the right numbers, founder mindset, and a scalable business. In this video we discuss each of these factors:
- The Numbers - The most common questions that franchisee candidates and franchise brokers ask is "how much do you make and how much can I make?" In the franchise world, this is called "Financial Performance Representations" and in order to speak about cash flow, it must be properly disclosed in your FDD. So, if you're profitable after accounting for lower sales and increased expenses that your franchisees will experience (including fees that will be paid to you as franchisor) your franchisees will be profitable and, potentially generate a good ROI on the investment they make in establishing a new franchised location.
- Founder / Team Mindset - The same passion that you put into developing and growing your business is the same passion that you need to put into franchising. Can you envision yourself learning franchising, building a franchise organization, attending franchise development conferences, and building, over time, a franchise organization?
- Scalability - Your business needs to be scalable. The systems, processes, and supply chain that you've built need to be capable of supporting franchisees and providing them with that extra edge that they'll need to succeed. This all doesn't need to be in place on day 1 but it needs to be there and, over time, needs to become a part of a system that you continuously improve for your franchisees.
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Franchising is a legal and business relationship where you take what has worked for your business (your brand, your systems, your know-how, your products and services) and legally authorize other individuals--your franchisees-- to open new locations using your brand name and requirements that you set.
The characteristics that create a franchise includes an agreement that involves:
- The license of a trademark.
- The payment of a fee
- Control over what can and cannot be done in the business.
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The difference between a franchise lawyer and a franchise consultant is that a franchise lawyer prepares the legal documents needed to franchise a business and sell franchises while a franchise consultant assists in operational tasks like planning a franchise sale strategy, budgeting, and operations manual development.
Franchise consultants are not franchise lawyers and franchise consultants are not qualified to prepare legal documents like the franchise disclosure document (FDD) and franchise agreement. Franchise consultants are sometimes also referred to as franchise developers.
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Charles N. Internicola and Nick Powills take a deep dive and talk about tactical steps franchisors can take in the short term and intermediate during the COVID-19 pandemic.
Charles N. Internicola and Nick Powills interview Justin Waltz from Big Blue Swim School and Philip Schram from Buffalo Wings and Rings to get their insights on how to overcome the COVID-19 pandemic.
Charles N. Internicola and Nick Powills talk about the framework for short term, intermediate, and long term recovery and growth for franchisors during the COVID-19 pandemic.
Learn the basics of franchising your business, what the role of a franchise consultant is, and what mistakes to avoid when franchising a business.
Charles N. Internicola interviews Joel Libava, The Franchise King®, about how franchisors can up their game, the journey of franchisees, qualities that good franchisors all share, and how to evaluate if a franchisee is the right fit for your franchise system.
Charles N. Internicola interviews Lisa Welko, founder of Integrity Franchise Group, about how emerging franchisors can start engaging with franchise brokers and consultants to sell your franchise.
Charles N. Internicola interviews Nick Powills, founder of No Limit Agency and 1851 Franchise, about how franchisors can use Public Relations to grow their franchise system.
Charles N. Internicola interviews Angela Cote, Franchise Growth Catalyst, about what it takes to be a successful franchisor.
Charles N. Internicola interviews Kit Vinson, founder of FranMan, and talks about how franchisors can create their custom Operations Manual, steps to take, and mistakes to avoid. This podcast is perfect for startup, emerging, and established franchisors.
Charles N. Internicola interviews Chad and Danielle Reyes, founders of Lion's Pride Leadership, about why leadership training is important for growing your franchise system, connecting the dots between leadership and franchise growth, and 9 steps you can take now!
Charles N. Internicola interviews Gary Occhiogrosso from Franchise Growth Solutions about what steps to take to onboard new franchisees into your franchise system.
Interview with Charles N. Internicola and Laura Meyer of Joybrand Creative talk about what it takes to position your brand for franchise sales success.