DESCRIPTION:
John Hayes, host of the Franchise Hot Seat, engages in a comprehensive discussion
with Schuyler "Rocky" Reidel, founder of the Reidel Law Firm, on various pressing
and contentious topics in the franchising industry. They emphasize the crucial role of
specialized legal advice in franchising, particularly during a government shutdown
that affects SBA loans. Rocky underscores the importance for franchisees to
comprehend their responsibilities and limitations within franchise agreements, and
the significance of thoroughly understanding the Franchise Disclosure Document
(FDD). The conversation also explores the issues arising from private equity
ownership in franchising and its potential effects on franchisees. A significant part of
the discussion is dedicated to Subway's market difficulties and the problems caused
by remodeling requirements. The dialogue concludes with a reflection on the
difficulties faced by McDonald's franchisees, the repercussions of unfavorable
franchising conditions in states like California, and the imperative of due diligence
for potential franchisees. - With Schuyler "Rocky" Reidel.
TIMESTAMPS:
00:00 Intro
00:37 Why is legal guidance crucial in franchising?
01:19 What is a franchise agreement?
02:26 How do SBA loans impact franchising?
06:08 Biggest franchising challenges and misconceptions?
19:23 What is the FDD's role?
28:26 How does FTC regulate franchising?
33:40 How is private equity changing franchising?
44:18 Why is Subway struggling?
52:52 Biggest challenges in food franchising?
LINKS:
WEBSITE: http://franchisehotseats.com/
LinkedIn: https://www.linkedin.com/in/drjohnhayes/
Twitter: https://twitter.com/drjohnhayes
YouTube: https://www.youtube.com/c/Howtobuyafranchise
Instagram: https://www.instagram.com/hayesjph/
TikTok: https://www.tiktok.com/@johnphayesfranchise
Pinterest: https://www.pinterest.com/DrJohnHayes/
Facebook: https://www.facebook.com/franchisehotseatpodcast
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