Burger King’s owner is sending cash and thermometers to its franchisees
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March 31, 2020
March 30, 2020
Really ???
Replying to
All day breakfast’s response to this news: “I’ll be back.”
7:21 PM · Mar 25, 2020Twitter for iPhone
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Attorney Carmen Caruso's Comment on Linkedin
Carmen D. Caruso
Trial & Appellate Lawyer
6 days ago
Be careful, Franchisees, before accepting temporary financial relief from your Franchisor during the national pandemic crisis. News that major franchisors are willing to grant rent and royalty relief to distressed franchisees is welcome, but no franchisee should be asked to sign a General Release that would absolve the franchisor of possible liability for other claims that might have arisen before the coronavirus struck. Any franchisee being asked to sign a General Release should always consult their attorney first. That golden advice applies now.
#franchisees # #franchisor #restaurants #IFA
#franchising
Trial & Appellate Lawyer
6 days ago
Be careful, Franchisees, before accepting temporary financial relief from your Franchisor during the national pandemic crisis. News that major franchisors are willing to grant rent and royalty relief to distressed franchisees is welcome, but no franchisee should be asked to sign a General Release that would absolve the franchisor of possible liability for other claims that might have arisen before the coronavirus struck. Any franchisee being asked to sign a General Release should always consult their attorney first. That golden advice applies now.
#franchisees # #franchisor #restaurants #IFA
#franchising
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March 28, 2020
March 27, 2020
March 26, 2020
March 24, 2020
Business Interruptus
Don't give up on your insurance coverage. There's still a lot of discussion about business
interruption. While we're not expressing an opinion, here are some arguments:
This article includes comments from attorney Robert Zarco -
Restaurants get no relief from business interruption insurance
This one really digs in on both sides -
Coverage may hinge on science - Law360
As Zarco says, don't rely on the declarations of your insurance companies or their attorneys.
I say, don't rely on the advice of your franchisor since they are often in bed with the "approved" insurance companies.
Fox News interviews two celebrity chefs -
Wolfgang Puck and Thomas Keller
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interruption. While we're not expressing an opinion, here are some arguments:
This article includes comments from attorney Robert Zarco -
Restaurants get no relief from business interruption insurance
This one really digs in on both sides -
Coverage may hinge on science - Law360
As Zarco says, don't rely on the declarations of your insurance companies or their attorneys.
I say, don't rely on the advice of your franchisor since they are often in bed with the "approved" insurance companies.
Fox News interviews two celebrity chefs -
Wolfgang Puck and Thomas Keller
.
March 22, 2020
File Under: Just My Opinion
The previous anonymous comment is terrific but I want to disagree on one point. Getting OPNAD and the Co-Ops to reduce fees by any percentage would take months of conflict
and negotiations. Time you just don't have.
Trying to advertise or discount your way out of this disaster is like shouting into the wind
to stop a hurricane.
These are voluntary advertising programs and go far beyond your franchise obligations. I'm not talking about banking your contributions to be spent later but stopping your voluntary contributions altogether, NOW.
Advertising and discounting in this environment is a complete waste of the cash you need
to survive.
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and negotiations. Time you just don't have.
Trying to advertise or discount your way out of this disaster is like shouting into the wind
to stop a hurricane.
These are voluntary advertising programs and go far beyond your franchise obligations. I'm not talking about banking your contributions to be spent later but stopping your voluntary contributions altogether, NOW.
Advertising and discounting in this environment is a complete waste of the cash you need
to survive.
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Anonymous - "Don't Pay Your Rent"
I am the Anonymous that laid out my plan what McD. should do. I still stand behind my recommendations, with one big exception. I have truly under estimated the sales effect of this Crisis, my new estimate is at least 45% down for the whole nation. From March 15th to ?????
It is time for each Owner to get serious about making cuts in Outside Services, Utilities and Postponing anything that takes cash out of your pocket. Everything we thought we needed is now a Luxury. If you have been around a long time you know what to do, if you have been around a short time call an old timer talk to them, let them coach you. McD. will not be of help, most have never had to do this.
A “Best Bet” once you get past the current Liquidity Issue, if you have interest paying Cashless Accounts let the Deferrals pileup there. At the very least it will pay for the annual cost of the accounts.
I am making a spread sheet on the things that are rolled back, I do not want to under estimate what I owe when that time comes for the BALLOON payments, by thinking the pile in my Accounts will be enough. You HAVE to KNOW.
Additionally, It is time for OpNad and CoOp to reduce our fees by at least 65%. We will need that money to put back in our towns when the time comes. We need it NOW to stay afloat.
I would love to hear other ”Best Bets” during this “Slash For Cash” time.
Good Luck to everyone. Stay Positive and Stay Safe.
.
It is time for each Owner to get serious about making cuts in Outside Services, Utilities and Postponing anything that takes cash out of your pocket. Everything we thought we needed is now a Luxury. If you have been around a long time you know what to do, if you have been around a short time call an old timer talk to them, let them coach you. McD. will not be of help, most have never had to do this.
A “Best Bet” once you get past the current Liquidity Issue, if you have interest paying Cashless Accounts let the Deferrals pileup there. At the very least it will pay for the annual cost of the accounts.
I am making a spread sheet on the things that are rolled back, I do not want to under estimate what I owe when that time comes for the BALLOON payments, by thinking the pile in my Accounts will be enough. You HAVE to KNOW.
Additionally, It is time for OpNad and CoOp to reduce our fees by at least 65%. We will need that money to put back in our towns when the time comes. We need it NOW to stay afloat.
I would love to hear other ”Best Bets” during this “Slash For Cash” time.
Good Luck to everyone. Stay Positive and Stay Safe.
.
March 21, 2020
Most Press Says MCD Giving Franchisees a $$$ Break
But the corporate press release says: "We are working with franchisees around the world in order to promote financial liquidity (e.g. rent deferrals) during this period of uncertainty."
news.mcdonalds.com/news-release-details/our-focus-supporting-franchisees-crew-and-communities
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news.mcdonalds.com/news-release-details/our-focus-supporting-franchisees-crew-and-communities
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March 20, 2020
March 19, 2020
Anonymous Has Left a New Comment on Our "Subway" Post
The deferrals will only stay the DEATH sentence for a little while. Because everything that we pay will go up after this is over. Like Bank Fees, Unemployment Insurance and all the things other companies will try to recover.
We are going to need a Rollback of the following fees to stay afloat; for at least 2 months make the following changes Cut Rent by Half, All Service Fees, OpNad by Half and CoOp by 30%. This will give the average Traditional store 40k to weather the storm. I have spent Millions on remodels and I am tapped out.
We are going to need a Rollback of the following fees to stay afloat; for at least 2 months make the following changes Cut Rent by Half, All Service Fees, OpNad by Half and CoOp by 30%. This will give the average Traditional store 40k to weather the storm. I have spent Millions on remodels and I am tapped out.
Now is the Time for McDonald’s to Show the Operators they care about our true Financial Health. They can suspend the Dividend for 1 Qtr and make this happen.
I am Projecting the USA will be Down 23% from March 15 to May 31, when all the smoke clears.Ok, NOA and NFLA time to earn your keep. I want to hear directly from you what you are doing. Time to stop working on STUFF that does not matter we are going to hurt real BAD. The sky is not Falling yet, but we need REAL help.
I am Projecting the USA will be Down 23% from March 15 to May 31, when all the smoke clears.Ok, NOA and NFLA time to earn your keep. I want to hear directly from you what you are doing. Time to stop working on STUFF that does not matter we are going to hurt real BAD. The sky is not Falling yet, but we need REAL help.
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