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
Not signing anything...…..
no way to get any economic relief from them without signing it, otherwise you might not even have another day to fight they got the money and the power.
Deferment is not "economic relief", it's just more debt.
Add up what they are giving, and if you dont have those few thousands stockpiled for an emergency, best the restaurant sell anyways.
Understanding, the average restaurant would come ahead simply dropping the $1 drink, pricing $1.39, $1.69, and $1.99 - even though competitors are still way higher. A liquidity fact they work hard to prevent operators from learning.
" Understanding, the average restaurant would come ahead simply dropping the $1 drink, pricing $1.39, $1.69, and $1.99 - even though competitors are still way higher. A liquidity fact they work hard to prevent operators from learning."
Why are still selling $1 drinks and $2 latte? Almost everybody else is CLOSED!
If we can't get normal pricing now, we should just close.
“We should just close” really? Drama much? I prefer to be open. I’m down 20% I’ll take it!!
^^^ What he said. Closing is Losing, Losing is Closing.
It appears there are a few McDonald's Owner/Operators who think that closing stores as a stunt is a good way to embarrass McDonald's Corp. It's not. It's a sure way to get your franchise terminated.
Read your franchise agreements.
I also prefer to be open, and selling items like drinks at a price that matches the very competitors that open. Or we can just fork profits over to them. Their drive thru lines are as long as mine are, but they get more profit out of each car.
Why? What is the reason that I am forced into $1 drinks and $2 lattes???!!! I know that corporate doesn't care if I make any money, just the that they do.
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