Ron Feldman
speaker
3,922 appearances
11 recordings
1 series
first heard Jun 2010
last heard Dec 2020
Ron Feldman’s voice in public audio — every appearance, attributed to the second.
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Appearances
The great lawyers out there, the Lane Fishers of the world, they're going to say you're not ready yet.
You need another year.
And you don't know how much money they're saving you by doing that.
And you really have to do more.
Go ahead, Paul.
Well, if you're a great franchisor, you have a bank credit report, and they're looking at that in lieu of the FDD.
They have to have the FDD.
But a lender who understands franchising, and there's a difference between lenders that understand franchising or program lenders or transactional lenders where they're just looking at a transaction and may not be looking at the brand.
But the logical places they're going to look, if you look in the table of contents, is they're always going to look at the litigation.
They're always going to look at the resumes of management, and then they're going to skip all the other stuff for the most part.
They're not going to care about territory, and they're not going to care about all that others.
They're going to look at item 19, they're going to look at item 20, and they're going to look at the franchisor's financial statements.
Those are the things that a typical non-franchise program lender is going to look at in an FDD if that's all they have to look at.
And if your item 20 says,
that 10% of your units have ceased operations due to operations, they're just going to throw the application away.
But if eight of those ten didn't open because the person couldn't get financing during the recession and you really only had two, it tells a different story.
So you really have to manage your disclosure within the law, and that's why you need great lawyers.
If you're FPR, I just read an FPR where it says it was only a gross sales item 19, and it said sales range from $300,000 to $1.8 million for a brand.
Well, that doesn't tell me
It's better to not have one.
Showing 1861–1880 of 3,922 · page 94 of 197
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