Charles is a national business and franchise lawyer and, like you, he is also a business owner and entrepreneur. This newsletter is all about business, entrepreneurship and maintaining a dialogue with our clients and friends where, collectively, we share a mindset of success and learn from one another. We are always glad to hear from you and look forward to your input.The Internicola Law Firm, PC is a national business and franchise law firm that assists business owners with legal issues involving business expansion and protection.

The Business and Franchise Law Report is a publication of the Charles N. Internicola Law Firm, P.C., and is intended to educate the general public about business law issues. It is not intended to be legal advice. The information in this newsletter may be freely copied and distributed as long as the newsletter is copied in its entirety.

ABOUT CHARLES N. INTERNICOLA, ESQ.

email cni@BusinessandFranchiseLaw.com | web www.BusinessandFranchiseLaw.com | tel 800.976.4904

SHARING A MINDSET OF SUCCESS

—continued on page 3

BUSINESS SPOTLIGHT

Our clients are successful business owners and

entrepreneurs and over the years I can tell you that I

have learned a lot from them - observing their work

ethic, tolerance for risk and the innovative ways that

they approach problems. On the franchisee front we

had the privilege of representing Jennifer Schanker

who just a few months ago signed a Learning Express

Toys franchise agreement and this recently had

her grand opening. True to form, throughout the

franchise evaluation process, her SBA funding and

eventually her grand opening, Jennifer displayed

characteristics that I have seen in many of our other

clients. The characteristic that I am talking about is one

of confidence - not blind confidence, but confidence

-- and an understanding that success requires action

volume 3 | issue 1

and whether or not mistakes are made along the way -- action is always better than inaction.

At the grand opening of Jennifer’s Learning Express franchise she was kind enough to invite our team members (who

are big fans of Jennifer) and Jennifer’s story is quite impressive and certainly a must watch for those out there that are

considering an entrepreneurial leap from corporate America to a franchise or even your own independent business.

Jennifer Schanker and members of the Chamber of Commerce at The Learning Express Toys of Holmdel Grand Opening

2 The Business and Franchise Law Report | Volume 3 Issue 1

NEWS

HOW TO KNOW IF YOU ARE READY TO FRANCHISE

You may have heard the question a dozen times or more: “When are you going to franchise?” or “When is the next store opening – and where?” Your friends, customers and family bring it up in conversation on a fairly consistent basis. Your business is doing well and folks around you only see it continuing to grow – but do you? Where do you see your business in a year? Five years?

The Intuit QuickBooks Small Business Center interview, featuring Charles Internicola, provides some of the broad strokes to consider before deciding to franchise your business. Utilizing the 90 Day Franchise Launch Program, Charles explores the various options you may have as an expanding business and how to turn your franchise dream into a reality.

Some of the key points that were discussed include the following:

Can every type of company be franchised or are there certain business models better than others?

Within the franchising industry there are many business segments — retail, wholesale, and service based businesses — that have achieved franchise success. When evaluating whether or not a business can be franchised, the analysis should be focused on the individual business as opposed to the overall industry.

How long should a business exist before its owner begins to think about franchising?

It’s all about successful operations. Just because a business has been around a long time doesn’t mean that it’s a successful candidate for franchising. Typically a business must have a proven record of success — usually no less than two years — and have systems that can be taught to franchisees.

What are some “readiness” indicators that signal it might be the right time to franchise?

Readiness indicators typically include:

You are constantly asked by customers, friends, and even family if your business is a franchise or if they could open up their own.

Your business is successful and your product or service is well received and profitable, and your brand is recognized in your marketplace.

You may already have multiple locations, or, if you don’t, you know there is much more room for growth and you are looking for the managerial talent and possibly capital for opening new locations.

What types of startup fees and expenses can a franchisor expect?

To properly develop and launch a franchise system, much will depend on the franchise development team and the business owner’s level of involvement in the development process. Fees for

the development process will include legal fees, accounting fees, and development fees related to preparation of an operations manual. After the development process, there are costs associated with operating a franchise system.

A lot depends on franchisors’ underlying goals and their plans for expansion. For instance, is the startup franchisor looking to lay out the framework for a franchise system and slowly develop franchise sales (a slow and steady approach) or is the startup franchisor working with an extremely hot brand and looking for rapid year 1 and year

2 franchise sales growth (an accelerated approach)?

The costs depend on the goals and plan of action. Typically the franchise development process cost ranges anywhere from $30,000 to $70,000.

Read the entire interview at: http://bit.ly/InternicolaQuickbooks

Franchise Your Business in 2015Ask us about our 90 Day Franchise Launch

Program and take your business from local

success to national franchise this year!

Call (718) 979-8688 or visit

www.90DayFranchiseLaunchProgram.com

CHARLES INTERNICOLA RECENTLY INTERVIEWED BY INTUIT QUICKBOOKS

3www.BusinessandFranchiseLaw.com

SHARING A MINDSET OF SUCCESS

One statement that Jennifer made has stuck with me

and sort of a universal truth or principal that successful

entrepreneurs understand.

So what is this universal entrepreneurial principal or characteristic?

Well, it is an understanding that nothing is certain, that when

it comes to taking action (a critical element for success) you

need to take fear and risk and put them in their proper place

and perspective. Certainly, risk needs to be controlled and

calculated but consider the mindset that Jennifer shares with

us when she describes the loss she suffered and overcame

when losing her home to Superstorm Sandy and how

she turned this into a positive and led her to this amazing

entrepreneurial insight:

“...for most [potential] business owners the fear of going

into business and losing everything holds them back from

becoming a business owner... so when you go through

something like Hurricane Sandy you lose everything there

is nothing else you can lose and once I got over the fear of

losing something I started to research businesses geared

toward children...”

An amazing insight. Consider that perceived fear holds back

so much opportunity. By the way, if you listen to the entire

video and what Jennifer has to say, setting aside her fear did

not mean blindly signing a franchise agreement or blindly

following the advice of her lawyer. Jennifer did a ton of

research and she has some great advice about the franchise

purchasing process and her insights as to the franchise

relationship, including the benefits of working with a good

franchise system.

If you are considering the purchase of a franchise or to take

a step similar to Jennifer’s, spend some time and listen to

what she has to say in her interview by visiting our YouTube

Channel:

https://www.youtube.com/user/InternicolaLawFirm/

I can assure you that you won’t be disappointed.

Good Luck to Jennifer and Learning Express!

We are privileged to have represented Jennifer and wish

her the best with her new business - our team is rooting for

her! By the way if you are in the Holmdel, New Jersey area

Jennifer’s Learning Express store is located at 2107 Route 35,

Holmdel, NJ 07733.

Find Out More About How You Can Buy a Franchise

Call Samantha Surowiec at (718) 979-8688 or email:

ss@businessandfranchiselaw.com to find out how we can

assist you in buying a franchise or expanding and protecting

your business.

—continued from page 1

“Find something that you’re passionate about. Make it happen. Don’t let your fears hold you back.”- Jennifer Schanker, Learning Express Toys of Holmdel Franchisee

4

IN THIS ISSUE

1000 South Avenue | Suite 104Staten Island, NY 10314

1.800.976.4904www.BusinessandFranchiseLaw.com

BUSINESS SPOTLIGHT Jennifer Schanker Shares a Mindset of Success PAGE 1

SPECIAL PROGRAMS The 90 Day Franchise Launch Program PAGE 2

NEWSCharles Internicola Interviewed by Intuit Quickbooks PAGE 2

SCHOLARSHIP Learn about The Franchisee University Young Entrepreneur Scholarship for HS Seniors PAGE 4

“ —Tony HsiehStop chasing the money and start chasing the passion.”

CONNECT WITH US!

QUOTE OF THE MONTH

SCHOLARSHIP

FRANCHISEE UNIVERSITY AWARDING A HIGH SCHOOL SENIOR THE “YOUNG ENTREPRENEUR SCHOLARSHIP”

As part of our free “Franchisee University” resource for prospective franchise buyers, The

Internicola Law Firm is awarding a Staten Island high school senior a scholarship. Since entrepreneurship

is not about conformity and since it is never late to choose a new path, there are no GPA requirements for those who wish to

participate. However, students must plan on attending college upon graduation or plan on establishing their own business.

Students must also understand that this is a serious competition and the reward - that spark of entrepreneurship that may lead to many future successes and setbacks - outweighs the $500 scholarship being offered. Those that

apply will recieve a free copy of “Success For Teens” and use the principles learned for their essay. Bonus points to students that

go the extra mile!

Visit: www.franchiselawsolutions.com and click on “Young Entrepreneur Scholarship” for full details or email Melissa at:

mb@businessandfranchiselaw.com