About Michael Liss: He is a Franchise Attorney, with FRANLAW – The Franchise Law Experts. Michael Liss has represented over a thousand franchisees, franchisors and other clients. He has served as in-house General Counsel for nationally known franchisors. He is a member of the State of Illinois Attorney General’s Franchise Advisory Board. Michael helps create new franchise systems, and he helps people buy franchises to start and succeed. He is a member of the American Bar Association Forum on Franchising, the International Franchise Association, the American Franchisee Association and the American Association of Franchisees & Dealers. Mr. Liss is a graduate of the University of Illinois and the Loyola University of Chicago School of Law.
In this episode, Carl White and Michael Liss discuss:
- Main benefits to franchising
- The main conflict on franchise relationships
- How to become a franchisor
- Giving your franchise a chance
Key Takeaways:
- The main benefits of franchising is better business management and better marketing. The practitioner will benefit more on the system and the branding that franchisors provide so that the medical professional can just focus on doing what they do best.
- Franchisors have their own system, their own way of doing business. They would want the franchisee to stick to that system at all times. The conflict begins when the franchisee starts to deviate from the system or do things differently.
- In order to become a franchisor, you need to have established your brand’s success. You need to have systems, a brand that’s trademarked, and you need to be making a lot of money. You would also need to adopt a trainer or coach personality, because that is essentially what you’ll be doing for your franchisees.
- When you buy a franchise, surrender to their system. You paid for it, might as well give it a chance to work. There are certain ways to do things efficiently and franchises have set up systems for a reason – because it worked for them.
“If you’re a little too independent, a little too “my way” it’s gonna be hard to implement somebody else’s system. You have to want that. You’re all in. There’s a system, there’s a way.” – Michael Liss
Connect with Michael Liss:
Website: http://www.FRANLAW.com
LinkedIn: https://www.linkedin.com/in/michaellissesq/
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Connect with Carl White:
Website: http://www.marketvisorygroup.com
Email: whitec@marketvisorygroup.com
Facebook: https://www.facebook.com/marketvisorygroup
YouTube: https://www.youtube.com/channel/UCD9BLCu_i2ezBj1ktUHVmig