Hard-won lessons from an operator on the buyer side. Due diligence guides, financial analysis frameworks, and the advice I wish someone had given me before I invested.
We read the 2025 Franchise Disclosure Documents for McDonald's, Subway, Dunkin', Chick-fil-A, Culver's, Planet Fitness, Anytime Fitness, Orangetheory, Great Clips, and Servpro. Here is what we found in each.
Read articleMost franchise buyers calculate royalties wrong. A 6% royalty plus 2% marketing fee on $500K annual revenue costs $267,000 over 10 years.
Read articleMost franchise buyers confuse validation calls with discovery days, missing the unscripted conversations that reveal actual profitability and operational reality.
Read articleMost territory maps in franchise agreements contain hidden overlap risks that can destroy your investment. Here is how to spot them in FDD Item 12.
Read articleItem 7's initial investment range misses critical costs that surface after signing. Technology fees, supplier markups, and marketing requirements routinely add 30-60% more.
Read articleA bill in Congress would let franchisees sue for FTC Franchise Rule violations. What it means for buyers and why due diligence matters more than legislation.
Read articleThe record Xponential Fitness settlement reveals exactly what franchise disclosure violations look like. What every buyer should learn from this case.
Read articleThe FTC is cracking down on franchise fees that appear after signing. How undisclosed technology fees, vendor mandates, and operations manual changes cost franchisees thousands.
Read articleRoughly 66 to 87 percent of franchisors now provide Item 19 data depending on the source and sample. When they do, the numbers are often selectively presented. Here is how to read past the framing.
Read articleAn honest analysis of franchise economics, success rates, and the questions you need to answer before you invest. The math is often worse than the brochure suggests.
Read articleTechnology fees, brand fund contributions, mandatory vendor markups, transfer fees. The ongoing costs most buyers never add up until it is too late to walk away.
Read articleItem-by-item breakdown of what an FDD actually discloses, what it hides, and how to extract the information that determines whether the deal makes financial sense.
Read articleThese are the specific warning signs I missed in my own franchise disclosure document, and how to spot them in yours before you sign.
Read articleRoyalties, ad fund contributions, technology fees, required vendor markups. How ongoing franchise costs quietly destroy your profit margin.
Read articleThe validation call is your single most powerful due diligence tool. Here are the questions that reveal what the FDD can't.
Read article