Top questions to ask an existing franchisee before you buy a franchise

Considering buying a franchise? Ask existing franchisee operators about the business before you become a franchisee. The last thing you want is to become another unhappy franchisee. 

It is important to do your due diligence before you sign the franchise agreement. Naturally, you will ask the franchisor questions about the franchise, but it’s equally important to converse with owners already in the business. Once you have made a commitment to explore the franchise opportunity (and are not just tire kicking) you should develop a plan to speak with existing franchisees.Read the rest

What are Common Area Maintenance (CAM) Charges in a Lease?

CAM charges are common in a triple net (NNN) lease. A NNN lease will pass through 1) taxes, 2) insurance and 3) common area maintenance charges to tenants. Common area maintenance charges represent those expenses the landlord incurs to maintain those portions of the property that (theoretically) all tenants enjoy.

What Is ‘CAM’ or Common Area Maintenance?

CAM charges represent the fee tenants pay to the landlord to compensate the landlord for its maintenance, repair, and operation of the non-exclusive areas of the premises.… Read the rest

What is Quiet Title Action In Michigan?

A quiet title action is a lawsuit started to settle a dispute as to ownership in real property. In Michigan, quiet title actions are authorized by law. The goal of the suit is to cure problems in the chain of title and to have a court determine the precise ownership of real estate. Sometimes a quiet title suit can be “friendly” against other parties and sometimes it can be quiet contentious depending on the situation.

Quiet title actions are common when a property owner wants to retain possession or ensure that title is marketable for future sale.… Read the rest