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Restructuring Your Business For The Future with KC Cohen

KC Cohen is a 35-year veteran of the corporate restructuring practice which includes workouts, turnarounds, structured liquidations, sponsor guarantee defense, receiverships and chapter 11 cases, primarily representing debtors. He has a strong dedication to the integration of technology in the practice as a solo attorney who has operated for over a quarter century without staff.

Key Takeaways:

[0:18] Today’s episode of Franchise Euphoria is brought to you by IndyFranchiseLaw.com, a leading resource in the franchise space. Head over to IndyFranchiseLaw.com learn more!

[0:59] Josh introduces today’s guest, KC Cohen, an Indiana-based bankruptcy attorney.

[1:55] Josh welcomes KC to Franchise Euphoria.

[2:55] KC shares about his background and what led him to specializing in bankruptcies and restructuring businesses.

[6:47] In KC’s opinion, the first thing you need to consider as a business right now, is whether your business is part of the future or the past.

[8:12] Josh and KC consider what the future of offices look like now that so many businesses have figured out how to run their businesses remotely.

[11:42] Going forward, businesses will need to adapt to what the future looks like in order to flourish.

[13:43] KC provides an allegory about the dependency businesses have on each other.

[14:55] KC sees the situation with coronavirus as an opportunity for debtors and creditors to collaborate.

[17:30] In this unique situation, KC believes that debtors shouldn’t hesitate to call their creditors to discuss their situation because they will be flexible at this time.

[20:23] Josh and KC weigh the pros and cons of abatement vs. deferment.

[23:35] When you begin talking about bankruptcy, the first thing to do is make sure your own house is in order.

[28:15] Under Chapter 11, debtors can take advantage of a secured creditor not being established correctly, which happens more often than you would think.

[33:29] In KC’s opinion, you don’t want to file bankruptcy if you can avoid it and you don’t file the day your business closes.

[34:40] It is never too early to talk to a bankruptcy attorney about your situation, and KC recommends doing it before your situation goes from bad to worse.

[35:22] If you want to get in touch with about KC, visit www.smallbusinesseleven.com.

[36:58] Thanks for listening, and please, reach out to Josh anytime through email at josh@franchiseeuphoria.com. If you enjoyed this interview, please leave us a review on iTunes.

Mentioned in This Episode:

josh@franchiseeuphoria.com

www.franchiseeuphoria.com

www.indyfranchiselaw.com

www.smallbusinesseleven.com

Josh Brown

Josh Brown

Hi! I’m Josh Brown, franchise attorney and creator of the Franchise Euphoria podcast. I’m just your average guy who loves to golf, eat hibachi, and immerse myself in the ever-expanding franchise world.

My goal is to navigate entrepreneurs and all people interested in the current events of franchises through all the hottest topics and most popular tools for success. Going on four years now, Franchise Euphoria is hotter than ever and ready to help you plan and execute a pathway to success.

Josh Brown

Josh Brown

Hi! I’m Josh Brown, franchise attorney and creator of the Franchise Euphoria podcast. I’m just your average guy who loves to golf, eat hibachi, and immerse myself in the ever-expanding franchise world.

My goal is to navigate entrepreneurs and all people interested in the current events of franchises through all the hottest topics and most popular tools for success. Going on four years now, Franchise Euphoria is hotter than ever and ready to help you plan and execute a pathway to success.

pardee2003 from United States
11/16/2019
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Great and applicable information from professionals in the franchise world that are doing it every day. I’ve listened to 3 episodes: Gutter Brothers, Woofies, and Cycle Bar. Enjoyed all and looking forward to hearing more.
WTutor311 from United States
8/30/2019
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Highly recommend. Great guests. Filled with tons of helpful information.
Katie Joy B. from United States
7/16/2019
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Josh and his wide variety of knowledgeable guests are truly rockstars! They deliver quality (and free!) franchise knowledge and advice in each and every episode. The great advice they provide, combined with the engaging way they deliver it had me hooked from the very first listen. Thanks for putting out such a stellar show Josh - keep up the great work!
Jordan gross from United States
07/15/2019
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This podcast provides the advice necessary to start building, growing, and scaling your business TODAY! The host asks probing questions of his guests that add value to the listeners in an immediately implementable way!
VPugliese from United States
07/15/2019
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What do you get when you combine business savvy, legal expertice and a great personality? You get the ultimate podcast for franchise owners. Josh Brown brings it all togehter perfectly with Franchise Euphoria. Not only does he possess all of the skills and abiliites above, but he has great guests, asks awesome questions and created the ideal podcast for this niche. If you have a franchise, or are considering it, subscibe to this show and consume all of the content!
Mick James from United States
06/05/2019
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Started listening to Josh's podcast after the wife and I decided to buy a franchise and I quickly went through about 200 episodes on 1.5x & 2x, before signing on to purchase a franchise. Josh's info was an invaluable part of our decision to buy, and after listening to so many episodes, I felt like I knew and trusted him on a personal level, so it was a no-brainer to enlist his services when it came time to review the franchise agreement. Josh was super easy to talk to and very empathetic to our needs, and being first time business owners, we needed all the empathy we could get. Josh helped us negotiate a great deal with the franchisor and we were very happy with his services. Great podcast, great guy, great service to anyone involved in the franchise world!
Dean575 from United States
06/04/2019
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Very interesting discussion. I found the information valuable.
Summieysum from United States
05/06/2019
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I've just completed the legal process of franchising my business and have now begun selling franchises. Just found this podcast and it's an incredible resource! Great content and Josh is a very engaging host. Highly recommend for franchisors and franchisees.
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