Buying a Franchise
For entrepreneurs thinking about buying a franchise, consider the following fixed fee services provided with our On-Demand™ packages include:
- One-hour consultation with our franchising attorney to discuss the opportunity, your goals and expectations of the franchisor-franchisee relationship, and your due diligence regarding the franchise;
- Review of the franchisor’s Franchise Disclosure Document, the proposed franchise agreement, and other associated contracts;
- Provide advice regarding additional questions to ask the franchisor and other franchisees in the company,
- Identiﬁcation of risk factors and negotiation points to beneﬁt the potential franchisee.
On-Demand™ Help with the FDD
All franchisors are required by the Federal Trade Commission to provide prospective franchisees with a Franchise Disclosure Document (FDD). This lengthy and detailed document is a disclosure statement which contains the particulars of the franchise and the terms and conditions for you to become one of their franchisees.
Our services will help you review and interpret the FDD as well as:
- understand the document in its entirety
- spot red flags and terms which may be problematic later in the relationship
- formulate questions and better understand the franchise opportunity
On-Demand™ Help with the Franchise Agreement
The franchise agreement is the actual contract between you and your franchisor. This agreement is the document which formally describes all of the parties’ rights and obligations.
An experienced franchise attorney can help you to do three things: understand the franchise agreement, compare the terms to other franchise agreements, and negotiate better terms.
Understanding the Franchise Agreement
Franchise agreements tend to be very lengthy legal documents, containing complicated terms and provisions. You need to understand the deal you are signing. An experienced franchise attorney can help you understand various terms and their significance, such as:
- Transfer Restrictions/Conditions
- Arbitration & Dispute Resolution
- Audit Rights & Expenses
- Rights to Intellectual Property
- Supervision & Time Devotion
- Rights & Remedies Regarding Default
- Comparison of terms with other franchise agreements
Additionally, our experienced On-Demand™ attorneys can help you negotiate important terms, like:
- Territorial Protection
- Transfer of Ownership
- Audit Expenses