Be in business for yourself, but not by yourself.
Becoming a franchisee is one way to do that. By using the franchisor’s brand and business system, you position yourself to get into business without starting from scratch.
Franchising is a unique – and wonderful! - business model for many entrepreneurs. It may seem simple, but any franchise transaction is a big deal. With most franchise agreements being 10-year commitments (excluding long-term commercial leases), a solid chunk of your money and time is at stake. You want to enter into any franchise deal with your eyes open and under terms that will position you to succeed.
Let me walk you through it…
Every opportunity is different.
Whether you’re new to franchising or are a seasoned franchisee, each franchisor and franchise opportunity must be thoroughly evaluated on their own. A competent business lawyer can help you with all this.
Will this franchisor require me to run the business actively or can I be a passive owner?
Is the training and system they are offering worth the tens of thousands of dollars they’re asking for in a franchise fee?
Should I be concerned about the number of lawsuits against this franchisor?
We offer a range of services for new and existing franchisees. Our most popular service offering is our flat rate FDD (Franchise Disclosure Document) and Franchise Agreement Review.
Why would you need to have your FDD and Franchise Agreement documents reviewed?
The franchise transaction is a long-term commitment (usually a minimum of 10 or 20 years)
The FDD is a very large document that most business owners don’t take the time to read (usually a minimum of 125 pages)
The franchise agreement can be negotiated in some instances
The FDD can contain confusing provisions
You need to be aware of potential red flags and unusual terms in the franchise agreement
We can help you:
Review and negotiate your franchise agreement
Review and negotiate a franchise development agreement
Evaluate the benefits and drawbacks of a franchise brand you are considering
Review and negotiation franchise consultant agreements
Have peace of mind throughout the process
Franchising is a great business model – for those who understand how it works and are a good fit for it. It can be lucrative to buy a franchise and a great way for someone to get into business using a proven system.