Franchising Trends

Yes, You Likely Need a Franchise Attorney

Your franchise attorney will be your best friend when you go out to buy a franchise. If you think that your regular attorney or any attorney you pick up from the Yellow Book will do, you can’t be more wrong. A franchise attorney is a specialist in decoding and simplifying franchise-related agreements.

You don’t go to heart specialists, if you have problem with your lungs; do you? Similarly, you should always opt for a franchise attorney when you are starting a franchise business. He can save you from franchise opportunities that are not that sound. The main job of the franchise attorney is to read the franchise agreement for you. But, if you want, you can also take the UFOC to the franchise attorney and let him look into the legal history of the company offering franchise business for sale.

He can pick up loopholes in the legal documents, which you, as a layman, may fail to notice. If he warns you about the legal history of the franchisor, then you must skip this franchise concept and move to the next one. When you finally find a franchise business for sale that is perfect for you, you will be asked to sign the franchise agreement. The moment you get the agreement, take it to your attorney (you will be certainly given some time to review the franchise agreement). Another thing that you are required to do is ask the franchisor whether there’s any chance of negotiating with any provision of the franchise agreement. Top franchises usually don’t allow a single word to be changed, but upcoming franchises may offer you some liberty. If it’s the former case, your attorney doesn’t have much to do. He can just go through the franchise agreement and explain it to you, warning you of potential problems.

But in the latter case, the real need of franchise attorney will be felt. Franchise agreements are notorious for being leaning towards the franchisors; (they after all have drafted it) and if you get a scope to add your points, make sure you utilize it. A seasoned franchise attorney will prepare a franchise agreement where your interests will be safeguarded. So, it’s very important that you hire an experienced franchise attorney. For finding one, you can take the help of existing franchisees you talked to during the due diligence process. Ask them to refer to their attorneys. Moreover, if you have gone for franchise counseling with franchise consultant websites like brandEXPANSION, you will find a panel of highly proficient franchise attorneys from them. But always keep in mind that the best attorneys will charge high fees; so, go for them only if you have to draft a franchise agreement. Any competent franchise attorney will be enough to read through a franchise agreement for you, before you sign on the dotted lines.

brandEXPANSION can link you with the top franchise attorneys. Contact us for more information.