Buying a Franchise
Many people who decide to buy a franchise do so with less actual “shopping around” than they would if they were buying a car or a television set. Buying a franchise, however, may be the biggest investment many people ever make.
We offer a $1,500 flat-fee review of the Franchise Disclosure Document and Franchise Agreement, in addition to providing up to 1-hour of a lawyer’s time for consultation of negotiation with the franchisor. The turnaround time for this service is typically less than one week. What’s included in the review?
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What You Need to Know
The firm works with clients throughout the country to ask and answer critical questions before buying a franchise, including:
- Is the franchisor in good health?
- Has the franchisor had experience in your part of the country?
- Is the business subject to special regulation?
- Are the trademarks good?
- Is their history of litigation particularly bad or does it tell a particular story?
- How confident are you that you are cut out for this business?
- Have you talked to existing franchisees?
- Do you understand the franchisor’s obligation to provide training and support?
What to Expect When You Talk to a Franchise Lawyer
What's Included in the Review?
- An overview of the key points of the two documents, including favorable and unfavorable legal aspects; points that you should consider asking the franchisor to negotiate, keeping in mind that most franchise agreements are not negotiable, but some points are; and our knowledge, if any, of the franchisor and its principals.
- Our recommendation as to whether the franchise is:
- Green light: We see no serious reasons why you should not go forward with the purchase of this franchise.
- Yellow light: Proceed with caution; if you can overcome certain obstacles by obtaining additional information, negotiating certain provisions, or deciding that you are willing to take identified risks, then you should consider proceeding.
- Red light: There are serious questions about this franchise, and we recommend that you not proceed.
- A section-by-section analysis of the important provisions of the FDD and the franchise agreement, with emphasis on the points that you should understand before proceeding.
- Answers to any questions that you may wish to pose prior to our preparing the report.
Make the Best Business Investment
If you are interested in learning more about how to start a franchise, or how to become a franchisee, it’s critical to talk with an experienced attorney first. Learn more about the counsel Garner & Ginsburg, P.A., offers by scheduling a free consultation. The firm can be reached through the online contact form above or by calling 612-259-4800.