So, you’ve decided to take the plunge and become a franchisee. Entering a franchise arrangement is a great way to start a tried and true business with less risk. Franchisees can start up quickly with a successful business system and gain immediate access to tools and infrastructure. However, entering into a franchise agreement is a major decision that poses many legal implications.
If you’re thinking about entering into a franchise agreement, seek the advice of a franchise attorney prior to signing on the dotted line. A franchise attorney will carefully scrutinize your franchise agreement and ensure that you fully understand all of the terms upfront. An attorney specializing in franchise agreements could answer all of your questions and provide you with assistance from start to finish.
Having an attorney review your franchise agreement before you sign it is a good idea because let’s face it – franchise agreements are hard to read since they’re mostly written in legalese. A franchise attorney knows what to focus on and can inform you regarding your obligations to the franchisor. An attorney can also spot any pitfalls before you enter into a franchise agreement.
Most franchise agreements are non-negotiable. If you can negotiate, however, you should hire an experienced franchise attorney to help you obtain the best deal possible. Your ability to negotiate changes to a franchise agreement will depend on what you bring to the table, the franchise system’s maturity, and what kinds of changes you’re asking for. Generally speaking, you cannot expect a large, established franchisor to make many changes to an agreement, unless you are negotiating rights to open multiple locations. If a franchise agreement is non-negotiable, then having an attorney review it may not be worth the cost. Ultimately, your decision of whether or not to sign a non-negotiable agreement will boil down to how much you really want the franchise.
If you’ve already signed a franchise agreement and want to get out of it, a franchise attorney can help you cut your losses. When you decide to walk away from a franchise agreement, hiring an attorney is a must. An experienced franchise attorney can help you get out of a franchise agreement at the right time and in the right manner.
Entering into a franchise agreement is a major commitment, so it is imperative that you hire an attorney who specializes in franchise law. At Jones Law Group, we have extensive experience in franchise agreement assistance and keep up with the latest developments in franchise law. We’ll carefully review your franchise agreement and interpret the fine print that the franchisor may not want you to see.
Entering into a franchise agreement is not a decision to take lightly. The seasoned franchise attorneys at Jones Law Group have helped numerous clients with the lengthy and complex documentation required to become a franchisee. Call (614) 545-9998 or contact us online to schedule a free initial consultation with our team.
JLG Attorney Rob Flaugher to Speak at Litigation Seminar on 7/31/15
Jones Law Group Attorney Rob Flaugher will be a featured speaker at the National Business Institute litigation CLE seminar “Dirty Litigation Tactics: How to Deal with the “Rambo” Litigator” at the Hilton Garden Inn Columbus Airport on July 31, 2015. For more information go to: http://www.nbi-sems.com/Details.aspx/R-69518ER%7C?ctname=SPKEM
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