A good attorney can even help you negotiate certain terms in the franchise agreement, potentially saving you thousands of dollars throughout your franchise term. Most potential franchisees think they can save costs at the beginning of the franchise process by simply trusting the franchisor and avoiding legal fees.
A competent franchise attorney can offer useful suggestions on how your new franchise business should be set up. ... It will determine your legal rights and liabilities as a business owner, and will also determine how your business is taxed.Sep 20, 2013
Remember, every contract is different. That's why it's important to consult with an experienced franchise lawyer. Although some franchisors will say their terms are non-negotiable, a franchise lawyer can still help you get a full understanding of your rights, available protections and legal requirements.Jun 17, 2019
While the franchisor is responsible for brand reputation management, franchisees are responsible for marketing their businesses in their assigned market areas. Franchise partners also play a role in protecting and fostering the brand's image.
Benefits of a franchise consultantConfirming "franchisability"Franchise gap analysis.Franchise strategy and offering.Franchise system growth strategies and franchise sales support.Franchise sales compliance training and franchise sales staff recruitment.Operations manuals and training programs for franchisees.
Protecting Your Interests Hiring a franchise attorney is important because, when it comes down to it, their real job is to protect you. It's one thing for them to explain the legal documents in franchising. ... A good franchise attorney will offer his or opinion on the feasibility of your potential new venture.Oct 10, 2014
If you're buying a franchise reviewing the FDD is a critical step in the due diligence process. The FDD is a legal disclosure document that a franchisor must provide to you not less than 14 days before you sign a franchise agreement or pay any money to the franchisor.
They can help you negotiate with a franchisor by explaining what changes the franchisor might be willing to make and which ones will likely be rejected. An attorney with franchise experience can also assist you in evaluating the franchise opportunity and writing your own business plan.
There are no specific laws governing franchising in the Philippines. Franchise agreements are regulated by the applicable provisions of the: Intellectual Property Code (IPC).Jul 1, 2018
To build a strong and loyal customer base by offering only approved products and services and by providing superior customer service. To ensure that all employees are properly trained, and the franchise is properly staffed at all times.Dec 24, 2018
There are two main types of franchising, known as Product Distribution Franchising (Traditional Franchising) and Business Format Franchising, which are conducted under a variety of franchise relationships.
In most cases, the company controls the real estate regardless of how the site or the building is obtained. It then leases those sites to the franchisees, often at a big markup. We spoke with Richard Adams, a franchisee who now operates as a consultant for other McDonald's franchisees.Feb 26, 2015
Finally, what most people dismiss as “boilerplate” actually contains some of the most important provisions in the entire franchise agreement. Understanding things like what steps you have to take (and where you have to take them) in order to initiate a dispute can be crucial to making an informed decision about the franchise opportunity as a whole.
As we have previously discussed, not all franchisors offer protected territories, and not all protected territories as exclusive. You will want to make sure you are comfortable with the territorial protections (if any) being offered.
So, should you hire an attorney to review your franchise agreement and FDD? Absolutely. Despite the franchise relationship and disclosure laws that exist in some states, most franchise relationships are still extremely one-sided.
At the Goldstein Law Firm, we offer three levels of flat-fee Franchise Disclosure Document (FDD) and franchise agreement review services for individuals and groups considering franchise opportunities in the restoration and disaster recovery industry.
When evaluating a new franchise opportunity or preparing for a legal dispute, your choice of legal representation matters. Here are five reasons why franchisees nationwide consistently choose the Goldstein Law Firm:
If you are thinking about buying a restoration and disaster recovery franchise or need an experienced lawyer for a franchise-related dispute, contact the Goldstein Law Firm to arrange a free initial consultation.