When you are thinking of buying a franchise (or upon renewal of an existing franchise), a comprehensive review of the Franchise Disclosure Document, Franchise Agreement and other documents you are expected to sign is imperative. These documents not only provide you with important information for you to consider prior to signing on the dotted line but layout the relationship between you and your franchisor for many years to come.
A full review will help you find potential trouble spots in your agreement before you commit as well as provide you with the framework you will be operating under. In addition, a full review will identify areas of potential negotiation with the franchisor as well as prepare you for the steps required to move the acquisition along. This way, you can negotiate with the franchisor to get the best possible terms.
You should seek counsel that will provide you with a detailed written report outlining the key terms of your Franchise Agreement and Franchise Disclosure Document, followed up with an in-person or telephonic consultation to review the findings and answer any questions you may have.
A franchise is a long-term commitment, with a substantial financial investment; you should be fully informed before you invest in any franchise (or renew an existing franchised business) with a full and comprehensive initial review. The review will save you time and money in preparation, and avoidance of issues that can be addressed now, instead of later when they become problems.
If you are ready to buy a franchise, have somebody on your side to walk you through the process. Call Franchise Legal Support today!
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