A franchise lawyer with an in-depth knowledge about franchising is known as a franchise lawyer. They stay current with the changes and updates on franchise law. You may have been told that you don’t need to hire a franchise lawyer if you don’t have things to negotiate for. However, your lawyer will be there to look for red flags and to protect your interests. The following are some of the reasons you need a franchise consultant and lawyer on your team in most cases…
Franchise Disclosure Documents
Franchise Disclosure Documents are better understood by someone who also writes them and understands them. You can ask them to explain the documents and offer guidance on your specific situation.
A franchise consultant and lawyer are there to protect you. They do this by consulting and giving advice about your franchise business. Some examples are should you be alone, part of a corporation, or an LCC (Limited Liability Company). Having your franchise under the correct entity considerably aids in protecting your interests if any legal issues arise.
Your commercial lease can best be negotiated by your franchise consultant and lawyer. If there is a physical building in your franchise, the lawyer will be especially important to you. The documents can be confusing and are usually more friendly towards the landlords. A commercial lease is usually more than just a one-year lease so, it is important that you completely understand it. Your lawyer and consultant will be able to negotiate the best terms and help you to understand the lease better than you could by yourself.
In conclusion, a franchise lawyer should absolutely be hired if you are considering buying a franchise. It can be daunting to try to figure these things out on your own. Your lawyer and consultant will help you to wade through all the legal jargon and protect your interests.
About Aaron Bakken
Franchise Consultant for The Franchise Consulting Company
Aaron has 20+ years of franchise and independent business ownership experience. He also spent 5 years as the VP of Franchise Development for an international franchise group, growing the franchise to the advent of a private equity buyout. Whether you are looking to buy a franchise opportunity or franchise your business, Aaron knows how to guide you.
No Cost To You
Aaron is paid by franchisors and development companies for bringing them viable franchise investors. So frankly, his clients have nothing to lose by engaging with him but a bit of their time. Aaron helps his clients navigate the complex world of franchise ownership and development and provides long term guidance to help his clients achieve their entrepreneurship goals.