Franchising is a popular option for entrepreneurs who want to get started running a business quickly. Setting up a franchise allows you to take advantage of the expertise, supplier network, and brand name of an existing company, so you can hit the ground running instead of having to build up business connections and a good reputation from scratch.
When it works well, franchising can be a golden opportunity, but it requires the franchisor and the franchisee to come to a clear agreement about what each party gets out of the arrangement. This is where franchise lawyers come in. A franchise lawyer provides a variety of legal services to franchisees, helping ensure their interests are protected when setting up their franchise business.
Franchise legal services address the needs of single and multi-unit franchisees, helping them understand the terms of any agreements they’re considering entering into so they can make an informed decision before signing. Experienced franchise attorneys can help with a number of issues, including:
Legal agreements are key instruments that establish the rights and responsibilities of everyone involved in the business of setting up and operating a franchise. Franchise attorneys can help with everything from reviewing property lease agreements and supplier contracts to assisting with company formations.
Franchise attorneys are specialists who have spent years getting to know the franchise industry. They have a good understanding of contract law and work to protect your interests and provide legal advice about the agreements you’re considering entering into.
As experienced legal professionals, these industry experts study franchise disclosure documents and alert you to any potential risks you may have overlooked. The franchise disclosure document lays out the duties of both parties in the franchise agreement, and it also reveals the franchisor’s financial statements and lays out the relationship between the franchisor and the franchisee.
General laws relating to franchising are described in the Federal Trade Commission Franchise Rule. However, states are free to pass their own laws governing the operation of franchises. A franchise law firm can explain the rules in your state, helping you abide by any local tax and financial obligations.
Franchisors often have pre-set terms for how disputes with a franchisee are handled, and these terms can be complex and detailed. Franchisees may find themselves struggling to navigate them if a dispute arises. A good franchise law firm helps a franchisee understand what they need to do to file a dispute and ensure it’s done correctly.
At Franchise Supplier Network, we have more than 80 years of collective experience in franchising and an extensive network of contacts across the franchise industry. We use a four-step discovery and support process to connect franchisors with the suppliers they need to help them build a sustainable, successful business.
We provide free services for franchisors and work with proven franchise suppliers, including experienced franchise law firms, helping them connect with prospective clients who could benefit from their services.
If you’re considering setting up a franchise or looking to grow your existing franchise, or if you need legal services for other reasons, contact Franchise Supplier Network today to be connected to a legal services supplier that can meet your needs.
