Congratulations! You have leaped into the world of franchising and buying an existing franchise. Here is how a franchise attorney can help you to prepare all the documents and solve legal issues.
Do You Need a Franchise Lawyer to Buy a Franchise?
A franchise lawyer will help you every step of the way in deciding whether or not to buy a franchise. The first order of business is to help you read the fine print of the FDD (franchise disclosure document), and your franchise lawyer will help you understand all the language it contains.
What is Franchise Disclosure Document (FDD)
FDD is a 23-item document that outlines the franchise’s tiny little details. Of particular importance is Item 19, which may include financial performance representations that can help you determine whether or not the franchise is likely to make you a lot of money. The FDD also contains the Franchise Agreement. These legal documents are extremely important to the relationship between the franchisee and franchisor, so understanding them entirely is imperative.
Conclusion
A franchise attorney like those at Drumm Law will help you make an educated decision about whether or not you should be buying an existing franchise. If you decide to buy the franchise, your lawyer will help you set everything up and also help intercede for you if something goes wrong through your franchise ownership.
Hire Drumm Law to Help You With Buying an Existing Franchise
Drumm Law is a virtual law firm. Unlike our competitors, we do not have an expensive downtown office and the overhead that comes along with it. . We call, email, text, Skype, chat, “goto,” webinar, Facebook, Linkedin, meet, tweet, and greet our clients. We have attorneys throughout the country. While we have conference rooms available when needed, we prefer to meet our clients over lunch or drinks. Contact us to book a consultation!