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National Franchisee Law Firm
Purchasing a franchise can be one of the most efficient ways to achieve the American dream of owning your own business. However, buying a franchise can also be filled with risks. It is important that you are aware of what you should expect from the franchisor and what your continuing obligations to the franchisor will be.
Don't let your business dreams turn into a nightmare. If you are thinking of buying a franchise, contact an experienced franchise lawyer at Spadea, Lanard & Lignana today to discuss your plans. We stay on the cutting edge of the franchise world in order to serve you best.
"We have helped hundreds of people throughout the United States evaluate franchise opportunities."
Attorney Nancy Lanard
Read Nancy's article How to Fend Off Franchising Fiascos that originally appeared in The Costco Connection, a magazine published by Costco Wholesale Corporation.
Buying a Franchise? What to Do Next
Read the initial items of the Franchise Disclosure Document (FDD).
It describes the investment you will be making, the anticipated initial costs, your legal obligations and the background and financial strength of the franchisor, among other things.
Contact current and former franchisees.
Ask lots of questions, including ones to help you determine the strengths and weaknesses of the franchisor.
Review the franchisor's audited financial statements
Audited financial statements of the franchisor are contained in the FDD, and you should carefully review them with an experienced business accountant. Ask your accountant to evaluate the financial strength of the franchisor, whether this business will help you accomplish your financial goals and an estimate of how long it will take to meet those goals.
Consult an experienced franchise attorney.
Purchasing a franchise is a major decision. Do not sign any franchise agreement without thoroughly exploring the opportunities and obligations involved. The franchisee lawyers at Spadea, Lanard & Lignana can advise you on the risks and advantages of making this substantial investment before you sign a franchise agreement. We can help you answer these important questions:
- Should I buy this franchise? Our experienced franchisee attorneys can help you evaluate exactly the type of investment that is required of you and what your ongoing financial, operational and other obligations will be.
- What am I agreeing to? We will review the franchise documents and translate the legalese into plain English so you can make an informed decision. We will revise and negotiate the franchise agreement and other agreements you may be asked to sign to place you in a stronger position with your franchisor.
Legal Advice Throughout the Life of Your Business
Our service doesn't end after the opening of your franchise. We provide a variety of legal services, including review and negotiation of commercial leases, advice on employment law matters and preparation of employee handbooks and policies. We can assist with drafting and review of business contracts too. We also assist franchisees when it comes time to sell their franchise business.
The franchise attorneys at Spadea, Lanard & Lignana help people evaluate franchise opportunities throughout the United States. Contact our nationwide franchise lawyers today.