What You Need to Know About Franchising
Are you considering franchising your business in the Chicago area? Spadea Lignana Franchise Attorneys is here to help. With our expertise and experience in franchise law, we can guide you through the process of launching a successful franchise.
Chicago has a rich history in franchising and serves as the headquarters for one of the most successful restaurant franchises: McDonalds. Ray Kroc, credited with the global expansion of McDonald’s, was born in Oak Park, Illinois.
McDonald’s isn’t the only food franchise with a fun history in the Windy City. After White Castle opened up a Chicago location in 1928, they began modeling stores to look like Chicago’s Water Tower. As of today, none of these steel buildings modeled after the tower operate as a White Castle.
Illinois Franchise Filing Fees
*Renewal filings must be submitted within 120 days after your fiscal year end or Illinois will require the filing be resubmitted as a new initial filing with payment of the initial fee.
**Post-effective amendment filings must be submitted if you are making a material change to your FDD after your initial or renewal filing is approved. Pre-Effective Amendment filings are submitted if you are making a material change to your FDD but your initial filing or renewal filing is not yet approved. No further sales may be made in Illinois until the amended FDD is approved and the registration is effectively amended.
Our Chicago Franchise Lawyer Services
Whether you are just starting to explore the idea of franchising or you are already in the process of launching a franchise, we have the expertise and resources to support your needs.
Some of our key franchise legal services include:
Franchise Agreement Creation: The franchise agreement defines the legal relationship between the franchisor and franchisees. Franchisors need to ensure this agreement is clear and covers all the necessary provisions.
Franchise Disclosure Document (FDD) Review: The FDD is a crucial component of the franchising process, as it provides important information about the franchisor and the franchise opportunity. Our franchise lawyers will carefully review the FDD to ensure legal compliance and identify any potential risks or concerns.
Franchise Entity Formation: When establishing a franchise, it is essential to determine the appropriate legal structure for your business. Spadea Lignana will guide you through the process of franchise entity formation, helping you choose the most suitable structure that aligns with your goals and protects your interests.
Benefits of Hiring Franchise Lawyers
There are several benefits to hiring franchise lawyers when considering franchising your business in the Chicago area:
1. Legal Expertise: Franchise lawyers specialize in franchise law and have in-depth knowledge of the legal requirements and regulations associated with franchising. Hiring a franchise lawyer ensures that you have access to expert advice and guidance throughout the process.
2. Compliance with Regulations: Franchising involves complying with various regulations at the federal, state, and local levels. Our franchise lawyers stay updated with the latest laws and regulations in the Chicago area, ensuring that your franchise is in compliance and minimizing the risk of legal disputes.
3. Drafting and Reviewing Contracts: Franchise agreements and contracts can be complex and filled with legal jargon. Our franchise lawyers are skilled in drafting and reviewing these contracts to ensure that they are ready for franchisees.
Flat Fee Program for Franchisors
Spadea Lignana’s CORE program for franchisors is a cost-effective and practical solution for the ongoing legal needs of franchisors, including but not limited to, FDD updates, state registrations and franchise agreement executions. Through a proprietary cloud-based system we can effectively and efficiently manage FDD Disclosures and Franchise Agreement executions for fair flat fees billed monthly. We believe that hourly billing, although necessary in certain circumstances like complex M&A deals and litigation, can weigh on the relationship between client and attorney. By coming up with a fair flat monthly fee, the uncomfortable negotiating of whether or not a 6 minute increment in your bill for replying to an email was legitimate goes away.
Attorneys Who Understand IL Franchise Law
Franchise laws vary from state to state, and it can be difficult to understand the requirements. Spadea Lignana has streamlined the process to ensure you remain compliant as you grow nationally.