What You Need to Know About Franchising
The Pilgrims landed at Plymouth Rock in what is now the beautiful Commonwealth of Massachusetts…is it so surprising that franchise companies also want to put down roots there? Massachusetts is a non-registration state, which means franchisors do not have to register a franchise prior to selling them there.
While Massachusetts’ lack of franchising regulations means less red tape (and is one of the appealing reasons so many franchisors choose to sell franchises here), franchisors are still beholden to the regulations set by the Federal Trade Commission regarding the franchise disclosure document (FDD).
Massachusetts franchises put $12 billion back into the state’s economy.
Donut franchises are the most popular, making up 15.6% of all franchise units.
There are 12.5k franchises in Massachusetts.
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 MA 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.