What You Need to Know About Franchising
Whether you are starting a new franchise or buying or selling an existing franchise, there is an important law that applies to all franchisees and franchisors in NJ, known as the New Jersey Franchise Practices Act. This legislation has very specific rules about what is considered a franchise and also establishes rules about when you can choose to not renew a franchisee.
New Jersey is not a registration state for franchises, which means that you don’t have to submit your FDD to a state regulator for review. While there are not requirements for the state of New Jersey, you must still comply with national franchise laws.
Saladworks Originated in New Jersey
Number of Franchise Establishments (2019): 19,571
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 NJ 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.