Advice for Working with a Franchise Lawyer

Buying a franchise is a major decision. Although buying a franchise can help minimize or even eliminate many of the risks commonly associated with starting a new business, there's still a lot to carefully consider. Prior to agreeing to buy a franchise, it's crucial to do enough due diligence to determine if a specific franchise opportunity is the right fit for you.

Reviewing legal documents is a main component of the due diligence process. Because you want to be sure that you know exactly what you're agreeing to, it's important to be advised by a lawyer you can trust. Not only will a quality franchise lawyer help you understand the legalese involved in this decision, but they'll also be able to provide additional guidance in terms of evaluating the potential of a franchise investment.

Since a franchise lawyer will play a key role in this process, here are some things to keep in mind in terms of working with one:

Choose a Specialist

This advice holds true for working with a lawyer for any type of legal matter. As you start looking for potential lawyers to work with, reputation isn't the only factor you want to take into consideration. It's also important that they have experience working with business and franchise owners. While a lawyer who's recommended by lots of people is obviously good, if they don't work on business matters on a regular basis, they're not going to be able to provide you with as much help as someone who does.

Know in Advance If Changes Can Be Made

In some cases, a franchise agreement can be written and then accepted by the franchisor. However, since not every franchisor will accept a rewritten agreement, it's important for you to get this question answered before you start working with a lawyer. Otherwise, you could easily waste the lawyer's time and your money on a needless rewrite.

Take A Lawyer's Feedback in the Right Context

A good lawyer isn't going to try to sell you on the idea of buying a specific franchise. Instead, a good lawyer will take this review from the opposite perspective. Since the lawyer you work with will likely point out every potential negative aspect of this decision, be sure to take what they say in stride.

Ask Other Franchisees for Referrals

If you follow the due diligence process, prior to the time coming when you will need a franchise lawyer, you will have already spoken to at least a few current franchise owners. During those conversations, you should ask each owner who they used as their lawyer, as well as whether or not they'd recommend them. This simple approach is arguably the easiest way to find a great lawyer to help you.

Although making your decision about buying a franchise is something that's going to take time, enlisting the help of a trusted lawyer will help you be confident that you're making the right decision for your specific needs and goals.

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