Is a Franchise a Safe Investment?
Not necessarily. There is a broad public perception that franchises are more likely to succeed than independent start-ups. While this is probably true, there are a lot of trade offs between the two options that a person should consider. Franchises do fail but they usually do so unobserved. The best investment for you depends on different factors many of which are personal to you.
How Do I Do Due Diligence on A Franchise?
Focus on using your head more than your heart. Objectivity is the key. There are certain effective ways to gather information to make an informed franchise decision. Our webinars offer tips and, when engaged, we provide a detailed guide to performing skilled due diligence.
What Concerns Should I Have About Signing a Franchise Agreement?
You are making a significant financial and time commitment; often hundreds of thousands of dollars and years of your life. It makes sense to fully understand what you are getting into. There is no money back guarantee and there is no lemon law for franchises. It is buyer beware.
Will the Franchisor Allow Me to Make Any Changes to The Franchise Documents?
It depends on several factors but, except for the very largest of franchisors, there is a reasonable chance certain concessions can be made which would be beneficial to a new franchisee.
What Is the Process for You to Do a Legal Review of My FDD?
It's a simple process. We first have a call/meeting to informally discuss things. You will provide an electronic copy of the FDD to me by e-mail. The analysis will be returned to you by e-mail and then we'll schedule a follow-up call/meeting to discuss the findings.
How Can Your Law Firm Help Me in The Franchise Process?
We explain legal ramifications and detail risks contained in the FDD. We carefully consider the future and do our best to help you (1) avoid pitfalls and, (2) be properly positioned to enjoy long term success.
Can You Help Me Even if I Do Not Live in Florida?
Absolutely. There is no legal constraint preventing us from helping anywhere in the U.S. and communication is easily managed by phone and internet.
If a Broker Helps Me Find a Franchise, Do I Need an Attorney to Review the Documents?
A broker is a salesperson who gets paid when you sign up for a franchise. In effect they get a portion of the franchise fee you pay the Franchisor. While a broker with integrity will work to find a good franchise match for you, his or her concern is not the legal implications of the FDD nor are they particularly concerned with your long term success.
How Long Does It Take for You to Review an FDD?
The goal is to complete a review within 2 weeks of receipt of your FDD but because the reviews usually involve 20 hours or so of work, it may be longer. We will give you a projected completion date prior to being hired.
How Much Do You Charge for Franchise Services?
We purposefully have a number of service options to help you. Check out our free webinar which offers substantive information. Then, as a value-oriented option & because we hate to see people blindly sign franchise documents, you can sign up for a series of webinars designed to teach, in-depth, what you should look for in an FDD. The cost is $400. Included in the Webinar Package is 1 hour of attorney consultation time. For buyers wanting a Full/comprehensive legal analysis of their FDD, we offer a flat fee of $1,500.