Did you know that your fiscal year can affect your franchise sales?

Check out our latest franchise question to find out why:  https://drummlaw.com/blog/franchise-question/choosing-a-fiscal-year-end-for-your-franchise-company/  

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The franchisee breached their agreement. Now what? The default seems plain enough, so why would I need a lawyer’s help?

So, your franchisee has breached the terms of their franchise agreement. What do you do next? While their breach may be cause for termination, you shouldn’t rush into any conclusions.  Otherwise, you could be making a misstep. First, consider whether a lawyer or compliance manager is needed.  Not all defaults are equal.  Some might require a simple phone call to fix.  Others might require a…

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Should I have an Item 19 (Financial Performance Representations) in my FDD?

If you are looking for a one word answer, then it is YES. You should have a Financial Performance Representation, or Item 19, in your Franchise Disclosure Document. The FPR is the first step in the communication process between you and your possible franchisee regarding the revenue or profits of the franchised business. Having an accurate representation of your franchised business in your FDD is…

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I am interested in buying an existing franchise

Congratulations! You have made the leap into the world of franchising, and have decided to buy a franchise. A franchise lawyer will help you every step of the way in deciding whether or not to buy a franchise. The first order of business is to help you read the fine print of the FDD (franchise disclosure document) and your franchise lawyer will help you to understand all of the language it…

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Do I need a franchise attorney to conduct an FDD and Franchise Agreement Review before buying a franchise?

Yes, you should enter into a contract agreement without a franchise attorney by your side. Although there are many great lawyers in the world, and you may even be related to or good friends with some, the particulars of the FDD and the Franchise Agreement are such that you will want someone on your side who can understand all of the legalese and help you to solve problems even before they arise.……

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Can you own more than one franchise?

You have probably heard the phrase “there is safety in numbers.” And this is true, even if you are talking about numbers of franchises. A clever business person can certainly own more than one franchise, and there are several ways to go about this. Multi-Unit Franchise A multi-unit franchise is one in which the franchisee agrees to purchase and run several (or many) franchises of the same type.…

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How can a franchise attorney help with a retail commercial lease negotiation?

If you want to open a retail franchise, you will likely need to lease some commercial space. And as with anything, you will want to get the best terms for your deal that you can. Hiring a seasoned attorney will give you a stalwart defender who will be by your side and support you in all retail commercial lease negotiations. Though a franchisor will give you all the tools of the trade, and you…

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What are the benefits of having an Item 19 (Financial Performance Representations) in my FDD?

No one wants to air their dirty laundry in public, but having an accurate Financial Performance Representation in your Franchise Disclosure Documents will help your franchise rather than hurt it. You don’t need to fudge the numbers and make everything look perfect; that is simply not realistic. Certainly there are gray areas in an Item 19, and that is where Drumm Law can help, as we specialize in…

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How are franchise lawyers different from general business lawyers?

Although you might be tempted to scrimp on a lawyer because you are already sinking so much money into buying a franchise, this is not a good idea. As the old saying goes, you get what you pay for. If your uncle is a general business lawyer or your buddy is a family lawyer, you might be tempted to have them look at your contracts and help you through the process of franchising. But there are…

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What do franchisee attorneys do?

Franchise attorneys are with you every step of the way to protect you if you are thinking about buying into a franchise. When purchasing a franchise and signing an agreement to uphold the procedures and policies of the franchise, it is in your best interest to have a franchise lawyer read through the paperwork with you. Franchise attorneys can help you avoid problems before they occur, and answer…

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