Buy a Franchise

When should you hire a franchise lawyer?

The best time to hire a franchise lawyer is (1) after you do your homework but (2) before you sign the franchise agreement.

Before your buy a franchise, you first have to learn about the franchise. Read the FDD. Go to Discovery Day. Visit franchised locations. Call as many current and former franchisees (their contact information will be in the FDD) as you can to ask about the business. Look at competitors and compare the businesses (See How to find FDDs Online). Create a pro-forma with a financial advisor. Make sure the business terms and numbers work. And don’t forget to run a Google search to see if there are any unhappy former franchisees out there. If everything checks out, contact your franchise lawyer.

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