If you are buying a franchise business or renewing your franchise agreement you want to get it right. Mistakes can be costly.
We understand the things that make the difference.
Before you buy a franchise, you will need to consider many factors including:
- whether a franchise is the right fit for you;
- whether the franchise you are considering is the right fit for you;
- what business structure best suits your financial needs;
- what is the length of the franchise and/or any lease;
- what financial advice have you obtained and what has this advice been based on;
- is the proposed franchise system a proven brand;
- is the proposed franchise business a proven business or is it a new business;
- what are the risks if the business doesn’t work;
- what financial reward will you receive if you build the business;
- your legal and commercial risks.
It is important that you have an experienced franchise lawyer look over your franchise documents and advise you of any legal and commercial risks. An experienced franchise lawyer will also advise you of terms and conditions that are standard in the franchise industry.
We will review your franchise agreement considering:
- whether the franchise agreement reflects usual commercial practice;
- whether the franchise agreement reflects the agreement reached between you and the franchisor;
- whether there is anything unusual or unenforceable contained in the franchise agreement.
We will provide you with plain English legal and commercial advice about:
- the terms of the franchise agreement (including any unusual or unfair terms);
- the legal consequences of signing the franchise agreement in its current form (including the legal consequences of signing any acknowledgments or waivers);
- what your rights are on termination or expiry;
- general protections under the Franchising Code of Conduct.
Contact us to ask about our fixed price packages to review a franchise agreement and provide advice about buying a franchise.