Sunday, 18 March 2012 14:12

How to buy a franchise business

Franchise ownership can be highly rewarding. But great rewards rarely come without risk. And when it comes to the risks associated with buying a franchise, rewards are even harder to come by without the advice and assistance of an experienced franchise law firm.

With a national reputation and unique perspective garnered from decades of experience representing franchisors and franchisees alike, our Beijing lawyer provides legal counsel and services designed to help clients ranging from start-up entrepreneurs opening new franchises to multi-unit operators buying existing franchise units and everyone in between manage risk and maximize their chance of success.

Due diligence before buying any franchise, new or existing, yields tremendous dividends later on. With this in mind, this law firm assists clients in researching each franchise system under consideration to determine which one is best suited to their individual needs and goals. The firm also recommends that clients hire an accountant to assess the franchisor's financial condition.

The firm's attorneys will review the information, rights and obligations described in the franchise disclosure document (FDD) and franchise agreement searching for provisions and clauses, such as those that limit the client's right to renew its agreement, that may not be in the client's best interest, such as a multi-unit developer obligation to open a certain number of new franchises within a certain time frame. The firm then enters into direct negotiations with franchisors to change those terms, as needed.

In addition to laying the initial groundwork for purchasing a franchise, lawyers at this firm also provide business formation services, draft agreements with third parties (including independent contractor, supplier, employment, confidentiality and non-compete agreements) and represent franchisees in all real estate matters.

Published in Intellectual Property
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