Online Summit: It’s never been a better time to consider business ownership in 2021

Name: Sandee Devine

Company: Experienced Franchise Attorneys

Our attorneys have been reviewing and negotiating franchise agreements on behalf of franchisees for decades. Franchisors must comply with both federal and state regulations and provide potential franchisees a Franchise Disclosure Document (the FDD) that gives the candidate specific information about the business offering, the contract provisions and the background of the franchisor. The document can be an invaluable resource in a candidate’s due diligence, but it can also be a burden to read and understand for those unfamiliar with franchising or looking at an FDD for the first time.

Understanding the Fine Print

At the end of the day, the Franchise Agreement is what a candidate will sign and what will govern the relationship between the franchisee and the franchisor. It is imperative that franchisees understand their role and their obligations to the franchisor. Our role is not to tell prospective franchisees whether it is a good business idea or not, that is for them to decide. Our role is to help them understand the fi ne print, and if appropriate, ask for concessions through a negotiated addendum to the franchise agreement. Every agreement, system and situation is different. We tailor our representation to the needs and goals of each client.

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