November 1, 2022
A good franchise lawyer can do wonders for your future as a franchise owner. In this post, we’ll share three examples of what a competent franchise attorney can do for both you and your business.
A franchise lawyer, or franchise attorney, is a deep-knowledged lawyer of franchising. A good example of an active and up-to-date franchise attorney would be one who frequently deals with changes and updates in the field Franchise lawyers almost always represent all three types of people pertaining to franchises: those wanting to enter the system (prospective franchisees), those currently within it (current franchisees), as well as those running the show (franchisors).
Here are three ways in which a franchise lawyer can help you if you’re planning on buying one:
We always recommend that you read over any franchise documents you receive, but it’s even better to have someone who is experienced with these types of document give them a look too. That way, if there’s anything confusing or unclear, they can explain it to you. This is where having a lawyer specializing in franchises comes in handy.
When you decide to hire an attorney, they will give you their opinion on the FDD and franchise agreement. This is in addition to personal guidance that is created specifically for your unique situation.
A franchise attorney’s primary duty is to safeguard your interests, and they do that by offering professional counsel on which entity best suits your franchised business.
For example, would it be more beneficial for your franchise business to operates as a Sole Proprietorship, Corporation, S-Corp, or Limited Liability Company (LLC)? Selecting the right entity can protect you and your interests from any legal complications that might arise while running your business.
If you plan on purchasing a franchise that will need a physical space, working with a franchise lawyer is crucial. Without exception, commercial leases are complicated documents — and they also almost always favor the landlord.
Given that a commercial lease is such a long-term investment, it’s crucial that you understand all the details and legalities involved. A qualified franchise lawyer who has experience with leases can help explain the contract to you and potentially renegotiate more favorable terms.
A reliable and knowledgeable franchise attorney can help you understand the potential implications of buying a franchise business. UNITS® Moving & Portable Storage is offering lucrative franchise opportunities across the country. Start your evaluation today and join the UNITS® family!