If you are a franchisee or thinking of being one, one of the first things you should consider doing is to hire a franchise lawyer. A franchise lawyer will have all the necessary experience and his or her advice can be invaluable. Some people may question whether they need to hire one. This would depend on the individual in question.
If the person has some experience and is also a risk taker, then perhaps for them, it may not be so important. However, franchise law can be really tricky and difficult to understand, in which case, it would be better to hire one and stay safe. Here are some reasons why it’s a good idea to hire a franchise lawyer.
1. Franchise Lawyer’s Expertise
You need to be clear on one thing; hiring any lawyer is different from hiring a franchise lawyer. A franchise lawyer will have the experience and expertise. They will be able to explain away any confusion you may have. They can tell you things in a simplified form, since franchise law can be confusing to most people.
Hiring any lawyer is better than not having a lawyer at all, but a lawyer may be specialized in wills or other areas, which is not what you want or need. Remember that not all lawyers are the same. If your lawyer has no practical experience, the legal advice you receive may be of little value and ineffective. You, as an entrepreneur must engage the correct and trusted legal professional to provide you with practical, consistent and expert legal advice, an expert in franchise law.
2. Franchise Laws Are Complicated
Franchising is a complicated issue, but obviously not to a franchise lawyer. They can go through everything with you in order to take away the confusion and explain it in a language that you can easily understand. They can help make relevant things work together in order to keep your best interests at heart.
3. Franchise & Licence Agreements
Don’t make the mistake of thinking all franchise and licence agreements are pretty much the same. Some of the differences can be rather subtle which adds to the confusion. A lawyer specializing in franchise law will be very familiar with these subtle differences between the two agreements and will be able to design each of them accordingly.
A franchise lawyer can help with certain negotiations. There are certain areas that are non-negotiable such as the daily operations but there are other areas of an agreement that can be negotiated. This would depend on a franchisee’s circumstances.
5. Don’t Worry About Legal Fees
Some franchisees make the mistake of not hiring a franchise lawyer in order to save on that. This may actually have the opposite effect and could end up costing you. Think about this for a second. Here you are, having invested tens of thousands of dollars, perhaps even over a hundred thousand dollars only to try and scrimp and save on legal fees? Your legal fees will be a small percentage of this, so, having spent all this money, you’d be wise to hire a franchise lawyer to help you every step of the way and not make costly errors.