Home / Franchise Articles / Franchise law is a big part of what you must navigate as you prepare to make big money in franchising but it is worth the effort.
When you get ready to offer franchises of your prosperous business, it pays to be aware of franchise law issues that must be handled just right. When it gets right down to brass tacks, that franchise agreement that you sign with each and every bright eyed new franchise owner is a legal document.? The new franchise owner is committing to get in there and roll up his or her sleeves and make that franchise work.? That commitment includes a long term time frame where nobody cuts and runs, lots of hard work and big piles of money as well. And when money is involved in a business relationship, there are contracts.
There is no getting around that the government big shots have their noses in the middle of the franchising process in a big way. That is not necessarily a bad thing. Since the FTC has become more active in managing franchise law, the business phenomenon of franchising has taken off like a rocket ship. So clearly, for once the politicians are helping more than they are hurting.
That said, you should be on top of what is required by franchise law as you start to roll out your franchising business.? That advice is especially true when it comes to franchise documents such as the franchise disclosure statement. The all important franchise agreement is what makes everything legal and puts you and the new franchise owner in a legally binding relationship that some have suggested is even harder to get out of than a marriage license.
It makes sense that early in your discussions about launching into the world of franchising, you should get a good franchise lawyer involved.? Now you may think you have enough lawyers working with your company to recreate the OJ trial but think twice about simply calling in your general corporate attorneys to handle the complicated issues of franchise law and how to properly prepare franchising documents to strike the right kind of deal with future franchise partners.
Franchise law is a very specific area of government regulation. A lot of money is on the line when those franchise agreements kick in.? Not only do you call for some serious cash from the franchise owner in franchise fees, but when the big profits start to roll in, franchise royalties can fill up everybody?s? bank accounts. To make sure that every franchise document you present to that future franchise owner is absolutely kosher, look for a franchise lawyer who specializes in this area of business legal representation.
The details of franchise law get even more complicated when you factor in franchise law for the state where the franchise buyer resides and does business. This can get pretty complicated if you begin to sell franchises in many states. The anti gets upped even more when you take your franchise empire international. You want a franchise lawyer who knows how to deal with the many layers of franchise law each step of the way. If you get that kind of help and you do all you can to understand franchise law in your daily dealings with your vast army of franchise owners, the results can be very rewarding indeed.
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Source: http://www.franzoom.com/franchise-articles/franchise-law/
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