Franchising your business can be a great way to expand your reach and increase your profits. Alternatively, you can also consider buying a franchise if you are looking to own your own business but prefer to use an established business model instead of starting from scratch. Buying a franchise allows you to take advantage of the established reputation and client base that a business has, so you can minimize some of the startup risks that you would otherwise face.
However, both of these options–that is, becoming a franchisor or a franchisee–have risks to go along with the possible rewards. To minimize these risks, it’s crucial that you work with an Arizona franchise lawyer, whether you are considering franchising your business or buying a franchise. Here are five ways that we can use our experience as franchise lawyers to maximize your chances of success in your franchise business:
There are a lot of complex laws surrounding franchising. An experienced Gilbert franchise attorney understands those laws inside and out and can help guide you through the process. Your attorney will help you understand your rights and responsibilities within the law, help you understand what’s possible, guide you through the process from beginning to end, and help you mitigate your risk.
Think of your franchise attorney as your expert guide through your franchising journey. Your lawyer will give you all the information you need and will look out for your best interests.
You must start your franchising relationship on the right foundation. A dedicated franchise lawyer can write strong contracts for all your franchise dealings, including the initial franchise agreement, your employment contracts, your vendor contracts, and more.
With the right contracts, you can avoid litigation and losses later. A strong contract can shield you against lawsuits, and it can make it easier to enforce the terms of your agreements should the other party default.
If you are looking at franchising your business, then there are many laws around compliance that you will need to comply with. You need to follow those laws–but more importantly, an experienced franchise lawyer can make sure that these required documents are drafted in a way that minimizes your risk moving forward.
If you are considering becoming a franchisee, then the franchisor will provide you with a franchise disclosure document and a franchise agreement, among other documents. These documents are long, but understanding them is crucial to ensuring your future and understanding just how much control you are yielding to the franchisor. Many times we talk to franchisees who don’t understand how much power they gave up when they signed that franchise agreement. We can help ensure that doesn’t happen to you.
You may be presented with a contract that you are asked to sign. This is most likely if you are considering franchising a business. The company that is offering the franchise will likely already have an agreement ready that it expects you to sign.
Rather than just signing on the dotted lines, you need to bring the contract before your own Tempe franchise attorney. Your attorney can advise you on which aspects of the contract pose risks to you or could undermine what you want to accomplish. Your attorney can then negotiate for new terms on your behalf, helping you to gain a stronger foothold.
There are a lot of risks to entering a franchise agreement, even if some of those risks are somewhat lower than opening a traditional business (or opening a second business instead of franchising it out). There are also risks inherent to the franchise agreement. Since you are not an expert in business or franchise law, it would be very easy for you to overlook these risks.
A Chandler franchise attorney helps you to understand the risks involved. Your attorney will also give you advice on how to mitigate or reduce those risks.
As a franchisor, you want to be sure that your business name and reputation will be protected, that you will get the appropriate profits from your franchisees, and so on. As a franchisee, you want to be sure you get the support you need from the franchisor, that you get the maximum profits, that you have a clear exit strategy, that you maintain as much control as possible, and so on. Whichever side you are on, a Scottsdale franchise attorney will work to protect your interests and fight to put the measures in place that will help you meet your goals.
Always work with an experienced franchise attorney to help you through the franchise process, to write or negotiate any of your contracts, or to navigate any disputes that arise. Your attorney will be a dedicated advocate who can help you understand your rights and responsibilities under the law, and who can fight to protect your interests.
The experienced franchise attorneys at Denton Peterson Dunn are ready to help you if you are ready to franchise your business or are ready to buy a franchise. We can analyze your franchise agreement, negotiate contracts on your behalf, or help you create a new agreement altogether. We can help you comply with federal and state law and make sure you draft a franchise disclosure document that complies with all applicable laws. We can provide counsel, help you manage disputes, and more. We have offices in Scottsdale and Mesa, and we help businesses of all sizes. Contact us today to schedule a consultation with our trusted franchise lawyers.
Brad Denton – Denton Peterson Dunn
Mesa Location
1930 N Arboleda #200
Mesa, AZ 85213
Office: 480-325-9900
Email: brad@dentonpeterson.com
Website: https://arizonabusinesslawyeraz.com
Scottsdale Location
7272 E Indian School Rd #540-132
Scottsdale, AZ 85251
Phone: 480-325-9919
Email: service@dentonpeterson.com
Website: https://arizonabusinesslawyeraz.com
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