Franchising Your Business in Gilbert
If you decide to start franchising your business, an experienced franchise attorney at Denton Peterson Dunn can assist you through the process. Choosing the right structure for your proposed franchise and then preparing the proper Franchise Disclosure Document are some of the most important first steps for starting your franchise. There are strict rules regarding the Franchise Disclosure Document that you will need to be aware of. You cannot sell a franchise until the Franchise Disclosure Document is properly prepared for prospective franchisees.
During our initial meeting with franchisors, we ask our clients to fill out an extensive questionnaire and we have an in-depth discussion to understand your goals for franchising your business and how you want to structure your business. Our attorneys will help you understand the pros and cons of each franchise type, such as unit franchises, area representation franchises or other franchise models. We also discuss other important information regarding the franchise including franchise fees, royalty fees, advertising, term of the franchise relationship, franchise territory, trademarks, and financial disclosures.
Once you have determined the right direction for your company, we work on drawing up the Franchise Disclosure Document to get your new business opportunity started on the right foot. The Franchise Disclosure Document or FDD is a lengthy document in which franchisor provides specific information about the offered franchise as required by federal law. The FDD and associated documents will ensure you are meeting your legal requirements, and it will give potential franchisees the information they need to make a decision about your company. The document also includes exhibits with sample franchise agreements, financial statements, and other information. Additionally, the FDD must also be updated to reflect any changes in the business. We help clients update their FDD as needed.