5 Ways a Franchise Lawyer Can Be Your Invaluable Partner

March 10, 2015

I know that being a franchise broker can be challenging. Securing franchise partners takes time. Buyers need to be vetted. Deals fall through. Financing doesn’t get approved. Potential franchisees need a little extra handholding.  

The last thing you need is the process getting held up by a lawyer.

I have a deep appreciation for the essential role franchise brokers play. Having specialized in franchise law for 10 years, as well as being a co-owner in a franchise, I have seen your impact first hand.

That’s why it’s my mission to be the most valuable partner you have. I want to help you get the deal closed faster.

Here are specific 5 ways I can help streamline the process:

Help Structuring the Deal 

Brokers frequently turn to me for advice in developing strategies when structuring deals. This is becoming more and more prevalent as new franchises continue to enter the market. Having a proactive strategy helps you market to, and entice, qualified buyers.

3-5 Day Turnaround

The process of vetting a franchise is extensive. Odds are you have been working with the buyer for a few months. Entering the final phases is exciting. Everything including the Discovery Day has gone well. The last obstacle is the FDD review.

Speed is important. Don’t kill the momentum by partnering with a lawyer where the FDD will sit on a desk for several weeks. Because of my experience, I have streamlined the process into an efficient, yet thorough, 3-5 day period. You have my guarantee that the FDD won’t be swept to the side.

In Depth Reviews & Tailored Service 

While I have the process down to a timely science, I provide the highest quality service to my clients. I start by completing all the necessary background checks on the franchise: 

  • Ensuring the franchisor registration is in good standing
  • Checking to see all Trademarks are live and owned by the franchisor or affiliate of the franchisor.
  • Ensuring the franchisor registration is in good standing

Next I review the franchise agreement in depth. I categorize the clauses into three different categories:

  • Standard
  • Irregular
  • Unreasonable

Then I have an in-person or phone meeting with the client to review the document. I ensure they understand and feel comfortable with the clauses, as well as outline any particular nuances they should be aware of. 

Identifying what is Negotiable 

There are ironclad clauses and then there are those with a little wiggle room. While the majority of negotiable clauses aren’t game changers, identifying them can work in the franchisee’s favor. Also, any unreasonable clauses outlined during the review can be brought up for negotiation.

Fixed Fee

I don’t want franchisees to have any anxiety or uncertainty around cost when working with me. That is why I adopted a flat fee for reviewing the franchise agreement. 

Conclusion

You should view your relationship with a franchise lawyer as a partnership. I am here to help you streamline the final phases of closing your deal. Together we can help more people jumpstart the next phase of their life through franchising.

To see how I can help you close more deals, contact me today!