Monthly Archives: August 2022
As a prospective franchisee, you need to know that you are making sound decisions based on all pertinent information. You need to feel confident in your buying decision, and you need to go into your franchise opportunity with your eyes wide open.
If you are interested in buying a franchise and the franchisor considers you to be a qualified candidate, it will provide you with two key documents—the Franchise Disclosure Document (FDD) and the franchise agreement. Both of these documents are extremely important, and, as a prospective franchisee, it is imperative that you carefully review both documents with the help of an attorney.
When you buy a franchise, your relationship with the franchisor is governed by the terms of your franchise agreement. This is a long, complex and legally-binding document, and signing a franchise agreement can put you in an untenable situation if you aren’t careful. As a prospective franchisee, you need to make informed decisions throughout the buying process—and this includes making informed decisions about the terms to which you are willing to agree.