Buying A Franchise: Reviewing And Negotiating Your Franchise Agreement
We will review the terms and conditions set forth in your franchise agreement (and in the other franchise documents). Some of the issues that should be considered include: the term of the agreement and the right to renew; whether or not a protected territory is being offered; requirements (including deadlines) to open the franchise; refundability (or not) of the franchise fee; the franchiser’s trademarks; conditions surrounding the opening of your franchised unit; restrictions on transfer; default/termination provisions; requirements to refurbish/renovate the location; and venue and choice of law provisions with respect to dispute resolution. We will provide you with a memorandum regarding our insights and conclusions and, if appropriate, negotiate your agreement with the franchiser. If you are buying an existing franchised business, we will review (or prepare) the purchase agreement and other necessary documents, negotiate the appropriate modifications and work with you through and after the closing.