Franchise law is there to protect you, but getting some help to understand it is a smart move

Franchise law is an area of regulation that is not the evil enemy of anyone who wants to buy a franchise. The fact is that franchise law is there to keep both franchisee and franchisor from losing their shirt in a bad business deal.  For that reason, it pays to understand the role of franchise law as part of the hoops you must jump through to buy a franchise and to know how to jump through those hoops correctly.

One reason it is smart to get some help in the tricky area of franchise law is that the specifics of how to enter into a franchise agreement can change depending on where you live and where the franchisee is located. Too often, the scale is slanted toward the franchisee that may be a large organization.  As you start to sort out the weird rules and regulations just to buy a franchise, you may get a bulky package of franchise agreements and small print rules and regulations that represent the franchise law you are expected to understand.

Don’t be too hasty to rush through that huge stack of forms and franchise laws. For one thing, the more you can wrap your head around franchise law, the better off you will be.  Don’t let the franchisee bully you into thinking you have to sign every form exactly as it is written.  You are a smart one if you have those forms looked over by a franchise lawyer who has your back.

Pick some brains and tap the value of some great franchise legal forms templates and you get the best of both worlds.

Getting a franchise lawyer and a franchise consultant on your side will give you some leverage when sorting out all of the details of franchise law before you begin your partnership with the franchisee. Don’t get the wrong idea that just because the franchisee buries you in paperwork that they are out to get you. Much of the franchise law is there for your benefit too. But franchise law is like all laws that are written by politicians and lawyers. It is tough for normal human beings to figure them out.

Along the way, you can and should pick the brains of those franchise experts that become your dream team.  That is because franchise law does not end when you win your franchise and start setting up shop. There are aspects of franchise law that will kick in every day you are in business. You cannot keep your high priced franchise experts around the store everyday. So let them teach you the real nuts and bolts of how to operate a profitable franchise and stay kosher with the franchise laws you singed up for. If you do that, everybody will be better off.