While the idea of using franchise document templates to save money is well known, there are better reasons to tap the power of these starter documents.
July 6, 2011 by Fran
Filed under Franchise Articles
Are franchise document templates a good way to save money on high priced lawyers when getting ready to franchise your company? The answer is yes and no. It is entirely true that you can access some outstanding franchise document templates online that have been prepared by real franchise lawyers. This is a perfect way to get started on your grand quest to expand your empire quickly through franchising. Because the paths of franchising have been worn down nicely by others who have succeeded in making huge fortunes through franchises, there are plenty of formats of franchise document templates available for you to use to get ideas for how to create your own franchise documents.
The reason we also said the answer is no is that saving money on using franchise lawyers should not be the primary reason that you take advantage of the value of franchise document templates. These samples of common franchise formats were never intended to replace the value a good franchise lawyer will have in helping you create the best possible franchise agreements, disclosure documents and operating manuals that you will need when excited franchisees start breaking down your doors.
In fact, a good franchise lawyer will encourage you to spend some time with franchise document templates before you consult with experts like your franchise attorney. That is because these samples will make you smarter and a franchise legal team can do so much more for you if you know what you are talking about.
Franchise document templates do not replace the lawyers.
There is a cycle that franchising gurus recommend when it comes to creating A-list franchise documentation and nothing in that cycle is about saving money. It is about starting from scratch and learning the ropes of how to set up documents that will keep you kosher with franchise law and help your new franchise owners get off the ground to make a mountain of money for you. When it comes to something as tricky and legally binding as the franchise agreement, jumping through all the hoops to get it right the first time is not just a good idea. It is essential.
Those same franchising gurus see the value of using franchise document templates early in the cycle of document development. These outlines can give you a good feel for the work you have ahead of you in creating franchise documents that are the cornerstones to your great success and wealth as a franchisor. But franchise document templates do not replace tapping the training and Yoda like wisdom of your trusty franchise lawyer.
Before you show any franchise agreement or disclosure document to a perspective franchise customer, have them reviewed by your crack franchise legal experts. They can make sure everything is just right so that you keep things on the up and up when your franchise plan is ready to explode into the market place and take your business into the stratosphere of success just as you want it to do.