Experts often suggest that a contract and agreement with one of the largest franchise companies are completely non-negotiable. This is where you should take advantage of a high-quality business attorney in Minnesota to help show you any elements of the contract that may be detrimental to your success. Fortunately, most franchisors want to help new franchisees with a successful and proven system.
Owning A Franchise
Taking legal advice from your business attorney in Minnesota is vital when you are contemplating owning a franchise for the first time. While it is easy to get lost in the drama and passion of contemplating running your own business within a successful model, you must still stay in charge of your own future.
The contract from the franchisor may not be negotiable, but it takes the talent and skill provided by your knowledgeable business attorney in Minnesota to be able to explain, in straightforward terms, each part of the contract. Without understanding what you’re getting into, you may be building a problem in the future that is non-negotiable and not for your benefit.
Where a franchisor is prepared to negotiate substantial parts of the agreement, this may be a warning sign that their format and system is not set correctly and for the benefit of all franchisees.
In similar terms, where the contract is completely one-sided against you, your attorney may advise you against signing because it may be difficult to find a way to make a profit through their system.
When this is your first small business, you will need the experience of a big-time firm but probably only be able to pay small firm rates. These business attorneys do exist, and by being in at the start, they can stay with you build a long-term relationship that is based on fees that you understand and can manage while looking to build for the future.
