Buying a franchise is a significant business decision and can be an arduous and time-consuming process. However, with the vast potential in the Miami and South Florida area in general, it can be easy to see why taking the leap can pay off in kind. With many franchises increased interest in the area and the opportunities for new franchisees to sign on, it can almost seem too good to be true. However, there are many considerations to make beforehand, and with a seasoned franchise agreement lawyer by your side, you can navigate the process with efficiency and confidence.
At Portalatin Law Firm, you will find the experience and know-how to help you through your franchise acquisition and support along every step of the way. From the Federal Disclosure Document (FDD) to contract negotiations or possible disputes, having a professional by your side can make the difference between smooth sailing on your way to success or choppy waters and potential mistakes. So, call our office in Miami, FL, today to schedule your initial consultation!
Why Hire A Franchise Acquisition Attorney?
One of the most significant challenges in the franchise agreement process is the Federal Disclosure Document (FDD), which can be almost impossible for folks with little experience in the area to parse. The document includes many of the Critical considerations that a franchisee may wish to be clued into before they decide to close the deal. By working with a franchise attorney, you will have a seasoned professional by your side helping you navigate the information, ensuring there are no unforeseen circumstances that could come back to bite you later.
Not only this, but even after all disclosures have been made, there may be the need for contract review and negotiation, dispute resolution, and even litigation in some cases. Hopefully, a franchise acquisition attorney can iron out any possible issues before festering. Still, in a case in which a problem arises, it is always better to have a franchise attorney who is familiar with your situation on your side than one who was just introduced to your circumstances.
What Services Can Your Firm Assist Franchises In Handling In Southern Florida?
We assist franchisors by preparing the franchise disclosure documents, and we help them with the registration thereof. We can help the franchisees review these FDDs. Depending on who we are representing, we can help on both ends of the franchise disclosure documents.
For franchise agreements, similarly, we help the franchisors with the drafting of the franchise agreement, and then we help the franchisees review these agreements. If there is an opening for negotiation, we can negotiate the terms. For franchise renewals, we help review the terms of the renewal for the franchisees, and we negotiate those terms for them.
What Is An Accidental Franchise?
There are three elements to a franchise: (1) trademark association, which is having the right to use another entity or company’s trademark; (2) substantial assistance or control by that other company to your company, for example, controlling what your employees wear, what is on your menu, or substantial training; and (3) Payment of a fee of $500 or more paid within the first six months.
If those three elements are met, your business is considered a franchise, even if you did not intend it to be. Parties need to be cautious in forming relationships where the 3 elements may be present because they can get be significantly fined by the FTC if they fall into an accidental franchise.
Call Portalatin Law Firm To Get Started!
It can be challenging to determine where to start when presented with such a significant opportunity. However, when considering franchising, having all of the information presented in an easy-to-understand manner by an experienced franchise acquisition attorney can put your mind at ease.
However, the first step in any situation is calling Portalatin Law Firm in Miami, FL, to schedule an initial consultation. During this meeting, the circumstances, your goals surrounding your franchise endeavor, and the most practical next steps to take can be discussed. From there, moving through the stages in a franchise agreement can only be made easier with the help of a professional. Portalatin Law Firm is your one-stop shop for all things franchise. From the earliest stages of only beginning to consider franchising to ironing out the contract, look no further than the Portalatin Law Firm for the help you need and the peace of mind that comes with it!
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