If you decide to get a legal review, then it’s important to use an experienced franchise attorney, not an attorney friend of the family. Here are some quick tips:
- Make sure you are using an attorney who is familiar with franchise agreements. You wouldn't use a foot doctor for brain surgery. Keep in mind that lawyers specialize as well. You want a franchise attorney that commonly reviews franchise agreements for potential franchisees (contract and transactional franchise law). It typically will cost around $2,000 for them to review a number of items for you. Make sure you agree on a fixed rate.
- Most franchisor’s do not make changes to the franchise agreement. Do not pay to have an attorney rewrite chunks of the franchise agreement.
- Get a legal review just before Discovery Day. Timing is important. You do not want the review too early, and you do not want it too late.
Below is contact information for award winning franchise attorneys.
Note: I do not receive any direct or indirect remuneration from any of these individuals/companies.
Jason Power
www.barberpowerlaw.com
Tom Spadea
www.spadealaw.com
Nancy Lanard
www.lanardandassociates.com