The Internicola Law Firm, P.C.

Notifying the Franchisor of Your Plan to Sell a Franchise

If you plan to sell a franchise in New York, one of the first things you'll need to do is to notify the franchisor. This is because franchisors maintain contractual rights regarding franchise sales.

When you sell a franchise, these franchisor rights will generally include: 

• approving the buyer;
• approving the transaction; and
• exercising the right of first refusal. 

Furthermore, a franchisor may have established an organized resale program within their franchise system, in which case you will have to follow the rules that have been established in the program. A franchisor may also know of an investor who has shown interest in your market area.

When it comes to selling a franchise in New York, most franchisors will keep their distance from the process of selling the franchise except for any areas that require their involvement. This is because participation by the franchisor may be seen as interference and a franchisor may face legal recourse for interference with the sale of a franchise.

If you do plan to sell a franchise in New York, you should get the help of an experienced franchise attorney in New York. An attorney may advise you on the process of selling a franchise in New York, such as the information that you must provide a potential franchise buyer.  

Contacting a Franchise Attorney in New York

If you are an entrepreneur who is interested in franchising your business there is a lot you need to know, including the significance of evaluating your trademark and how to approach the preparation of your FDD. For a limited time, get New York franchise attorney Charles N. Internicola, Esq's franchise law report to determine whether or not your business is right for franchising. Contact us today at 1-800-976-4904 for more information about Mr. Internicola's franchise law services in New York and how he assists entrepreneurs franchise their business nationwide.