As a potential franchisee‚ you will be provided with specific disclosures in a Franchise Disclosure Document (FDD). This document will include certain financial information about a franchise. You may use this information to make projections about a franchise opportunity‚ and decide whether to invest in a franchise in New York.
However‚ the financial information in the FDD may be insufficient. In fact‚ a franchise's earnings are not required within the FDD. Only about 25% of franchisors provide information about their earning potential. This is because oftentimes‚ earnings information may reveal some unattractive numbers.
If you want to receive earnings projections when considering this type of investment‚ you can ask the franchisor to provide an earning claims statement. If you do request an earning claims statement‚ try to get a statement from a franchise in your projected area. This will give you an idea of how these costs and considerations relate to your geographic area.
If you do receive an earning claims statement from a New York franchisor‚ you can have the statement reviewed by a New York franchise lawyer. Your New York franchise lawyer can run the numbers you've been given and help you make an informed decision about investing in a franchise.
Contacting a New York Franchise Lawyer
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 lawyer 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.