The Role of Your New Jersey Franchise Lawyer – Part 4
As part 4 of the “Buying a Franchise Video Series”, New Jersey Franchise Lawyer Charles Internicola discusses the two roads you can take during the process of purchasing a franchise. That is, you can either walk away from the franchise investment or move forward.
Why Should You Walk Away?
Not every franchise may be right for you. Consider that in addition to the significant upfront capital investment that you will be making that, over time, you will be investing a lot more. This includes the many days, months and years of hard work and effort. So, selecting the right franchise is critical and if you have unanswered questions or concerns about the franchisor or your obligations as a franchise then, sometimes, the right decision may be to “walk away” and look for a better opportunity.
What Happens if You Want to Move Forward?
Well if your FDD review is complete and your due diligence is complete then the next step is to negotiate some strategic changes to the franchise agreement, negotiate some more and then reach a final franchise agreement to be signed with your lawyer.
Many times the modifications and changes that you will want to negotiate will relate to:
- Limiting your liability; and
- Solidifying the legal rights that you are obtaining such as making sure that your “protected territory” is actually exclusive to you.
What’s the last step in Buying a Franchise? Watch Part 5 here and listen to the Buying a Business Teleseminar for more information.
- Take Your Business from Local Success to National Franchise with The 90 Day Franchise Launch Program
- An Entrepreneurs Guide to Purchasing a Business or Franchise
- ENDWISE: The Guide to Selling Your Business with Peace of Mind
- The New York and New Jersey Partnership Dispute Guide
- Franchise Counsel Program