One of the most powerful ways of becoming a business owner with guaranteed success is taking up a franchise of an existing brand. It can be considered as an easy route because you are purchasing an already established business model, with ready-made services or products that already enjoy market recognition and demand. But don’t make the mistake of thinking this choice wouldn’t demand hard work – it involves a lot of time, money and devoted effort from your end to make a franchise business profitable and get the most from the many advantages you are getting as part of the franchise package.
If you are new to this business, then it is evident that you will not understand all the details and fine print involved in the franchise paperwork and related legal formalities. In such a case, a NYC franchise lawyer should be consulted to help you make informed decisions. They are experts in these subject matters and will guide you through the complete franchise process. The lawyer will take you through the franchise document and will make you alert of all those important details prior to making a decision to purchase, on any aspect that might not be in your best interest.
Habitually, a franchisor will say that the franchise contract is non-negotiable and that they are firm over some terms like the royalty amount or annual percentage. Even in such a context, you should open a dialogue with them on clauses that you don’t agree. Your NYC franchise lawyer will help you negotiate on better terms and conditions.
A franchise lawyer in NYC should help in negotiating with respect to important terms like:
- Renewal of agreement
- Transfer of ownership
- Audit expenses
- Protection over territory
A franchise lawyer will also help you in such areas that are technically different from the franchise related work. This might include lease negotiation, company registration, and business planning.