Whether you’re the franchisor or the franchisee, protecting your and your company’s legal rights throughout the franchise process is essential. Without adequate protection you could be putting your business and your finances at risk, leaving you in a precarious position.
To ensure that your interests are covered every step of the way you’ll need to hire a franchise solicitor to oversee the process. Their specialist knowledge will help to ensure that all parties are happy and that the franchise agreement provides a solid foundation on which to build a thriving business.
Choose an experience franchise solicitor
Though there are a lot of solicitors that practice corporate and company law, to make sure that your franchise agreement and contracts are exactly as they should be, you should take the time to find and hire a specialist franchise solicitor.
Their experience in the industry will to ensure that they catch any issues with the contracts or agreements and will help them to identify areas that could cause problems in the future.
Some solicitors will claim to be franchise specialists when they don’t actually have extensive experience in the area. To ensure that your franchise solicitor has the expertise that they say they do, ask to see a list of companies they’ve worked with previously. If you’re still concerned, ask for recommendations or to speak to past clients.
Choose a specialist
Though most franchises will be relatively straightforward to arrange, if your business operates in a niche sector you may need a franchise solicitor who has previous experience in that sector.
The more directly related experience they have, the more likely it is that they will be able to draw up thorough and relevant contracts and agreements, protecting your company from potentially costly legal issues in the future.
Ask for recommendations
Word of mouth is one of the best and most reliable ways to find trustworthy people to work with, so ask other people in the franchise industry for recommendations.
If you can find someone who owns or operates a franchise who has had a positive experience with a reliable franchise solicitor, you’ll have a better chance of finding a competent legal professional you can work with.
Though it can take a little bit of time to find the right franchise solicitor for your needs, the service that they will provide is invaluable.
Whether you’re starting a franchise of your own, investing in a business or you just want to refine your company policy and contracts, hiring a trained specialist to process the paperwork for you will make your company stronger, more secure and more confident in the future.