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If you are considering
purchasing or selling a franchise, you should consult with an experienced
attorney who knows this area of law. Prior to signing any franchise
agreements or area developer agreements, the UFOC should be reviewed
by your attorney. Additionally, before a commitment is made you
should ask yourself a wide range of questions such as:
| 1. |
Will
a corporation or other entity be purchasing the franchise? |
| 2. |
Do
you have an exit strategy and what rights, if any, do you have
to sell or assign the franchise rights to others? |
| 3. |
What
are your employment obligations? |
| 4. |
Where
will the franchise be located, and has the lease been reviewed
by a trusted advisor? |
| 5. |
Should
you apply for a Small Business Administration loan, or other
financing? |
| 6. |
Do
you have an accountant, payroll specialist, banker and attorney
on your team? |
The Cartwright
Law Group has helped dozens of clients purchase and sell businesses,
form corporations, LLCs and partnerships and enter into franchise
relationships. Contact us today to speak to an attorney.
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