Purchasing a Franchise
Whether you are a seasoned investor or a new entrepreneur, the purchase of a franchise can be enticing and full of economic promise. It is important that you seek legal help through this process to ensure you are fully aware of exactly what you are getting into and to protect you from any costly mistakes.
Chenoweth Law Group in Portland represents franchise owners throughout Oregon, Washington, and California in the process of purchasing, establishing, and growing their new investment. We are a premier law firm representing startups and franchises throughout the Northwest.
Do I Need an Attorney When Purchasing a Franchise?
Franchise development directors often tell buyers that they don’t need an attorney. Everything in the agreement is already established and nothing is negotiable. This is often not the case. The terms of the transaction are always negotiable.
Many franchise buyers do not fully understand all the terms and obligations of the agreement. All too often buyers enter into an agreement that hamstrings them in the future or requires more of them than they anticipated.
Our attorneys will thoroughly inspect the franchise purchase agreement and franchise disclosure document (FDD) you have been presented. With years of experience representing franchise buyers, we know what’s important and what you need to be wary of. These agreements often mask unfavorable terms in legalese and confusing technical terms. We translate the agreement into plain English and give you a clear understanding of what you are entering into.
If any of the terms are unfavorable, we assist in negotiating a more reasonable and favorable agreement that provides long-term protection of your interests and the investment you are about to make.
Upon deciding to purchase a franchise, our lawyers will assist you in structuring your new business and selecting a business entity that makes the most sense for your goals and the future of the business. By dedicating the time and attention to these details upfront, you mitigate the risk of future conflicts, surprise franchise fees or royalties, and legal issues that could cost you significantly.
The relationship we establish with franchise buyers often continues through the life of their ownership of the business. Should legal issues arise, we already know the fundamentals of the business and how to resolve them as efficiently and effectively as possible.