Can I sell my franchise to someone else? Yes, you can sell a franchise to someone else, but the process […]
Cost of Using a Franchise Attorney When Buying a Franchise
Before making any commitment to buying a franchise resale, it is essential that prospective franchisees take appropriate professional advice from an experienced franchise attorney. Remember that a franchise contract is long-term; therefore the money you spend on expert advice from an attorney could be one of the best investments you make. They will guide you through the various stages of purchasing your franchise resale as well as ensuring that the Franchise Agreement fits in with all of your requirements.
The amount that a franchise attorney will charge you for this type of work will depend upon how complex the transaction is, therefore it is not really possible to give a meaningful estimate of the cost without full details of what the transaction will involve. Suffice to say that the cost will be appropriate to the value of the deal and without such advice you risk losing a substantial amount.
It is vital that you always seek legal advice for buying a franchise resale. Even if the current franchisee tells you that they used an attorney so you do not need to, you must still take legal advice from an experienced franchise attorney as the situation may have changed since the current franchisee entered into their agreement.
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